Deputy Prime Minister Nguyễn Chí Dũng has called on domestic enterprises to study the Lao market and policies in detail, and to put forward specific investment ideas and projects.

At the “Vietnam–Laos Government Leaders and Businesses” dialogue held on 9 July, Deputy Prime Minister Nguyễn Chí Dũng praised Laos’ reform efforts and development potential. Recently, the Lao Politburo decided to establish an Investment Promotion Committee to directly assist and address obstacles faced by businesses.

Deputy Prime Minister Nguyễn Chí Dũng speaking at the dialogue on July 9.

“This is a reform initiative that is focused, substantive and effective,” the Deputy Prime Minister said. He highlighted a number of sectors where Vietnamese enterprises should increase their engagement and investment, such as renewable energy, mining, high-tech agriculture, tourism, and the rubber industry.

He called on the Lao Government to continue creating the most favorable conditions for Vietnamese enterprises to conduct business and contribute to Laos’ economic development. At the same time, he urged Vietnamese enterprises to honour their commitments, invest seriously, comply with the laws of the host country, and further cultivate the special relationship between the two sides.

“Vietnamese corporations and enterprises must carefully research the Lao market and legal framework, propose concrete investment ideas, and transform them into real projects that help realise the economic cooperation potential,” he said.

Deputy Prime Minister Nguyễn Chí Dũng speaking at the dialogue on 9 July.

At the dialogue, Vietnamese business representatives proposed a number of cooperative investment projects in Laos. Specifically, Chairman of the Vietnam Rubber Group Trần Công Kha proposed expanding rubber plantation projects and applying high technology in the sector.

Deputy General Director of the Vietnam National Chemical Group Đào Ngọc Cường expressed the wish for the Lao Government to support mechanisms that shorten the approval process for feasibility and environmental impact reports during project implementation. He also suggested facilitating the recruitment of unskilled workers and accelerating site clearance and compensation.

Laos is actively streamlining its administrative system, reducing procedures, and reforming its investment promotion mechanisms. According to Lao Deputy Prime Minister Saleumxay Kommasith, the Lao Government recognises the determination and dedication of Vietnamese enterprises investing in Laos. He said businesses can directly communicate and coordinate with the Investment Promotion Committee and relevant ministries to jointly resolve difficulties.

“We hope the two sides will work together more closely and effectively to implement strategic, priority projects,” Deputy Prime Minister Saleumxay Kommasith said, affirming that Laos encourages investors from both countries to maintain regular exchanges and strengthen cooperation.

He also confirmed that the Lao Government remains open and welcoming to Vietnamese enterprises, and hopes that Vietnamese investors will increase their investments both in quantity and quality, with the aim of making Vietnam the leading foreign investor in Laos in the near future.