Vietnam has 250 projects licenced in Laos so far, with totalinvestments of over 5 billion USD, 96 percent of which are located insouthern provinces, according to data from the Ministry of Planning andInvestment.
The figures were revealed at aneconomic cooperation dialogue between Vietnam’s Central Highlands andsouthern central provinces and Laos’ southern provinces that tookplace in Quy Nhon city, in the southern central province of BinhDinh, on November 2.
The projects, with a focus onagriculture, forestry and mining, make Vietnam the third largestinvestor in Laos. Meanwhile, Laos is the top destination forVietnamese investors, out of 63 countries and territories worldwidewhere Vietnamese firms have operated, according to the ministry.
By the end of September this year, bilateral trade between the twocountries hit 995 million USD. Trade between Vietnam and thesouthern-central provinces of Laos contributed approximately 600million USD to the total trade revenue, a 48.3 percent year-on-yearrise.
During the event, which is part of thepreparations for the Vietnam-Laos economic cooperation conference inJanuary 2015, Vietnamese investors voiced their difficulties inoperating in Laos, including inefficient administrative proceduresand complicated procedures for registering for land use licences.
Addressing the event, Lao Deputy Prime Minister Somsavat Lengsavadpledged that the Lao Government will work harder to tackle difficultiesand create favourable conditions for Vietnamese investors.
The Lao Deputy PM, who is also head of the Laos-Vietnam CooperationSub-Committee, said the two governments will work together closely toinstruct ministries on both sides to review bilateral cooperationagreements and solve all arising issues.
Laoshighly valued Vietnamese investments in its southern provinces,especially the projects run by Hoang Anh Gia Lai Group, the Bank forInvestment and Development of Vietnam and Viettel, he said.
Deputy Prime Minister Nguyen Xuan Phuc, head of the Vietnam-LaosCooperation Sub-Committee, said the Government will continue to backVietnamese investors in Laos.
He also proposedthe governments of Vietnam and Laos provide more assistance toinvestors by implementing support measures during their investment.
The ministries and localities on both sides should exchangeinformation regularly and coordinate closely with each other to reviewthe implementation of Vietnamese projects in Laos, he suggested.
He also highlighted the need for Vietnamese investors to ensure theprogress, quality and efficiency of their projects as well as theirresponsibility to the community, he added.
On the occasion, Vietnamese enterprises presented seven southern Lao provinces with 20 computers each.
Earlier, Deputy Prime Minister Phuc and his Lao counterpart witnessedthe signing of a cooperation agreement between the Youth Unions of BinhDinh and Champasak provinces.-VNA
The figures were revealed at aneconomic cooperation dialogue between Vietnam’s Central Highlands andsouthern central provinces and Laos’ southern provinces that tookplace in Quy Nhon city, in the southern central province of BinhDinh, on November 2.
The projects, with a focus onagriculture, forestry and mining, make Vietnam the third largestinvestor in Laos. Meanwhile, Laos is the top destination forVietnamese investors, out of 63 countries and territories worldwidewhere Vietnamese firms have operated, according to the ministry.
By the end of September this year, bilateral trade between the twocountries hit 995 million USD. Trade between Vietnam and thesouthern-central provinces of Laos contributed approximately 600million USD to the total trade revenue, a 48.3 percent year-on-yearrise.
During the event, which is part of thepreparations for the Vietnam-Laos economic cooperation conference inJanuary 2015, Vietnamese investors voiced their difficulties inoperating in Laos, including inefficient administrative proceduresand complicated procedures for registering for land use licences.
Addressing the event, Lao Deputy Prime Minister Somsavat Lengsavadpledged that the Lao Government will work harder to tackle difficultiesand create favourable conditions for Vietnamese investors.
The Lao Deputy PM, who is also head of the Laos-Vietnam CooperationSub-Committee, said the two governments will work together closely toinstruct ministries on both sides to review bilateral cooperationagreements and solve all arising issues.
Laoshighly valued Vietnamese investments in its southern provinces,especially the projects run by Hoang Anh Gia Lai Group, the Bank forInvestment and Development of Vietnam and Viettel, he said.
Deputy Prime Minister Nguyen Xuan Phuc, head of the Vietnam-LaosCooperation Sub-Committee, said the Government will continue to backVietnamese investors in Laos.
He also proposedthe governments of Vietnam and Laos provide more assistance toinvestors by implementing support measures during their investment.
The ministries and localities on both sides should exchangeinformation regularly and coordinate closely with each other to reviewthe implementation of Vietnamese projects in Laos, he suggested.
He also highlighted the need for Vietnamese investors to ensure theprogress, quality and efficiency of their projects as well as theirresponsibility to the community, he added.
On the occasion, Vietnamese enterprises presented seven southern Lao provinces with 20 computers each.
Earlier, Deputy Prime Minister Phuc and his Lao counterpart witnessedthe signing of a cooperation agreement between the Youth Unions of BinhDinh and Champasak provinces.-VNA
