In October 2009, the Asian Development Bank (ADB) approved a $24.8 million grant for the Strengthening Higher Education Project in Lao People’s Democratic Republic (Lao PDR).
During project preparation, an unprecedented inflow of foreign direct investment (FDI) in cross-border contract farming and large land concessions marked the agriculture and natural resources (ANR) sector of the Lao People’s Democratic Republic (PDR). Investors included businesses from the People’s Republic of China, India, Republic of Korea, Thailand, and Viet Nam.
Tourism is one of the most dynamic sectors of the world. With total global demand reaching $7 trillion in 2007, it accounted for around 10% of the global gross domestic product and employed 240 million people. International tourist arrivals exceeded 880 million, with total receipts estimated at $700 billion.
Poor basic infrastructure that impeded economic cooperation in the Greater Mekong Subregion (GMS) underpinned the preparation of the Northern Greater Mekong Subregion (GMS) Transport Network Improvement Project.
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