Forum seeks to iron out snag for Vietnamese businesses in Laos

As part of his speech at the event, Vietnamese Ambassador Nguyen Ba Hung said many projects invested by Vietnamese enterprises in Laos are operating effectively, thereby helping to create jobs and improve the income of thousands of local workers. Indeed, this has greatly contributed to the Laotian state budget, especially in the fields of telecommunications, banking, and agriculture-forestry. 

The country’s investment in the neighbouring nation surged by 49% over the initial 11 months of 2022 and is anticipated to soar by 57.7% for the whole year, noted the diplomat. 

Vietnamese Deputy Minister of Industry and Trade Tran Quoc Phuong said he hopes relevant Laotian agencies continue supporting and helping to remove difficulties and obstacles facing Vietnamese businesses investing there. 

He therefore urged local financiers and firms to speed up the implementation of investment projects in Laos, strictly abide by the laws of the two countries, as well as paying close attention to protecting the environment and social security activities in the host country.

The forum saw representatives from Vietnamese enterprises brief participants on their situation and propose solutions to outstanding difficulties in the fields of energy, minerals, agriculture, and services. 

In his remarks, Laotian Minister of Planning and Investment Khamjane Vongphosy hailed the contributions made by Vietnamese enterprises to his country, stressing that they are not only important to the socio-economic development of Laos, but they also help to promote the strong traditions between the two nations.

Opinions collected during the course of the forum will be submitted to the Laotian Government in the near future, he said.

The forum is taking place as part of activities to prepare for the 45th meeting of the Vietnam–Laos Intergovernmental Committee on Bilateral Cooperation and the Vietnam-Laos Investment Cooperation Conference which is due to run later this month in Vientiane.