Laos has introduced various incentive policies to attract businesses from Ho Chi Minh City to invest.

The Lao government has introduced many preferential policies to invite businesses from Ho Chi Minh City to invest in sectors such as modern agriculture , agricultural product processing, clean energy, mineral processing, tourism, and logistics.

Laos has introduced various incentive policies to attract businesses from Ho Chi Minh City to invest.

The Lao government has introduced many preferential policies to invite businesses from Ho Chi Minh City to invest in sectors such as modern agriculture, agricultural product processing, clean energy, mineral processing, tourism , and logistics.

On December 27th, in Ho Chi Minh City, the Lao Consulate General in Ho Chi Minh City, in coordination with the People's Committee of Ho Chi Minh City, organized the Vietnam-Laos Trade and Investment Promotion Forum 2024.

Regarding investment between the two countries, Mr. Vansy KouaMoua, Deputy Minister of Culture, Information and Tourism of Laos, stated that Vietnam is one of the three largest investors in Laos, along with China and Thailand.

Currently, Vietnamese investment in Laos comprises a total of 417 projects, with a total approved value of nearly 5 billion USD. Of these, projects with 100% Vietnamese capital account for 4.6 billion USD.

Vietnamese businesses have invested largely in agriculture (US$680 million), electricity (US$980 million), mining (US$1 billion), and other services (US$2 billion).

Within the framework of the Forum, Vietnamese and Lao businesses signed investment cooperation agreements.

Assessing the investment potential in Laos, Mr. Dinh Khac Huy, Deputy Director of the Department of Planning and Investment of Ho Chi Minh City, believes that the room for investment and trade cooperation between Vietnam and Laos in general, and between Ho Chi Minh City and Laos in particular, remains very large.

According to Mr. Huy, to transform potential into concrete results, businesses in Ho Chi Minh City need to focus on areas where they have strengths, such as renewable energy and agricultural processing. "Localities in Laos have great potential in renewable energy and agricultural production, while Ho Chi Minh City has a large number of businesses with potential in terms of capital and technology in these fields," Mr. Huy emphasized.

Besides renewable energy and agricultural processing, the two sides can also promote cooperation in education , human resource training, and tourism.

During the discussion, several businesses raised questions about the Lao government's support policies for businesses investing in high-tech agriculture.

A representative from Bach Anh Hao Commercial Development Solutions Co., Ltd. asked what support policies the Lao government has for high-tech agricultural models like SmartFarm?

Informing businesses, Mr. Phaophongsavath Phouvong, representative of the Investment Promotion Department, Ministry of Planning and Investment of Laos, said that the Lao Government is inviting businesses from Ho Chi Minh City to invest in modern agriculture, agricultural product processing, clean energy, mineral processing, tourism, and logistics.

Businesses investing in the aforementioned sectors will enjoy many preferential policies such as exemption from corporate income tax; exemption from land lease or concession tax; exemption from import tax on materials and equipment that cannot be produced domestically and machinery used in direct production.

The preferential rates will depend on the sector and location of the project. Furthermore, businesses investing in special economic zones will receive additional investment incentives.

Foreign investors investing in Laos will be given the most favorable conditions in registering businesses, applying for operating licenses, residence permits, and investment visas.

Source: https://baodautu.vn/lao-dua-ra-nhieu-chinh-sach-uu-dai-de-thu-hut-doanh-nghiep-tphcm-dau-tu-d236284.html