Economic diplomacy contributes to fostering Vietnam-Laos ties

VOV.VN - Promoting economic diplomacy in Laos has become an important focus of the Vietnamese Embassy and representative agencies as it not only strengthens bilateral economic and trading ties, but also cements great friendship, special solidarity, and comprehensive co-operation between the two countries.

Vietnamese Ambassador to Laos Nguyen Ba Hung made the statement during a recent media interview held to discuss economic diplomacy in Laos, which now focuses on trade and investment.

Recent years has seen the Vietnamese Embassy in Laos  grasp the situation and business environment there to offer consultancy to Vietnamese firms.

As a means of protecting the legitimate interests of Vietnamese enterprises, the Embassy has worked alongside the Vietnam Trade Office in Laos in order to update them about the latest regulations in fields of their interest. This has been done whilst assisting domestic agencies in holding trade fairs in Laos, evaluating the efficiency of projects funded by the Vietnamese Government, and realize agreements reached by leaders of the two countries.

According to Ambassador Hung, the Lao Government has ordered that all difficulties faced by Vietnamese firms and reported by the Vietnamese Embassy be swiftly dealt with.

Commenting on the advantages in conducting business in Laos, the diplomat said both nations enjoy a fine relationship, while Laos as a partner boasts huge potential for future co-operation, especially in mining.

The Lao NA also approved a number of new laws aimed at improving the transparency of the domestic business environment and attracting more foreign investors, particularly those from Vietnam.

With regard to the numerous disadvantages, the diplomat said the implementation of policies in several administration agencies and local authorities remains inconsistent. Indeed, Vietnamese enterprises are also under mounting pressure from those based in other countries.

In the near future, Ambassador Hung said the Embassy will offer suggestions to attract more Vietnamese investors to large-scale projects in Laos, especially in hi-tech agriculture for export to Vietnam and other countries.

At the same time, it will work to provide consultation on the linkage between the two economies as a means of realizing bilateral agreements on infrastructure and goods transportation.

According to the diplomat, Laos certainly represents an important market for Vietnam and boasts ample opportunities moving forward.

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