The investment sector is becoming an important “
economic ambassador” in the great friendship, special solidarity and comprehensive cooperation between Vietnam and Laos. 241 projects have been and are being implemented well in Laos, promoting clear efficiency, contributing positively to the socio-economic development of Laos and improving the lives of local people.
Working for a Vietnamese company based in Hua Phan province (Laos), Mr. Tien Hung (Hanoi) often travels between the two countries. Each time he travels back and forth, it takes him 2 days to travel by road on winding and dangerous mountain roads. Now, thanks to the operation of Nong Khang airport, Mr. Hung's travel has become much easier, taking him only 1 day to travel. Nong Khang airport, invested in and built by
THACO Group and HAGL Agrico Vietnam in Hua Phan province (
Laos ), was inaugurated and handed over to the Lao Government in June 2023. Since its operation, the airport has contributed to improving and modernizing transport infrastructure, promoting socio-economic development and
tourism of Laos in general and Hua Phan province in particular. Established in 2008 as a joint venture between the Military Industry and Telecommunications Group and Lao Asia Telecommunications Company, Star Telecom Company (Unitel) is considered a model of Vietnam - Laos economic cooperation. Currently, Unitel has become the leading telecommunications enterprise in Laos, accounting for 58% of the mobile market share with more than 3.5 million subscribers, 3G; 4G; 5G network covering the whole country, creating stable jobs for more than 27,000 local workers. In the past 8 months of 2023, the enterprise's service revenue has also reached more than 188 million USD.
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| Unitel implements many social security activities in Laos. Photo: Ha Manh |
Projects of
Vietnamese enterprises not only help develop the socio-economy in Lao localities but also develop infrastructure and ensure social security, which are highly appreciated by the Lao side. Previously, for a family in Bachieang district, Champasak province (Laos), it was very difficult to own a bicycle. However, since the Vietnam - Laos Rubber Company Limited implemented investment projects in Champasak province and Bachieang district in particular, the company has brought many benefits in terms of social security, making travel easier and more convenient for local people. People's lives have changed a lot, every family can buy a motorbike, many households can buy cars and other vehicles for their families. From the poorest district in the province, thanks to the tax paid by the company, Bachiaeng now has the initiative in operating funds, without having to wait for disbursement funds from the province and the central government as before.
Actively removing difficulties and promoting Vietnam - Laos investment
Vietnam - Laos bilateral cooperation in the 2021-2023 period has had strong changes, contributing significantly to the development of each country, consolidating and strengthening the great friendship, special solidarity and comprehensive cooperation between Vietnam and Laos. According to statistics, Vietnamese enterprises are currently investing in Laos in 241 projects with a total registered capital of 5.47 billion USD. In September 2023, within the framework of the Mid-term Conference of the Vietnam - Laos Cooperation Committee, the two sides focused on reviewing and making a mid-term assessment of the implementation of the Vietnam - Laos Cooperation Agreement in 2023 and the Bilateral Cooperation Agreement for the 2021-2025 period; identifying key contents to promote cooperation between the two countries in the last months of 2023 and until the end of the 2021-2025 period. These are meaningful and important contents.
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| Comrade Sonexay Siphandone - Politburo member, Prime Minister and the high-ranking delegation of the Lao People's Democratic Republic visited the HAGL AGRICO Laos Complex. Photo: Truong Hai |
The two sides agreed that in the coming time, it is necessary to continue to coordinate and promote relevant ministries, branches, localities and agencies to strive to successfully complete the Agreement on the Vietnam - Laos Cooperation Plan for 2023 and the Agreement on Vietnam - Laos bilateral cooperation for the period 2021-2025. Specifically, such as strengthening cooperation in
politics and diplomacy; Strengthening the pillars of cooperation between the two countries in defense and security; Promoting economic cooperation and connectivity; Continuing to promote growth in trade turnover between the two countries; Speeding up traffic connection between the two countries... Focusing on and prioritizing improving the quality of cooperation in education and human resource training; Strongly promoting cooperation mechanisms through the mechanism of the Bilateral Cooperation Committee to coordinate, remove difficulties and obstacles and promote effective economic cooperation between the two countries. Lao Minister of Planning and Investment, Chairman of the Laos-Vietnam Cooperation Committee, Mr. Khamjane Vongphos said that the two countries have been encouraging Vietnamese enterprises to invest in Laos, especially focusing on attracting corporations and companies with financial capacity and expertise, prioritizing investment in clean agriculture, processing industry and potential areas along the Laos-Vietnam border. Developing cultural tourism, nature conservation, including developing clean energy in which Laos has great potential such as wind power, hydropower and solar power. The Lao Minister of Planning and Investment emphasized that in recent times, the Lao Government has attached importance to improving the investment and business environment by cutting unnecessary steps and stages in granting domestic and foreign investment licenses, in order to shorten the investment approval process along with creating transparency at each level of management and creating a favorable environment for investment and trade; affirms that this improvement will create confidence for Vietnamese investors to easily invest in Laos, be able to expand production facilities in Lao production areas, as well as participate in the free trade area more easily.
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