Hanoi, Vientiane expand business cooperation
Hanoi and Vientiane have signed cooperation documents within the framework of the working trip by Politburo member, Secretary of the Party Committee and head of the National Assembly deputies' delegation of Hanoi Dinh Tien Dung to the capital of Laos in mid-March.
The Department of Information, Culture and Tourism of Vientiane and the Investment, Trade and Tourism Promotion Centre of Hanoi signed a memorandum of understanding (MoU) of friendship cooperation to research and develop a cooperative programme for tourism promotion activities, and regularly support businesses to connect and explore cooperation and business opportunities.
Hanoi’s association of artisans and skilled craftsmen also inked an MoUs on cooperation, and action programmes with associations in Vientiane, including those of furniture, sculpture, bamboo and rattan, and jewellers.
Nguyen Anh Duong, director of the Hanoi Investment, Trade and Tourism Promotion Centre, said these documents will serve as an important basis and condition for businesses and associations to strengthen collaboration and production. Apart from training and improving skills, the cooperation will also help businesses access markets, develop tourism, and consume typical products of the two capital cities.
According to the Hanoi People's Committee, the city's export value to Laos in 2023 hit US$119.6 million.
The two localities have also arranged field surveys in areas growing agricultural raw materials and a number of handicraft production establishments in Vientiane, Luang Prabang province, and surrounding areas.
Nguyen Manh Quyen, vice chairman of the Hanoi People's Committee, said in 2024, municipal authorities will promote cooperation between Hanoi and Lao localities. The city will also continue to implement the MoU between the Departments of Industry and Trade of Hanoi and Vientiane for the 2022 – 2025 period, thus supporting cooperation of businesses to cooperate and develop.
Trade promotion activities will continue to be organised in Laos, thereby supporting products and businesses of both sides to develop together, and encouraging Hanoi businesses to invest and do business in Laos, especially in agriculture, and agricultural product processing.
Attention will be also paid to providing market information and export policies for businesses exporting to the Lao market.
