23/07/2017 07:25 GMT+7 Email Print Like 0

Laos seeks investment in tourist site development

Hanoi, July 22 (VNA) – Laos has huge potential for developing tourist sites and a number of incentives have been introduced to promote investment in this field, reported Vientiane Times daily newspaper. 

Lao Deputy Minister of Information, Culture and Tourism Ounethouang Khaophanh said Laos welcomes investors to invest in developing and operating tourist sites in line with the country’s law. 

More than 1,000 tourist destinations in Laos have yet to be developed or opened to visitors due to poor infrastructure. 

The 2016 statistics from the Ministry of Information, Culture and Tourism showed that there were as many as 2,104 tourist sites in Laos, but only about 40 percent of them had been developed and opened for services. The country currently has 1,194 natural tourist sites, 628 cultural and 282 historical attractions. 

According to the World Bank (WB), the Lao economy is expected to grow about 7 percent in 2017-2019. Meanwhile, the International Monetary Fund (IMF) predicted a growth of 6.8 percent for the country in 2017, despite low source of revenue and unforeseen uncertainties of the global economy.