Vietnam and Laos need more incentives to facilitate more investment, especially in human resources training, infrastructure, and finance and banking, which will promote friendship and comprehensive cooperation between the two Parties, States and nations.
Deputy Prime Minister Nguyen Xuan Phuc stated this at the Vietnam - Laos Business Forum in Hanoi on April 25, with 64 businesses from both countries taking part.
As part of the activities to mark Vietnam-Laos Friendship and Solidarity Year 2012, the 50th anniversary of the two countries’ diplomatic ties and the 35th anniversary of the signing of the Friendship and Cooperation Treaty, the event was jointly held by the Ministry of Planning and Investment (MoPI), the NA Committee for External Affairs and the Association of Vietnamese Investors in Laos (AVIL).
On addressing the event, Laos Deputy Prime Minister Somsavad Lengsavad asked the two countries to increase the exchange of information from Government level to businesses, to deal with challenges and speed up the progress of joint projects.
Many Vietnamese businesses suggested that the Lao Government considers transferring some projects to them as a priority, especially projects along the two countries’ border. They also proposed policies on projects already under way in the country.
The MoPI reported that with 206 licensed projects worth over 34 billion USD, Vietnam now ranks third out of the 52 countries and territories to invest in Laos. Meanwhile, Laos ranks first out of 55 countries and territories for Vietnamese businesses.
According to the AVIL, almost all Vietnam projects in Laos have been implemented on schedule, contributing to the country’s economic growth.