The Hanoitimes - Vietnam’s direct investment in Laos has constantly increased in the 2011-2015 period in the number of projects and registered capital, according to the Vietnamese Ministry of Planning and Investment.
Vietnam and Laos have recorded positive results in strengthening relations in economics, trade and investment with annual average rise of 20 percent in the past five years.
During the dialogue with Vietnamese businesses held recently in Vientiane, Prime Minister (PM) Thongloun Sisoulith hailed highly of their investments, which are making significant contributions to Laos’ socio-economic development.
Prime Minister Nguyen Xuan Phuc speaks at the 2nd Vietnam-Laos Investment Cooperation Conference held in Da Nang City in March, 2016.
The Lao PM pledged to create the most favourable conditions for Vietnamese investors to do business in the country.
The Lao leader called on Vietnamese businesses to invest in Laos to bring mutual benefits.
Vietnam is the third largest investor of Laos, while Laos lures most of investment from Vietnam among 64 countries and territories where Vietnamese businesses are investing in.
The Vietnamese Ministry of Planning and Investment said Vietnam's direct investment in Laos constantly has increased in the number of projects and registered capital in the period 2010-2015.
As of September, Vietnam had 266 licensed investment projects worth 5.1 billion USD in Laos, 1.3 times the number of projects and 1.26 times the total investment capital in 2011.
Vietnamese firms operating in Laos have generated jobs for tens of thousands of locals.
Vietnamese investment projects have contributed to increasing the Lao Government’s budget collection by 240-260 million USD per year, while creating 35,000 jobs. The figures are expected to reach 350-400 million USD and 45,000, respectively, in 2017.
Besides, the signing of the Vietnam - Laos border trade agreement last June served as an important legal tool to drive two-way trade forward.
The birth of the ASEAN Community in 2015 and the development of the sub-Mekong regional transport corridors and economic connectivity has opened up new horizons for investment cooperation between Vietnam and Laos.
Particularly, Party General Secretary Nguyen Phu Trong and a high-ranking delegation from the Vietnamese Party and State began an official visit to Laos on November 24 morning.
This visit of Party General Secretary Trong will certainly contribute to promoting futher the two countries's investment cooperation in the time ahead.