The Association of Vietnamese Investors in Laos (AVIL) aims to invest a total of 5.8 billion USD in the country by 2015, said the association at its meeting with Laos-based Vietnamese investors in Vientiane on September 24.
The Association of Vietnamese Investors in Laos (AVIL) aims to invest atotal of 5.8 billion USD in the country by 2015, said the association atits meeting with Laos-based Vietnamese investors in Vientiane on September 24.
Vietnam is the second largest investor in Laos, with 413projects underway and a total investment capital of around 5 billionUSD, according to the organisers. The investment projectshave actively contributed to Laos’ economy, expected to generate 150million USD in 2014 alone, and provide jobs for approximately 30,000local residents. During the first eight monthsof 2014, bilateral trade between Laos and Vietnam totalled 884 millionUSD, up by 41.6 percent compared to the same period last year. Thefigure is expected to reach over 1 billion USD by the end of 2014 and1.5-1.7 billion USD by 2015. The number of Lao tourists toVietnam increased by 20 percent, to a total of 101,770 tourists. Speaking at the meeting, Vuong Dinh Hue, Head of the Party CentralCommittee praised efforts made by Vietnamese businesses in Laos,expressing hope that they will continue contributing to developing thehost country’s economy, thus fostering the special relationship betweenVietnam and Laos.-VNA
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