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The Lao Ministry of Development and Planning has reported that Vietnam has become the largest foreign investor in Laos in the 1989-2012. Since the Lao Government adopted a foreign investment promotion policy in 1989, Vietnamese investors have funded 429 projects with a total value of US$4.9 billion.The second and third largest investors are Thailand ($4 billion) and China ($3.9 billion).The mining industry and electricity sector attract the most foreign investment, with 27 percent and 25 percent of total investment intended for Laos, respectively.The Lao Government has implemented several preferential policies for foreign investors to encourage investment in rural areas.Laos expects its policies to help create jobs and increase the income for people living in the countryside.It strives to attract $15 billion of foreign investment and maintain a GDP growth rate of at least 8 percent per year in the 2011-2015 period.Tuoitrenews