Laos represents potential investment destination for Vietnamese firms
VOV.VN - There remains plenty of room for further trade and investment co-operation between Vietnam and Laos, with Laos anticipated to become a potential investment destination in the fields of agriculture, tourism, and logistics for Vietnamese firms moving forward.
This assessment was made by delegates at the Vietnam - Laos Trade and Investment Forum, which was held on December 13 by the HCM City People's Committee in co-ordination with the Consulate General of the Laos People's Democratic Republic in Ho Chi Minh City.
Nguyen Van Nen, a member of the Politburo and secretary of the municipal Party Committee, emphasised that Laos is currently the largest overseas investment market for local firms, ranking first among 78 countries and territories that the nation has invested abroad.
Vietnamese firms have injected money into a total of 238 projects capitalised at US$5.34 billion overseas, of which financiers from Ho Chi Minh City poured roughly US$496 million into 44 projects, mainly in the fields of finance and banking, telecommunications, services, agriculture, and forestry.
Laotian Deputy Prime Minister Sonexay Siphandone affirmed that Vietnamese investment in the neighbouring country has made an important contribution to fulfilling the task of protecting and building Laos.
Vietnam is currently the third largest investor out of 53 countries and territories investing in the Laotian market, but the existing results are still not commensurate with the potential and need for linkages between the two countries.
Lao Deputy PM emphasised that the Lao Government is fully committed to supporting Vietnamese businesses moving forward, with plans to welcome several firms to invest in improving the efficiency of joint economic co-operation.
Phimpha Keomixay, consul general of the Lao People's Democratic Republic in Ho Chi Minh City, emphasized that the two sides have signed bilateral and border trade agreements since 2015, adding that Vietnamese investment activities in Laos have existed in all economic sectors, thereby providing a basis for the establishment of Laos' future industries.
At the forum, Vietnamese businesses signed a total of 17 Memorandums of Understanding (MoU) and one economic contract with Laos in order to implement further co-operation projects in the agricultural field.
