Deputy Prime Minister Nguyen Chi Dung called on Vietnamese enterprises to carefully study the market and legal policies of Laos, propose investment ideas and "transform" ideas into specific projects, contributing to realizing the potential of economic cooperation, soon bringing investment cooperation between the two countries to 5 billion USD - Photo: VGP/Thu Sa
On July 9, during his official visit to Laos, Deputy Prime Minister Nguyen Chi Dung and his delegation attended the seminar "Leaders of the Governments of Vietnam and Laos with businesses". Also attending the program was Lao Deputy Prime Minister Saleumxay Kommasith.
This is an important event to evaluate the achieved results, and at the same time exchange and propose solutions and directions to promote and expand investment cooperation between the two countries in the coming time.
Before the discussion, Deputy Prime Minister Nguyen Chi Dung and Deputy Prime Minister Saleumxay Kommasith had a successful meeting.
Lao Deputy Prime Minister Saleumxay Kommasith expects Vietnam to rank No. 1 in investment in Laos, with bilateral trade striving to reach 5 billion USD in the near future - Photo: VGP/Thu Sa
Speaking at the event, Deputy Prime Minister Nguyen Chi Dung said that Vietnam has risen to become the 32nd largest economy in the world , among the top 20 countries in terms of trade and FDI attraction. GDP per capita in 2024 will reach more than 4,700 USD, approaching the upper middle-income threshold.
In particular, the Party and State of Vietnam have set a growth target of 8% or more by 2025 and double-digit growth in the 2026-2030 period, aiming for upper-middle-income status by 2030 and high-income status by 2045.
Notably, Vietnam is resolutely implementing the policy of merging and streamlining the apparatus. Since July 1, 34 provinces and cities across the country have officially operated smoothly at two levels of local government, including provincial and communal levels. This is an important historical milestone in the process of administrative reform in Vietnam.
Deputy Prime Minister Nguyen Chi Dung asked the Lao Government to continue creating the most favorable conditions for Vietnamese enterprises to do business and contribute to the economic development of Laos - Photo: VGP/Thu Sa
Deputy Prime Minister Nguyen Chi Dung highly appreciated the Lao Government's strong reform efforts and initial, positive and remarkable successes. In particular, the Lao Politburo decided to establish an Investment Promotion Committee to directly support and resolve investment difficulties of enterprises.
"This move demonstrates Laos's deep, focused, substantive and effective reform progress," Deputy Prime Minister Nguyen Chi Dung emphasized.
Believing that Laos has great potential, the Deputy Prime Minister suggested a number of areas that Vietnamese enterprises should increase their research and investment in, such as energy, especially renewable energy; mining; agriculture, high-tech agriculture; tourism and rubber industry.
Deputy Prime Minister Nguyen Chi Dung asked the Lao Government to continue creating the most favorable conditions for Vietnamese enterprises to do business and contribute to the economic development of Laos.
Wishing the economic relations between the two countries to become increasingly close and reap many successes, the Deputy Prime Minister requested that Vietnamese enterprises "must keep their promises, must carry out their commitments, invest and do business seriously, responsibly, in accordance with the policies and laws of the host country, and join hands to strengthen and nurture the special relationship between Vietnam and Laos".
Deputy General Director of Vietnam Chemical Group Dao Ngoc Cuong shares his opinion at the discussion - Photo: VGP/Thu Sa
Also at the discussion, representatives of Vietnamese business leaders: Chairman of the Vietnam Rubber Industry Group Tran Cong Kha proposed expanding rubber planting projects and applying high technology in Laos. Deputy General Director of the Vietnam Chemical Group Dao Ngoc Cuong expressed his hope that the Lao Government would support the mechanism to shorten the time for approving feasibility reports and environmental impact reports in project implementation, create conditions for recruiting Lao unskilled workers, and speed up the progress of compensation and site clearance.
Lao Deputy Prime Minister Saleumxay Kommasith said that Laos has been actively streamlining the administrative system, cutting down procedures, and reforming investment promotion mechanisms. The Lao government sees the determination and enthusiasm of Vietnamese enterprises investing in Laos. If there are any problems, enterprises can directly inform and coordinate with the Investment Promotion Committee, as well as relevant ministries, departments, and branches to resolve them together.
"We cooperate on the basis of a special friendship. I hope the two sides will coordinate more closely and effectively to implement key strategic projects," Deputy Prime Minister Saleumxay Kommasith emphasized and encouraged investors from both countries to exchange regularly and join forces more.
Affirming that the Lao Government is always open and welcoming to Vietnamese enterprises, and hoping that Vietnamese investors will increase in both quantity and quality, Deputy Prime Minister Saleumxay Kommasith expected Vietnam to be the number 1 investor in Laos, with bilateral trade striving to reach 5 billion USD in the near future.
Thu Sa
Source: https://baochinhphu.vn/hop-tac-dau-tu-viet-nam-lao-phan-dau-som-can-moc-5-ty-usd-102250709164716953.htm
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