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VN to increase investment in northern Laos
Vietnamese businesses operating in eight northern provinces of Laos have met in Udomxay province to seek out ways of boosting investment in the region.
The Sept. 26 event was co-organised by the Vietnamese Consulate General in Luang Prabang province, the Vietnamese Association in Udomxay province and attended by Governor of Udomxay province Khamla and Vietnamese Ambassador Ta Minh Chau.
During the meeting, several businesses pointed out obstacles that hamper Vietnamese investors in northern Laos and debated issues including land clearance, foreign workers on large-scale projects, power resources, mining projects, land leasing procedures, tax and export fees.
They also agreed to set up a Vietnamese business liaison board in northern Laos .
Addressing the event, Khamla said that Udomxay province has outlined its renewal policies to lure more foreign businesses to the province, and implement incentives stated in the 2009 new law to encourage investment, while creating favourable conditions for Vietnamese investors.
On the occasion, Dien Bien Rubber Company signed appendixes to complete the already-signed agreement on rubber investment cooperation in Udomxay province.
Lao northern provinces , including Bokeo, Hua Phan, Luang Prabang, Luang Namtha, Udomxay, Phongsali, Xaynhabuli and Xieng Khoang, have enormous potentials in mineral, hydroelectricity and land but remain a low-income region compared with others.
Vietnam has deployed 104 projects in the northern Lao region with a combined capital of only 67.3 million USD out of 2.4 billion USD the country has invested in the region with 219 projects.
vietnamplus
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