Lao Prime Minister Thongloun Sisoulith (Photo: VNA)

Hanoi (VNA) – There has been good progress in investments in Laos, with 4,118 enterprises registering and being approved for investment between January and June, according to Lao Prime Minister Thongloun Sisoulith.

He has recently made the statement at the fifth session of the 8th Lao National Assembly, which opened on June 6.

Foreign enterprises have registered a total investment of about 3.72 billion USD in the country, he said.

Among the registered projects, there are more than 20 big projects under Memoranda of Understanding, including 12 power plants, seven mining projects and six tourism and expressway study plans, local online newspaper Vientiane Times said on June 17.

Thongloun also vowed that the government continues to remove obstacles and difficulties hampering business operations and investments.

An official of the Lao Ministry of Planning and Investment's Investment Promotion Department said the value of investments made during first six months of this year was much higher than the amount of the same period last year.

The Lao government will continue increasing the effectiveness and efficiency of single-window services and management mechanisms at the central and local levels, "particularly removing some investment approval procedures and increasing speed and transparency in business operation approval," Thongloun said.

The World Bank projected Laos’ economy will grow by 6.7 percent this year while the country’s public debt will account for about 61 percent of last year’s GDP.-VNA