Vietnam-based Hoang Anh Gia Lai Group (HAG) will invest US$1.2 billion in maize, sugarcane, rubber, and palm oil projects in Laos. The company also has plans for a Laos-based cattle breeding project through which it will import approximately 100,000 head of cattle from Australia and then raise additional dairy cattle for milk production. Currently HAG is cultivating an area of 40,000 hectares of maize, sugarcane, rubber and of which 4,000 hectares is planted in oil palm trees. A new project concerning maize planting is scheduled to be discussed and approved on April 18th. Vietnam is currently in the top three foreign investors in Laos and Vietnamese investments in the country are expected to reach US$6.3 billion by the end of 2015. The two-way trade turnover is estimated at US$1 billion and is expected to double next year.
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