The government of Laos has revealed plans to offer a series of incentives to attract companies to invest in its tourism sites.
The Vientiane Times reported the country’s Deputy Minister of Information, Culture & Tourism, Ounethouang Khaophanh, as saying that companies investing in certain parts of Laos would enjoy tax breaks and exemption from fees.
This comes as Laos aims to expand tourism to more parts of the country by developing new visitor sites. In 2016, a government study found that there are more than 2,100 potential tourism sites in the country, including natural, historical and cultural attractions. Only about 40% of these have been developed however, and the Lao Ministry of Information, Culture & Tourism is now planning to build infrastructure and facilities at the other sites, with the help of overseas investment.
“We have always promoted investment into the tourism sector in line with the government’s policy,” Ounethouang told the Vientiane Times.
He added that incentives for potential investors will include profit tax exemption for four years and fee exemptions on land leases or concessions for up to 10 years.