Laos, Vietnam promote investment cooperation

(VOV) - Laos has licensed 412 Vietnamese projects with pledged capital of more than US$5 billion, ranking Vietnam second among foreign investors in the country.

The figure was released at a meeting between the Ministries of Planning and Investment (MPI) of Vietnam and Laos in Vientiane on March 14.

Vietnamese Minister Bui Quang Vinh and Lao Minister Somdi Duong briefed each other on their respective countries’ economic situation and evaluated cooperative results in recent times.

They noted Vietnam’s official development assistance (ODA) for Laos has been used effectively on schedule.

Both sides have worked closely to timely address concerns to promote development investment.

They agreed to strengthen comprehensive cooperation in investment and planning, increase investment promotions in each country, and handle obstacles to joint projects over 2014-2015.

They will closely monitor the implementation of signed agreements, including the 2011-2020 cooperation strategy, the 2011-2015 cooperation agreement, and the Laos-Vietnam cooperation strategy in Xiengkhouang and Houaphan province till 2020.

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