With more than 400 investment projects with a total committed capital of over 5 billion USD, Vietnam is currently the third-largest investor among countries and territories investing in Laos, after Thailand and China.

Ambassador Nguyen Ba Hung is giving a flower basket to celebrate the 17th anniversary of Vietnamese Entrepreneurs' Day to Mr. Duong Dinh Bang, Interim President of the Association of Vietnamese Business Cooperation and Investment in Laos

On the morning of October 13 in Vientiane, the Business Association for Cooperation and Investment in Laos (BACI) celebrated the 17th Vietnam Entrepreneurs Day in in direct and online form in the capital Vientiane and 4 bridge points in North, Central and South Laos.

Attending were Vietnamese Ambassador to Laos Nguyen Ba Hung, representatives of the Consulate General of Vietnam in the provinces of Luang Prabang, Savannakhet and Champasak, and a large number of businessmen representing the Vietnamese business community doing business all over Laos.

At the ceremony, Mr. Duong Dinh Bang, Interim President of BACI, reviewed the history and meaning of Vietnam Entrepreneurs Day on October 13.

Duong Dinh Bang said that implementing the policy of promoting economic cooperation with Laos, on the basis of the great friendship, special solidarity and comprehensive cooperation between the two countries, in recent years, there have been many Vietnamese enterprises to invest and do business in Laos.

According to the President of BACI, with more than 400 investment projects and total committed capital of over 5 billion USD, Vietnam is currently the third-largest investor among countries and territories investing in Laos, only after Thailand and China.

Over the years, the Vietnamese business community in Laos not only contributes to the annual Lao budget but also contributes tens of millions of dollars to social security activities, build many infrastructures, create jobs for thousands of Lao workers...

More importantly, the Vietnamese business community has gradually contributed to changing the mindset for Lao workers, from small-scale production to commodity production, contributing to creating a new and fundamental orientation for the production and sustainable economic development of Laos. This is not only highly appreciated by the Lao Government and people, but also contributes to the great friendship between Laos and Vietnam.

Appreciating and praising the Vietnamese business community and entrepreneurs in Laos for their spirit and will to overcome difficulties during the COVID-19 pandemic, Ambassador Nguyen Ba Hung expressed his pleasure to realize that despite the epidemic situation there are still complicated developments, production and business activities of most enterprises are still guaranteed to the extent possible; new investment projects continued to increase, albeit at a modest rate.

A view of the celebration at the four bridgeheads in the provinces of Luang Prabang, Savannakhet, Oudomsay and Champasak of Laos

The Ambassador also highlighted the difficulties and challenges that Vietnamese businesses in Laos are and will be facing in the coming time, requiring businesses to clearly understand, imbued with the concept of the new normal, overcome and make the most of existing conditions in terms of human resources and technology, gradually moving in the direction of "living with COVID-19"; ensure maximum safety in production by researching, updating, applying science-technology, techniques, applying digital in production and business investment.

Enterprises have planned and developed specific plans for their activities to adapt to each level of social distancing imposed by the Laos Government to ensure maximum production and business efficiency. For difficulties and problems, it is necessary to closely coordinate with the Embassy to propose the Government of Laos for the two governments to support.

Ambassador Nguyen Ba Hung also called on entrepreneurs to be quick and bold to go ahead in business investment in Laos; unite, cooperate and support each other for mutual development; show the spirit, enthusiasm, goodwill and ardor to work of the Vietnamese people, contributing to further strengthening the close brotherly relationship between the two fraternal Vietnam-Laos countries.

On this occasion, the Ambassador also highly appreciated and praised the positive contributions of Vietnamese businesses in Laos to the Governments of Laos and Vietnam in the prevention, control and containment of the COVID-19 epidemic in recent times.