Vietnamese enterprises have been actively contributing to the socio-economic development of Laos. Through their investment projects, these enterprises have created employment opportunities, increased income for workers, and generated revenue for the Lao state budget.

The governments of Vietnam and Laos have fostered favorable conditions for economic cooperation, emphasizing the spirit of friendship, solidarity, and comprehensive cooperation. Many Vietnamese investment projects in Laos have operated successfully, making significant contributions to the socio-economic development of the country. These projects have included revenue contributions to the Lao budget, job creation, and infrastructure improvement. Some localities in Laos have even recognized and highly appreciated the efforts of Vietnamese enterprises.

One notable success story is Star Telecom Company, operating under the Unitel brand. This telecom joint venture by the Military Industry and Telecommunications Group (Viettel) has achieved impressive results over its 14-year journey. Unitel has transformed from being the smallest network operator to becoming the leading telecommunications enterprise in Laos, serving 3.3 million subscribers and capturing 57% of the market share. The company has played a crucial role in establishing Laos as one of the countries with the best 4G coverage and speed in Southeast Asia, ensuring high-speed internet access for the Lao people. Additionally, Unitel has created 27,000 jobs and stands as the second-largest taxpayer in Laos.

Another successful venture is Lanexang Public Insurance Company, established through cooperation between Laos Development Bank and Vietnam Post Insurance Corporation. Over the past 13 years, the company has expanded its network to encompass more than 200 agents across Laos. In addition to its business and social activities, Lanexang Public Insurance Company actively contributes to community development programs in Laos, preserving the cooperative relationship between Vietnam and Laos.

Vietnamese enterprises in Laos have made substantial contributions to the country's GDP through legal business operations, tax payments, and annual revenue growth. These enterprises also engage in various social initiatives, including charity programs and community support. The investment, trade, and service cooperation of Vietnamese enterprises in Laos have achieved remarkable results, with social security initiatives amounting to nearly USD 73 million in fields such as healthcare, education, and housing for the underprivileged in remote areas.

The Lao government is actively working to improve the business investment environment by amending the current legal system. Agreements and commitments between Vietnam and Laos have created a favorable legal framework for Vietnamese enterprises investing in Laos. Ministries and agencies from both countries, particularly the Ministry of Planning and Investment and the Cooperation Committee, have supported investment projects, production, and business activities, ensuring their stability.

Vietnamese enterprises in Laos operate in various sectors, including investment, trade, finance, banking, hydroelectricity, mining, petroleum trading, and transportation. Many of these projects have been successful, creating jobs, increasing income for workers, and contributing to the Lao state budget. The telecommunications, banking, agriculture, and forestry sectors have particularly witnessed positive impacts from Vietnamese investments.

According to Viengsavanh Vilayphone, Vice Chairman of the Laos-Vietnam Cooperation Committee, the majority of Vietnamese enterprises investing and doing business in Laos have been effective. These enterprises have provided stable employment, improved the quality of life for local communities, and contributed to Laos' socio-economic development. The committee has been actively collaborating with Vietnam to address any challenges faced by Vietnamese businesses investing in Laos.

In 2022, the total trade turnover between Vietnam and Laos reached USD 1.703 billion, marking a 24.1% increase compared to 2021. In the first five months of 2023, bilateral trade turnover reached USD 701.42 million, a 1.57% increase compared to the same period last year. Vietnam's investment in Laos has also experienced remarkable growth, with registered capital from Vietnamese enterprises in 2022 surpassing USD 180 million, a 52.5% increase from 2021. In the first six months of 2023 alone, there have been four new projects and two projects with increased capital, amounting to a total value of USD 26.3 million.