Vietnamese, Lao businesses meet in Vinh Phuc
The event was attended by Vietnamese Deputy PM Nguyen Xuan Phuc and Lao Deputy PM Somsavad Lengsavath among others.
Vietnamese Deputy Minister of Planning and Investment Cao Viet Sinh, Deputy Chairman of the Viet Nam – Laos Cooperation Sub-committee reported that as of late November, Viet Nam engaged in 222 valid investment projects in Laos with the total registered capital of US$3.98 billion.
Laos takes the lead in terms of Viet Nam’s outward investment among 60 countries and territories. Meanwhile, Viet Nam is the third largest investor in Laos.
Viet Nam chiefly invested in the energy sector in Laos with US$1.26 billion (36.9% of total investment); followed by service infrastructure, over US$1 billion (25.3%); forestry and fishery sector, US$855 million; and finance – banking, US$329 million.
Vietnamese businesses have also took part in community-based activities in Laos, including the building of schools, hospitals, roads and social houses, and helped generate around 20,000 jobs for local residents.
Representatives of Vietnamese investors proposed Laos assisting Vietnamese experts and technicians to work there and streamlining administrative procedures to facilitate their investment.
Both Vietnamese and Lao leaders suggested that Vietnamese investors should fulfill their commitments as said in their granted business licenses, including the recruitment of Lao workers.
For his part, Deputy Somsavad Lengsavath highly spoke of Vietnamese investors and promise to seriously consider the investors’ proposals.
Deputy Phuc suggested the two sides set up a dialogue mechanism among respective ministries and agencies to solve obstacles facing businesses of both sides as soon as possible./.
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