(MPI) - The Vietnam-Laos investment cooperation conference was hel in Hanoi on January 7, as part of Lao Prime Minister Sonexay Siphandone’s official visit to Vietnam.
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Signing of investment certificates and memoranda of investment cooperation between Vietnam and Laos. Photo: MPI |
Evaluating the investment cooperation between the two countries, Minister Dung stated that in 2023, Vietnam invested 116.6 million USD in Laos, an increase of 65.3% compared to 2022. To now, Laos continues to rank first among the 80 countries and territories Vietnam investing aboard, with 245 projects worth about 5.5 billion USD. Vietnam remains one of the top three largest investors in Laos.
Many projects have been operating stably and effectively, contributing to socio-economic development, budget revenue, social security, job creation, training and skill improvement for workers, and infrastructure improvement in some localities. Vietnamese businesses have contributed over 150 million USD to social security work in Laos.
To have breakthrough in investment cooperation with Laos, Minister Dung said the MPI proposes some key contents. Firstly, Vietnamese and Lao agencies should coordinate to promote investment in the fields in line with Laos’s priority orientations, such as energy, mining, high-tech agriculture, and tourism, especially in the border areas of the two countries.
The two sides should focus on encouraging Vietnamese businesses to invest in large-scale projects in Laos; promoting and facilitating capable and experienced Vietnamese businesses to invest in high-tech agriculture projects with high added value, local processing, and export.
Secondly, the ministries, sectors, and relevant agencies of the two countries need to actively implement the agreements and treaties signed between the two sides with high determination, quickly and synchronously, to create a legal basis, ensuring safety for investment and business activities, and timely resolving difficulties and obstacles for businesses.
Vietnam continues to share with Laos its experience in attracting and effectively managing foreign investment, accompanying Laos in building and improving laws and policies to attract resources for investment development.
Thirdly, the Lao Government and relevant agencies are requested to have effective solutions to stabilize the macro-economy, ensure major economic balances, and attract development investment.
Fourthly, the Vietnamese business community investing in Laos must fully comply with Lao legal regulations; propose new ideas to soon realize potential investment projects in cooperation between the two countries; guide new businesses to efficiently implement investment projects in Laos.
Lao Prime Minister Sonexay Siphandone affirmed that with its responsibility, the Lao Government is ready to listen to opinions to support businesses in overcoming difficulties and carrying out increasingly effective investment and business activities in Laos.
Lao authorities will pay attention to implementing the regulations to solve difficult issues and obstacles, creating a new important turning point in focusing efforts to implement projects, especially those that have been licensed, to complete on schedule and with quality.
He expressed his hope for increasingly deep and effective cooperation between Laos and Vietnam, in accordance with the spirit of guidance from the two Politburos.
Vietnamese Prime Minister Pham Minh Chinh assessed that the great friendship, special solidarity, and comprehensive cooperation between Vietnam and Laos are developing well in all fields.
He also emphasized that economic and investment cooperation are strategically significant and needs prioritization to further promote different potential, outstanding opportunities, competitive advantages, and contribute to building an independent, self-reliant, proactive, and actively internationally integrated economy of each country, bringing practical benefit for people and businesses of both countries.
He asked to countinue promote public-private cooperation to develop infrastructure, connect the two economies, especially the Hanoi - Vientiane expressway, the Vung Ang - Vientiane railway to connect Laos to the sea, aviation cooperation, and infrastructure connecting border gates.
The two sides need to create breakthrough in the development of high-quality human resources, considering this a central task in the relationship between the two countries in the coming time, focusing on promoting cooperation in priority fields such as high-tech industry, innovation, energy, mining, high-tech agriculture, e-commerce...
The two Prime Ministers also witnessed the awarding of investment certificates and memoranda of investment cooperation between agencies, investors, and businesses of Vietnam and Laos in various fields such as finance, agriculture and mining./.
Bao Linh
Ministry of Planning and Investment