Photo: More and more chinese doing business in Northern Laos

Chinese companies accounted for 41 per cent of the total foreign direct investment approved in communist Laos in the fiscal year that ended last month, Radio Vientiane said Tuesday.

Laos approved a total of 117 investments worth $1.1 billion for the year, state-run radio reported in a broadcast monitored in Bangkok.

Of the projects approved by the Committee of Planning and Investment, 45 were Chinese projects worth $462 million, making China the lead investor nation last year. About 32 per cent of the Chinese investment was in hydropower.

From 2001 to 2007, Chinese direct investment in communist Laos amounted to $1.1 billion, making China second only to Thailand as an investor. In the same period, Thai investments amounted to $1.3 billion, according to committee data.

Laos is a landlocked country half the size of France sandwiched between Thailand, China, Burma, Vietnam and Cambodia. It has been under communist rule since 1975. (dpa)

Source: http://www.bangkokpost.com/breaking_news/breakingnews.php?id=122253