Lao Prime Minister Sonexay Siphandone hosted a cordial meeting in Vientiane on February 14 with Vietnamese and foreign enterprises from various countries. The delegation was led by Nguyen Hong Hue, Chairman of the Business Association of Overseas Vietnamese (BAOOV), and joined by Vietnamese Ambassador to Laos Nguyen Minh Tam.

At the meeting, Nguyen Hong Hue provided an overview of the association’s activities and shared insights from the seminar on investment and business opportunities in Laos, attended by businesses from multiple countries.

He regarded the meeting as a valuable opportunity for overseas Vietnamese enterprises and international firms to showcase their strengths. He expressed hope that the Lao government would facilitate investments in key sectors such as energy, mining, education, healthcare, high-tech agriculture, raw material plantations for wood pellet exports, trade, e-government, and the construction of an oil pipeline from Vietnam’s Ha Tinh province to Vientiane.

Furthermore, he called on the Lao government to provide further details on investment policies, mechanisms, and priority sectors while ensuring a favorable business environment for Vietnamese and foreign enterprises to carry out their current and future projects.

On the Lao side, Prime Minister Sonexay Siphandone highly valued the outcomes of the seminar on investment and business opportunities in Laos, while affirming that Laos remains an attractive investment destination for Vietnamese and international businesses.

He noted that despite being a landlocked country, Laos serves as a vital transit hub linking Vietnam with Thailand and other regional nations. He highlighted ongoing plans to develop North-South and East-West expressways, which, once completed, will significantly cut transportation time and costs, boosting trade and people-to-people exchanges between Laos and neighboring countries.

The Prime Minister underscored Laos' untapped potential for trade and investment, particularly in agriculture, tourism, logistics, and infrastructure development. He reaffirmed the government’s commitment to offering optimal conditions for Vietnamese and international investors to swiftly implement their projects in Laos.

Earlier the same day, Lao Deputy Prime Minister in charge of economic affairs, Saleumxay Kommasith, also met with Vietnamese businesses operating both domestically and internationally, alongside other foreign enterprises.

Vietnam, Laos eye long-term, sustainable trade ties

Prime Minister Pham Minh Chinh’s working trip to visit Laos and co-chair the 47th meeting of the Vietnam-Laos Inter-Governmental Committee is expected to help create a breakthrough in the two countries’ economic, trade and investment cooperation.