The builders of friendship between the two countries

Vietnamese Ambassador to Laos Nguyen Minh Tam speaks. (Photo: Xuan Tu)

On the evening of October 13 in Vientiane, the Vietnamese Business Association in Laos (AVILA) held a meeting to celebrate the 20th anniversary of Vietnamese Entrepreneurs' Day, to honor the contributions of Vietnamese businesses and entrepreneurs to socio-economic development and to strengthen cooperation between the two countries.

Attending the event were Vietnamese Ambassador to Laos Nguyen Minh Tam; Chairman of the Central Committee of the Vietnam Business Association in Laos Duong Dinh Bang; representatives of Vietnamese agencies at the Embassy; representatives of the Laos-Vietnam Cooperation Committee; representatives of the Lao Ministry of Industry and Trade and many members of the Vietnam Business Association in Laos.

Vietnamese Ambassador to Laos Nguyen Minh Tam said Laos currently ranks first among 80 countries and territories in which Vietnam invests abroad, with 256 projects and a total registered capital of about 5.5 billion USD.

Vietnam also ranks third among countries investing in Laos. Ambassador Nguyen Minh Tam said that Vietnam's investment projects are present in 17 out of 18 provinces of Laos, spanning many fields.

In the first six months of 2024, registered investment capital to Laos reached 35.5 million USD, an increase of 35% over the same period in 2023. Accumulated realized capital to date reached about 2.8 billion USD.

Many projects have operated effectively, contributing to socio-economic development, creating jobs and increasing income for workers, while also adding revenue to the Lao state budget.

In addition to investment activities, Vietnamese enterprises have fulfilled their financial obligations and participated in social security activities in Laos. These figures demonstrate the efforts, endeavors and growing strength of Vietnamese enterprises in Laos.

Leaders of the Ministry of Industry and Trade and the Ministry of Planning and Investment of Laos awarded certificates of merit to groups and individuals with outstanding achievements. (Photo: Xuan Tu)

According to Ambassador Nguyen Minh Tam, promoting the spirit of solidarity and friendship, Vietnamese enterprises and businessmen have become the frontline force in promoting investment and trade with the aim of creating an economic breakthrough between the two countries, bringing economic and trade development between the two countries commensurate with the exceptionally good relationship in politics, diplomacy, defense and security as expected by the leaders of the Party and State of the two countries.

In the coming time, to contribute to promoting the economic cooperation between the two countries, contributing to the development of the two countries as well as providing the most support for Vietnamese enterprises investing in Laos, the Vietnamese Ambassador to Laos requested the Vietnam Business Association in Laos to continue to promote the spirit of initiative and creativity in its activities; actively support, learn and guide enterprises to properly and fully implement the legal policies of the two countries; be an important bridge between enterprises and the Lao Government; continue to fully and correctly implement the legal policies of the two countries, financial obligations to the Government, build an increasingly good image of Vietnamese enterprises; continue to contribute to supporting the Lao Government, localities and people in economic development, stabilizing life and society.

On this occasion, the Lao Ministry of Industry and Trade and the Lao Council of Industry and Commerce awarded certificates of merit to collectives and individuals with outstanding achievements in contributing to the economic development of Laos and fostering the great friendship, special solidarity and comprehensive cooperation between Vietnam and Laos./.

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