The Ministry of Planning and Investment of Laos and Vietnam in collaboration with Vietnam-Laos Economic Development Association organized in Vientiane on 3 April a meeting to improve the environmental condition for business operation and investment of the Vietnamese investors in Laos.
The meeting jointly chaired by Mr. Sinhlavong Khoupaithoun, Minister of Planning and Investment and his Vietnamese counterpart Vo Hong Phuc was attended by vice ministers and investors from Laos and Vietnam. Speaking at the opening ceremony, Mr. Sinhlavong Khoupaithoun said that the meeting was the significant event to promote and strengthen the special friendship relation and comprehensive co-operation between Laos and Vietnam, especially in the field of business and investment sectors.
Mr. Sinhlavong added that the Laos government is improving an investment law by composing the laws on domestic investment promotion and foreign investment promotion as one law in order to create favourable condition for investors. He said that the said law will be considered at the next session of the National Assembly which is expected to be held on June 2009.
According to Mr. Sinhlavong Khounpaithoun, the investment from Vietnam in Laos today has 172 projects with US$ 1,983 million of total investment. In 2008, the Vietnam was ranked as the top of investor in Laos.