Vietnamese businesses boost investment in Laos

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VOV News English - 34 month(s) ago 6 readings

Vietnamese businesses boost investment in Laos

(VOV) - Vietnamese businesses in Laos will put some large-scale investment projects into operation this year.

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The statement was confirmed at a meeting in Hanoi on April 25 that was jointly held by the National Assembly (NA) Committee for External Affairs, the Ministry of Planning and Investment, and the Vietnamese Investors’ Association in Laos.

Present were Vietnam’s Chairman of NA Nguyen Sinh Hung, and Deputy Prime Minister Nguyen Xuan Phuc, Laos’ NA Chairwoman Pany Yathotou, and Deputy PM Somsavat Lengsavat, and representatives of 60 Vietnamese and Lao businesses.

At the meeting, Deputy PM Nguyen Xuan Phuc spoke highly of the two countries’ co-ordinated efforts to create favourable condition for their businesses to strengthen cooperation and investment.

Laos’ Deputy PM Somsavat Lengsavat praised Vietnamese businesses having actively contributed to the cause of socio-economic development by creating many jobs for Lao people.

He expressed his hope that the trade turnover between the two countries will reach US$1 billion at the end of this year.

He said there have been more than 210 projects in the fields of energy, agriculture and forestry with a total capitalization of US$3.45 billion.

Among those already getting off the ground are a Laos-Vietnam joint venture bank, a rubber planting project by Hoang Anh Gia Lai group and a rubber and sugar-cane growing project by Vietnam Rubber Group.

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