Laos, Vietnam bolster investment cooperation

The event was co-hosted by Deputy Prime Minister Nguyen Xuan Phuc and his Lao counterpart Somsavat Lengsavad.

Deputy Prime Minister Phuc, who leads the Joint Government Cooperation Committee said, “We will identify investment needs and orientation in the years to come. Vietnam and Laos share each other’s success in investment. Based on both countries Party Politbureau resolutions, we will target high efficient projects in Laos, including those using FDI and ODA funding in disadvantaged areas."

Phuc called on both nations focus on carrying out their bilateral agreement for 2016-2020, enhancing transport connectivity and speeding up the implementation of the one-door mechanism.

Businesses need to accelerate the progress of licensed projects and comply with local laws, he added.

The Lao Deputy Prime Minister, in turn underlined the need to boost administrative reforms, outline bilateral cooperation mechanisms, and hold a joint Cabinet meeting after the annual meeting of the two Politburos aiming to implement set goals.

He also asked Vietnamese businesses to work hand in hand with Lao authorities to invest in project on health care, education-training, agriculture and tourism.

The conference gave Vietnamese businesses and investors a chance to access new projects in Laos and foster their cooperation in tourism and transport.