A cooperation deal has been signed between the Vietnam Business Association for Cooperation and Investment in Laos (BACI) and the Young Entrepreneurs Association of Laos (YEAL), expected to open up more partnership chances for the countries’ businesses.
Chairman of the Vietnam Business Association for Cooperation and Investment in Laos Nguyen The Hien (R) and Chairman of the Young Entrepreneurs Association of Laos Khamsen Sisavong sign the coopeation deal in Vientiane on May 14 (Photo: VNA)
Vientiane (VNA) – A cooperation deal has been signedbetween the Vietnam Business Association for Cooperation and Investment in Laos(BACI) and the Young Entrepreneurs Association of Laos (YEAL), expected to openup more partnership chances for the countries’ businesses.
At the signing ceremony in Vientiane on May 14,BACI Chairman Nguyen The Hien said Vietnamese businesses are investing over 4.1billion USD in more than 400 projects in Laos. Enterprises of both sides areworking together to bring cooperation in various fields like mining,agriculture and services on par with the countries’ potential and advantages.
He underlined that bilateral cooperationoutcomes in recent years have demonstrated efforts by Vietnamese and Laobusinesses, governments, ministries, and sectors.
The BACI’s establishment was one of thepractical activities of the Vietnamese Government and business community toimprove their investment’s effectiveness in Laos, Hien said, noting that hisassociation has become a true bridge for bilateral trade and investment ties.
He said the BACI-YEAL agreement will continueopening up many opportunities for investment cooperation, thus contributing toeach country’s development.
For his part, YEAL Chairman Khamsen Sisavongsaid the YEAL-BACI cooperation is important to both at present and in thefuture. The two associations should also make use of opportunities tocoordinate more closely to help solve youth unemployment in Laos.
He asked them to jointly organise discussions onpartnership in developing export products and set up a cooperation board toboost substantive ties. He also called on Vietnamese firms working in thefinance-banking sector of Laos to create favourable conditions for localcompanies to access soft loans.
At the meeting, the countries’ businesses alsoinked five cooperation documents.
Founded in 2010, the BACI now has 100 membercompanies. Meanwhile, there are more than 800 firms that are members of theYEAL, which was set up in 2002.-VNA
Vietnamese Minister of Labour, Invalids, and Social Affairs Dao Ngoc Dung and Lao Minister of Labour and Social Welfare Khampheng Saysomepheng co-chaired the sixth Vietnam-Laos Ministerial Conference on Labour and Social Welfare in Vientiane, Laos on March 28.
People-to-people diplomacy has contributed to tightening solidarity between the two countries, heard a conference in the northern province of Thai Nguyen on April 9.
Vietnam and Laos have agreed to boost cooperation in ethnic affairs, including training, building and implementing related policies, and increasing cultural exchanges between ethnic groups along the shared border line.
The comprehensive cooperation between the National Assemblies of Vietnam and Laos has developed fruitfully in the recent past, said Vice Chairwoman of the Vietnamese NA Tong Thi Phong.
Vietnam’s TE-FOOD company on May 13 signed a memorandum of understanding on cooperation with the Lao Ministry of Agriculture and Forestry’s Department of Livestock and Fisheries to build a herd management and information system for urgent epidemic prevention through smart phones, amidst the spreading African swine fever (ASF) in the region.
The new Government decree also simplifies loan procedures while expanding credit incentives to include organic and circular agriculture, allowing them to access preferential terms similar to those of high-tech and value-chain based agricultural production.
Developed with state-of-the-art infrastructure, the Da Nang FTZ is designed to become a leading regional economic centre and a strategic growth pole in Vietnam’s new development landscape.
The Binh Duong Association of Supporting Industries (BASI) is expected to promote the usage of domestically manufactured components while supporting businesses in accessing international markets, strengthening linkages, and promoting deeper integration into global supply chains.
PwC Vietnam forecasts a vibrant M&A market in Vietnam’s healthcare sector in 2025, driven by rising demand for high-quality medical services and a growing middle class. Pharmaceutical companies, private hospitals, and specialised medical facilities, particularly in ophthalmology and oncology, are predicted to be key targets for M&A.
The central province of Quang Nam is set to become a hub for the medicinal plant industry, with Ngoc Linh ginseng designated as the core crop, under the Prime Minister's decision issued earlier this year.
The North-South Expressway project is scheduled for completion by 2030, aiming to establish the groundwork for Vietnam’s modern railway industry and stimulate regional economic development, positioning the country for a significant economic leap in the era of national rise.
The probe, initiated on June 11 following a petition by the US Coalition for Fair Trade in Hardwood Plywood, targets products classified under HS Code 4412 and 9403 imported from China, Indonesia and Vietnam.
Sun PhuQuoc Airways was born as a perfect piece in Sun Group’s strategic vision to build a premium ecosystem of tourism, entertainment, real estate, and aviation. With a pioneering ambition, Sun PhuQuoc Airways is not just an airline, but a symbol of connection – bringing the world to Phu Quoc and taking Phu Quoc to the world.
A key change in the draft decree is a provision requiring bank transfers for gold transactions valued at 20 million VND (765 USD) and above, to enhance transparency and verify customer identities.
In the first four months of 2025, trade turnover between Vietnam and Cambodia surpassed 3 billion USD, marking a 7% increase compared to the same period in 2024.
On June 19 alone, a total of 2,005 trucks completed customs clearance at Lang Son’s border gates — the highest single-day figure ever recorded in the province. Of these, 634 carried exports and 1,371 imports.
The OECD Economic Surveys: Vietnam 2025 report focuses on analysing the country’s macroeconomic fundamentals, the impact of international integration on attracting foreign investment and trade, and the country’s prospects for developing a low-carbon economy.
Antoine Colin, Senior Vice President for Global Supply Chain Digital Transformation & Resilience at HP Inc., affirmed HP’s strategic commitment to building a supply chain and ecosystem in Vietnam and the region.
Deputy Director General of the Ministry of Industry and Trade (MoIT)’s Trade Promotion Agency Bui Quang Hung emphasised that logistics has evolved from a technical function into a core capability for Vietnamese exporters to maintain their competitive advantage in the US market.
A trade official has suggested companies work closely with shipping lines, airlines, and freight forwarders to monitor routes, transit times, and potential surcharges while exploring broader cargo insurance to cover risks like war and terrorism.
In addition to institutional reform, the agency is also rolling out key solution groups to combat counterfeit goods, imitations, and intellectual property infringements in the digital environment.
The event, co-organised by the Vietnam Trade Office in the UK and TT Meridian, a local importer of Vietnamese fresh produce, aims to build a national lychee brand and encourage broader recognition of Vietnamese fruits in a competitive, high-end market.
The industry's performance has been powered by bold investments in modern production lines, enabling Vietnamese firms to produce complicated products which were exclusive to advanced economies.
Chairman of the Vietnam Business Association for Cooperation and Investment in Laos Nguyen The Hien (R) and Chairman of the Young Entrepreneurs Association of Laos Khamsen Sisavong sign the coopeation deal in Vientiane on May 14 (Photo: VNA) 
