Two-way trade between Laos and Vietnam exceeded 1 billion USD in 2018, up 13 percent annually and surpassing the set target, according to the Lao Laophatthana newspaper.
Vientiane (VNA) – Two-waytrade between Laos and Vietnam exceeded 1 billion USD in 2018, up 13 percentannually and surpassing the set target, according to the Lao Laophatthananewspaper.
The two governments have set thetarget of a 10 percent rise or more for this year.
At present, Vietnam ranks third amongthose countries investing in Laos. Notably, the Xekaman 1 and Xekaman Sanxay hydropowerprojects were producing and selling electricity to Vietnam, adding revenue to theLao State budget.
Additionally, joint work in thedevelopment of Vung Ang ports 1, 2, and 3 and the power purchase agreement arealso expected to hike bilateral trade.
Last year, 12 projects making useof assistance funds were put into operation. The two countries’ sectors andlocalities facilitated meetings to share experience and expand effective, practicalcollaboration.
Cooperation mechanisms andpolicies were also successfully revised in time to suit each country’srealities and international law.–VNA
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This is the second year the magazine has released the ranking, which is based on total revenue and key financial indicators of enterprises from seven countries in the region: Vietnam, Indonesia, Thailand, Malaysia, Singapore, the Philippines, and Cambodia.
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Illustrative photo (Source: VNA) 
