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Firms boost Laos investments
Executives from more than 70 Vietnamese businesses operating in Laos met with authorities from both countries in Vientiane on Saturday to discuss ways to boost stronger investment.
Vietnamese Minister of Planning and Investment Vo Hong Phuc and his Lao counterpart Sinlavong Khoutphay Theun listened to a variety of concerns raised by investors, such as a lack of information and the conflicting interests among shareholders.
Many investors failed to adjust their investment strategies in a timely manner because of the lack of legal and market information that had been made available about policy changes and socio-economic development.
Capital and workforces shortages were also significant reasons for project delay, investors complained.
Despite all these difficulties, however, Vietnamese investors expressed their strong confidence in the business opportunities available in Laos.
Viet Nam emerged as the top foreign investor in Lao in 2008-09, injecting about US$2.1 billion in more than 200 projects in the country.
Major projects have made contributions to Lao's socio-economic development, including the hydro-electric plant Secaman III, and a rubber planting and processing project that has helped reclaim tens of thousands of hectares in southern and central Laos.
The two ministers encouraged Vietnamese businesses to boost investment in Laos after receiving concrete answers to their concerns.
vietnamnews
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