Vietnamese businesses increase investment in Laos
Vietnamese businesses have registered investment capital of US$65.92 million to undertake three projects in Laos during the first six months of this year.
This figure is an increase of 2.5 percent compared to the same period last year, Minister of Planning and Investment, Mr Khamjane Vongphosy, has said.
Mr Khamjane commented on the increase during a meeting held in Vietnam on August 17 with Vietnam’s Minister of Planning and Investment, Mr Nguyen Chí Dung.
The two ministers noted that they had created conditions conducive to the growth of business between Laos and Vietnam, with good results.
Mr Khamjane said the value of trade between Laos and Vietnam surged to US$949 million from January to July this year. This was an increase of 24.11 percent over last year and it is expected that the target figure will be reached by the end of this year.
Both countries must continue to promote trade so that more business is conducted, while also looking at ways to bolster cooperation in the production of new products, such as clean agricultural produce, goods that are environmentally friendly, processed goods, and handicrafts.
In other areas of cooperation between Laos and Vietnam, the under-construction Nong Khang airport in Huaphan province, which borders Vietnam in northern Laos, is expected to carry out test flights on December 2, and will be handed over to Lao authorities in April next year.
In addition, construction of a railway from Thakhaek district in Khammuan province to the Vung Ang seaport in Vietnam is planned.
It is expected that construction of the section between Thakhaek district to the Vietnamese border will begin in October, with completion scheduled for 2025.
Mr Khamjane invited Vietnam to continue to act as a bridge in promotion and publicity to encourage qualified Vietnamese companies to invest in various areas of development in Laos.