MOIT VIETNAM | Laos’ economic prospects and impacts on Vietnamese enterprises

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Laos’ economic prospects and impacts on Vietnamese enterprises

11th October 2019 post by MOIT Vietnam

On October 11 in Vientiane, Laos, The Vietnamese Embassy and the Vietnam Business Association for Cooperation and Investment in Laos held a seminar to discuss Laos’ economic prospects and impacts on Vietnamese enterprises.

According to Vietnam News Agency in Laos, attending the event were Vietnamese Ambassador to Laos Nguyen Ba Hung; Lao Deputy Minister of Planning and Investment and Vice Chairman of the Laos – Vietnam Cooperation Committee Khamphoi Keokinnaly; Chairman of the Lao National Assembly’s Committee on Planning, Finance and Auditing and Chairman of the Laos – Vietnam Friendship Association Central Committee Vilayvong Bouddakham; and former Director of the Lao National Economic Research Institute Bouasone Bouphavanh and enterprises of both countries.

At the seminar, speakers from Lao authorities and the Ambassador of Vietnam in Laos shared about the socio-economic situation of Laos in recent years, as well as the Laos’ policies and attracting industries for investment with Vietnamese enterprises investing in Laos. They also answered questions regarding mechanisms, policies, land use planning, legal documents, import and export procedures, etc.

According to data from the Laos’ Minister of Planning and Investment, since 1989, Vietnam has invested in 413 projects worth 4.1 billion USD in Laos, ranking 3rd among 54 countries investing in Laos.

On this occasion, speakers from Lao authorities vowed to do their best to advise the Lao government to provide all possible support for Vietnamese enterprises doing business in the country, thus contributing to fostering the great friendship and comprehensive partnership between the two nations.