Lane Xang Insurance – bright spot in Vietnam-Laos cooperation
The Lane Xang Assurance Public Insurance, a joint venture between the Vietnam Post and Telecommunication Insurance Joint Stock Corporation and Laos Development Bank celebrated its fifth anniversary.
The Lane Xang Assurance Public Insurance (LAP), a joint venture between the Vietnam Post and Telecommunication Joint Stock Insurance Corporation (PTI) and Laos Development Bank (LDB) celebrated its🍷 fifth anniversary in Vientiane on October 9.
Since it was established in 2010, LAP network has covered all 18 Lao localities. Last year, its revenue reached 20 billion kip (2.5 million USD, 10 times higher than that of 2010, making it the second largest retailer and fourth largest insurer in Laos.
LAO has also been active in social activities for the Vietnamese community in Laos with various activities in different Lao localities.
In 2013, LAP was honoured for its contributions to ASEAN community development.
Addressing the ceremony, PTI General Director Pham Anh Tuan thanked the Party and State of Laos for supporting the firm during its operation, pledging to continue actively engaging in social activities in the country and contribute to the local development.
Meanwhile, LDB General Director Bouline Phommavongsa said he is delighted at achievements that LAP has gained so far with an average annual growth of 130 percent, describing the firm as a bright spot in Laos-Vietnam business affiliation.-VNA
Some 45 Vietnamese businesses investing in Laos attended a workshop on September 11 to get updates on freshly-signed trade agreements between Vietnam and Laos.
The Parties, Governments, National Assemblies and peoples of Vietnam and Laos always treasure the traditional friendship, special solidarity and comprehensive coordination between the two countries.
Minister of Transport Dinh La Thang and Lao Minister of Public Works and Transport Buonchanh Sinthavong signed a strategic MoU on transport cooperation from 2016-2025 in Vientiane on September 14.
According to Mastercard data, Vietnam has recorded a remarkable 92% compound annual growth rate (CAGR) in contactless transaction volume from Q4 2022 to Q4 2024.
Tuan expressed his confidence that LH, with its expertise and experience, would swiftly implement the urban area project, contributing to a modern urban landscape for the province.
With its strategic location, abundant workforce, and modern infrastructure, Vietnam holds significant potential to become a leading centre for power and electronics production in the region and the world.
The renewable energy workforce training and development centre, invested by Germany's GEO Group, is expected to be a cornerstone in shaping Binh Dinh as a renewable energy and innovation hub in central Vietnam, meeting the growing demand for skilled technical personnel in offshore wind, solar farms, and green hydrogen projects.
A notable trend is the shift toward satellite regions. With land scarcity and soaring prices in Ho Chi Minh City and Hanoi, investors are eyeing provinces like Hung Yen, Bac Ninh, and Hai Phong, which are benefiting from improved technical infrastructure and transport connectivity.
To further strengthen private-sector innovation, Bac Ninh plans to accelerate administrative reforms, build a digital, service-oriented government, and develop an integrated innovation ecosystem that connects businesses with domestic and international institutions, universities, and experts.
The participation of H&M, one of the world's largest fashion corporations, in Vietnam International Sourcing 2025 in Ho Chi Minh City in early September is considered a special highlight, opening up many cooperation opportunities for Vietnamese businesses in the fashion, textiles and sustainable supply chains.
This latest order builds on a previous agreement signed at the Singapore Airshow last year for 40 engines, bringing the total number of Trent 7000 engines ordered by the airline to 80.
Minister of Industry and Trade Nguyen Hong Dien acknowledged that despite concerted efforts by ministries and local authorities in combating fake and substandard goods, the situation remains highly complicated, attributing the persistent challenges to high profits luring numerous participants, increasingly sophisticated violations, limited resources within enforcement agencies.
The group also placed among the Top 5 energy companies in Southeast Asia and secured the top spot among the largest Vietnamese enterprises featured on the list.
The zone will cover 1,881 ha, comprising functional areas for production, logistics, trade and services, digital technology industry, information technology, and innovation.
Dung underlined several key objectives, including a comprehensive review of the legal framework governing SOEs, and called for updates that reflect international standards and support modern, transparent governance.
While the US market has become more difficult to access due to new tax policies, Australia could play the role of a trade cushion, helping to reduce shocks and maintain export momentum for Vietnam's shrimp industry.
Vietnam Cycle Expo 2025 will coincide with the Vietnam Sport Show 2025, an international exhibition on sports and outdoor entertainment, expected to attract more than 20,000 visitors in the three-day event.
Despite global economic uncertainties, Binh Duong has maintained strong momentum in both exports and industrial production during the first half of 2025.
