“The Lao PDR is developing sustainable private sector-driven nature-based tourism as one of the pillars of the next National Socio-Economic Plan and its National Green Growth Strategy,” said Mr. Kikeo Singnavong, Deputy Minister of Agriculture and Forestry. “Carefully regulated tourism development can bring great benefits in both employment and income generation for local people in forested areas, providing an economic incentive for them to conserve biodiversity and natural beauty.”

The business leveraging facility, part of the World Bank supported Lao Landscapes and Livelihoods project, provides three types of financing: for planning and feasibility work, challenge funds that target priority investment in particular areas, and matching funds for product development and marketing work. Interested companies will be able to apply through prospectuses prepared by the Department of Forestry for each of the five national parks (Hin Nam No, Nam Et-Phou Louey, Nakai-Nam Theun, Phou Hin Poun, and Phou Khao Khouay) and three protected areas (Khoun Xe Nong Ma, Laving Lavern, and Yord Nam Mo-Phou Sam Soum).

Also attending the announcement were representatives and residents of the national parks and protected areas, related government agencies, and Mr. Inthy Deuansavanh, president of the Lao Tourism Association, who detailed some of the investment opportunities available in the eight protected areas

The World Bank estimates that nature-based tourism could grow to provide about 10% of GDP and 10% of jobs in Laos. This project aims to create job opportunities for 75,000 women alone.