Foreign investment reaches US$ 359 million in eight months of 2007-2008

(KPL) By the end of the eighth month of the 2007-2008 fiscal year the investment promotion department, ministry of planning and investment has approved 92 foreign investment projects worth US$ 359 million.
For the three-year period from 2005-2007, the investment promotion department approved 505 foreign investment projects, valued at US$ 5.08 billion.
Mr. Houmpheng Soulalay, Director General of Investment Promotion Department disclosed on 22 July that the foreign investment projects are in three sectors: 12.88% in agriculture and forestry sector, 6.791% in industry and 6.926% in services.
Mr. Houmpheng added that the approval of the investment projects has increased from US$ 1.2 billion in 2004-2005 to US$ 5.08 billion in 2006-2007. However, for the eight months of 2007-2008, the value of foreign investment has reached US$ 359.8 million for 92 projects, said Mr. Houmpheng.
He added that the investment promotion department would continue to implement its strategy for another 3 years to attract the foreign investment so as to achieve the government’s target plan.

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