The United States has invested more than USD 280 million in Laos through activities including construction, mining, financial and other services.
The number was announced during talks between US Ambassador Peter Haymond and Lao Minister of Industry and Commerce, Khampheng Saysompheng held on 8 December at the Ministry of Industry and Commerce.
The talks were held to discuss plans for further economic cooperation between the United States and Laos, according to Lao Economic Daily.
The two sides discussed trade relations between Laos and the United States, including the TIFA trade and investment framework agreement signed in 2016.
In the first six months of 2021, the value of trade between Laos and the United States reached USD 157.4 million, including USD 29.9 million in exports and USD 127.5 million in imports.
Products exported from Laos to the United States include bedding, cushions, lamps, footwear, clothing, pearls, gems, sports equipment, tobacco, electronics, and unprocessed coffee.
Meanwhile, Laos imports machinery and other products import from the United States, as well as wood pulp, electrical equipment, food industry waste, vehicles and auto parts, mechanical equipment, iron and steel products, optical equipment, and plastics.
In terms of investment, from 2008 to 2021, the value of US investments in Laos in the general business sector has totaled USD 280.04 million.
Companies from the United States have investments in construction, mining and quarrying, financial and insurance activities, accommodation and services, and utility operations.
