Ministry to closely monitor agri-business
The Ministry of Agriculture and Forestry will this year closely monitor domestic and foreign investment in this sector as it believes that many companies have not implemented the agreements made or complied with stipulated feasibility study methods. The ministry will strictly apply management measures to investors and companies that have made no progress with their proposed projects or had an adverse impact on local communities and the environment. However, the ministry has not revealed the numbers and names of the companies concerned, the ministry reported at its annual meeting in Vientiane at the end of last year. Last year, 733 domestic and foreign companies agreed to invest in the agriculture and forestry sector in Laos with total investment of US$3.55 billion while US$1.74 billion of registered funding was allocated to land concessions on about 467,980 hectares.
