 Prime Minister Pham Minh Chinh speaks at the Vietnam-Laos investment cooperation conference in Vientiane on January 12, 2023 |
The conference reflects the two countries’ determination to upgrade bilateral economic, trade, and investment cooperation into a key pillar of bilateral ties for the practical interests of the two countries’ peoples and businesses.
Vietnam has a total registered investment of 5.34 billion USD in Laos, making it one of the three biggest foreign investors in Laos. Many projects by Vietnamese businesses have performed well, contributing to Laos’ socio-economic development.
In his address, the Prime Minister held that the two Governments should perfect regulations and consistently implement policies to facilitate bilateral investment; maintain political stability, independence, sovereignty, and territorial integrity; create an open investment climate; and provide investment incentives for priority fields. They should also assist each other to build independent and self-reliant economies that actively, extensively, substantively, and effectively integrate into the world.
PM Chinh also asked Vietnamese firms operating in Laos to compete fairly, adhere to local laws, join hands with the two Governments to perfect relevant regulations, and help implement political and social security tasks, thus contributing to the countries’ solidarity and friendship.
 PM Sonexay Siphandone speaks at the Vietnam-Laos investment cooperation conference in Vientiane on January 12, 2023 |
PM Sonexay Siphandone said the Lao Government welcomes opinions and is ready to seek solutions to help Vietnamese investors overcome difficulties and operate profitably.
The Lao Government will assign its Ministry of Planning and Investment to overhaul foreign investment policies and procedures, create a favorable and fair investment climate, improve the readiness to help enterprises effectively carry out projects, and tackle investment and business bottlenecks.
Ministries, sectors, and agencies of Laos will continue providing optimal conditions for major Vietnamese investors in the fields matching its strength and potential, including clean and hi-tech agriculture, renewable energy, services, tourism, and logistics, he added.
The same day, Prime Minister Pham Minh Chinh left Laos concluding his official visit to the country at the invitation of Lao Prime Minister Sonexay Siphandone.