Laos has surpassed all other foreign markets as the single most important one for Vietnamese companies who are wanting to expand their operations. Businesses having their headquarters in Ho Chi Minh City contributed a total of $510 million US dollars to be distributed over 39 separate projects in the country of Laos. Vietnam is now placed third in Laos in terms of foreign investment, sliding behind China and Thailand respectively. In the meanwhile, China and Thailand continue to hold the top two spots. The agricultural, electrical, mining, and service sectors are only some of the existing areas that Vietnamese companies are aiming to operate in.

The Deputy Prime Minister of Laos, recently traveled on official business to Ho Chi Minh City, where he met with his Vietnamese counterpart and reviewed this statistics.
During the course of their trip, memorandums of agreement were signed for a total of 17 projects with an investment capital of 3.9 trillion Vietnamese dong. The signing of these papers was witnessed by a number of high-ranking authorities. Dr. Sonexay just got back from a trade and investment event that, according to him, has created favorable circumstances for increased investment in Laos on the part of Vietnamese enterprises. He said this after he just returned from the event. In addition to this, he paid attention to the suggestions that Vietnamese investors made on how the business climate in Laos might be improved, and he gave these suggestions some thought.

As stated by the country's Deputy Prime Minister, the government of Laos has been putting a major priority on attracting foreign investment, particularly from Vietnam, in order to expedite the economic development of the nation. This is in line with the statement made by the country's Prime Minister.
According to him, the government of Laos has made substantial investments in the modernization of the country's logistics system as well as the construction of new roads, railroads, and expressways in order to strengthen the country's connections with the countries that are located in its immediate vicinity and to stimulate economic activity.

Dr. Sonexay has provided guarantees to Vietnamese businesses that the Lao government would provide further assistance to Vietnamese firms in the goal of attracting more investments to Laos and, as a consequence, boosting the efficiency of economic cooperation between the two countries.He placed a strong emphasis on the relevance of Vietnamese investment in the creation, upkeep, and growth of Laos's national infrastructure.

Solid political ties offer a stable environment for economic cooperation activities between the two nations, according to words ascribed to Nguyen Van Nen, a member of the Politburo and Secretary of the Party Committee for Ho Chi Minh City. These remarks were used by VietnamPlus as supporting evidence.

According to Phimpha Keomixay, who serves as the Lao consul general in Ho Chi Minh City, Vietnamese businesses have been concentrating their efforts on almost all of the significant economic sectors in Laos. This is what the information that was supplied by the consul indicates. These industries include of banking, tourism, hotel management, trade center services, agriculture, energy production and distribution, manufacturing and distribution of basic commodities, and production and distribution of key products.

She stated that as a result of these, Vietnamese businesses have been able to reach out to a larger pool of consumers, and the groundwork for the growth of Laos' future industrial sector has been established. She also said that this was due to the fact that the government of Laos has been more open to foreign investment.

The governments of Laos and Vietnam have each committed to making it a priority to bring the total value of their countries' two-way commerce to a total of $2 billion within the next few years. They want to achieve this objective by making the most of the opportunities that now exist between their nations and by seizing every available opportunity.

Between the beginning of this year and the middle of this year, the value of commerce that took place between Laos and Vietnam increased to a total of $949 million. This figure has increased significantly since the beginning of this year. This represented a rise of 24.11 percent in comparison to the same time period in the year before to the current one.