Laos has been the largest recipient of Vietnam's overseas investment so far, with 209 projects totalling US$5.1 billion in registered capital, Minister of Planning and Investment Nguyen Chi Dung has said.
Vietnam currently ranks third among Laos’ foreign investors.
The country's investment in Laos has been on the upward trend. In 2021, the country channelled US$118.3 million into Laos, a year-on-year surge of 33%.
Many projects have posted stable and efficient operations, which was highly valued by the Lao government. Some of them have received additional funding for coming years.
The Lao side helped address bottlenecks in a number of major projects, including the building of Vung Ang port, Luang Prabang and Xekaman 3 hydropower plants.
More opportunities in investment cooperation between the countries are expected in the coming time, Minister Dung said.
Last year, 61 projects of Vietnam had their investment certificates renewed with a combined capital of US$409.1 million, up 28.6% compared to 2020.
Vietnam’s investments are primarily in the field of science-technology, wholesale and retail, agro-forestry-fishery, administrative and support services.