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New Delhi, Nov 15

Laos wants Indian investors to set up businesses there, with the possibility of 100 per cent FDI, according to that country's Vice-Minister of Foreign Affairs Mr Phongsavath Boupha. Speaking at a meeting organised by the CII on Wednesday, he said that with Loas developing strong relationship with its neighbours, it has to offer a market of almost $250 million for Indian investors to tap. It is rich in natural resources such as water (for hydel generation), mineral resources such as tin, gypsum, iron, gold and copper, and rice production. "Laos is planning a round table conference on public investment programme, trade and private sector, in order to mobilise funds for its social economy. We expect around 70 per cent of the investment requirement in Laos to come from the private sector," said Mr Boupha. Mr Boupha is on an official "sensitisation" tour to various countries and India is his last stop before returning to Laos. He hopes to excite Indian companies to avail of the Lao Government's progressive policies that welcome foreign investment in key sectors.

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