Thailand
Vietnam investments boost Laos’ socio-economic development
Vietnam and Laos are two neighboring countries that boast a long-standing traditional friendship. Over recent years, hundreds of Vietnamese companies have made investment in Laos, generating more jobs, raising income for local people and changing the face of remote and difficulty-stricken areas.
12 years ago, Bachiang was one of the most poverty-ridden districts of Champasak province. The locality’s face has been changed rapidly since the Viet-Laos Rubber Corporation invested in planting rubber trees here.
The investment has improved the local people’s living conditions, helping them to abandon normadic life and farming.
Vi Inthakumman, a worker at Viet-Laos Rubber Corporation said: “In the past, my family did farm work only. I even had to mow to earn our living. In 2005, my husband and I started working for the Viet-Laos Rubber Corporation. We now can afford housing and children’s schooling. Thanks to the improved infrastructure, the living conditions of local people have been better than before.”
Another worker at Viet-Laos Rubber Corporation Thavon Sukchaleun told reporters: “My family did not have a place to live before but now we have a home and jobs. We even have our health checked by Vietnamese doctors every year. We are very grateful.”
The Viet-Laos Rubber Corporation started its investment in Bachiang in 2005. It now generates jobs for more than 3,000 local people. The business has paid attention to ensuring social security, improving the lives for Lao people.
According to Nguyen Tuan Dung, Deputy General Director of Viet – Laos Rubber Corporation, the project was implemented under a cooperation programme between the two countries and in line with the Laos-Vietnam friendship. The company laid down as its policy to invest in ensuring social security, building schools, roads and power grids. The project aimed to turn Bachiang from a poor district into the one where local people could have higher income.
Vietnam now stands as one of the biggest investors in Champasak, pouring money into rubber mostly. Vietnamese-invested projects have been welcomed not only by local people, but also local authorities.
Buasone Vongsongkhon, deputy head of Champasak province hailed the significance of the project to the province socio-economic development, saying that so far, Vietnamese investments in Champasak had proved their effective, contributing to boosting the province’s socio-economic development, changing the lives of people in the locality.
By the end of 2016, Vietnam had invested nearly 4 billion USD into more than 400 projects in Laos, focusing on hydropower, mining, transport, industrial plants and services. The investments have helped strengthen the traditional relationship, special solidarity and comprehensive cooperation between the two countries.-VNA
Source: https://en.vietnamplus.vn/vietnam-investments-boost-laos-socioeconomic-development/124303.vnp