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Vietnam, Laos boost investment cooperation
The Lao government wishes to welcome more Vietnamese investors as they have been making active contributions to the country’s socio-economic development.
Lao Prime Minister Buasone Bouphavanh affirmed the policy while receiving Vietnamese Deputy Prime Minister Truong Vinh Trong in Vientiane on June 21. Mr.Trong is on a visit to Laos to attend the 10 th founding anniversary of the Laos-Vietnam Joint Venture Bank (LVB).
The Lao leader also said that investment cooperation between the two countries is always high on Laos and Vietnam of the meetings of the Lao People’s Revolutionary Party Central Committee Politburo with a view to raising the bilateral relationship to a new level of development.
Deputy PM Trong discussed with the Lao host on the implementation of several Vietnamese-invested projects in Laos.
He also pledged that Vietnam will do its best to help Laos successfully host the 25th Southeast Asian Games (SEA Games 25) in Vientiane late this year.
Earlier the same day, Deputy PM Trong attended a ceremony to mark the LVB’s 10th founding anniversary (June 22, 1999-2009) in Vientiane.
On the occasion, the bank was presented with the third-class Labour Order by the Vietnamese State.
A joint venture between the Bank for Investment and Development of Vietnam (BIDV) and the Bank for Foreign Trade of Laos (BCEL), the LVB has continuously developed over the past ten years. The bank’s charter capital is expected to reach US$37.5 million by the end of this year from the initial US$10 million.
The bank has so far set up its branches in Champasak and Savanakhet provinces, Hanoi and Ho Chi Minh City.
On the occasion, the BIDV presented US$100,000 to the Lao government to fund the opening ceremony for the SEA Games 25.
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