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Encouraging Vietnamese businesses to invest in Laos
Improving the integration of Vietnamese businesses in Laos was the main topic of a seminar held in Hanoi on July 17.
The seminar was co-hosted by the Vietnam-Laos-Cambodia Association for Economic Cooperation and Development and the Vietnam Association for Small- and Medium-sized Enterprises.
Lao Deputy Minister of Industry and Trade, Siaosavath Savensuksa, said the workshop is one of the joint activities undertaken to realise the two-way trade target of US$1 billion in 2010 and US$2 billion in 2015 set by the two governments.
He spoke highly of the efforts of Vietnamese companies in maintaining their production and business, saying the Lao business circle needs to learn from these experiences in a bid to develop together firmly.
His Vietnamese counterpart, Nguyen Thanh Bien, asserted that Vietnam will create favourable conditions for businesses to invest in Laos, such as offering them tax incentives and organising trade promotion activities in the neighbouring country.
The Vietnam-Laos-Cambodia Association for Economic Cooperation and Development reported that Vietnam has so far poured US$811 million into 157 projects, becoming one of the leading foreign investors in Laos.
Two-way trade value has grown rapidly, reaching US$422 million in 2008, up 35 percent from the previous year.
Within the framework of the forum, the most outstanding Vietnamese and Lao businesses and entrepreneurs received awards in recognition of their achievements in production and services, as well as contributing to socio-economic development in each country and the region.
vietnamnews, vov
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