Vietnamese enterprises commit to long-term investment in Laos

Within the framework of the official visit to Laos, on the afternoon of May 15, President of the National Assembly Vuong Dinh Hue attended a meeting at a meeting of 30 businesses representing more than 200 enterprises. Vietnamese company is investing and doing business in Laos with more than 417 projects. This is the first official visit to Laos by a key Vietnamese leader in the Laos-Vietnam Friendship Year 2022, and also the first official visit to Laos by Comrade Vuong Dinh Hue as President. Congress.

The visit took place in the context of the great friendship, special solidarity and comprehensive cooperation between the two Parties, the two countries continued to be strengthened, increasingly attached, trusted, played a pivotal role, determining overall direction of bilateral relations. In particular, the two countries are holding many activities to celebrate the 60th anniversary of the establishment of diplomatic relations and the 45th anniversary of the signing of the Vietnam – Laos Treaty of Friendship and Cooperation.

At the meeting with National Assembly Chairman Vuong Dinh Hue, the representative of Vietnamese businesses investing and doing business in Laos affirmed their commitment to long-term investment in Laos, many people consider Laos as their second homeland.

In order to promote investment and trade relations, businesses propose: The Governments of the two countries create favorable conditions for people, goods and vehicles to pass through the border gates between the two countries in the simplest, most reasonable and fastest way. maybe. Improve the payment mechanism, and at the same time speed up the transport connection between the two countries.

Many businesses suggested that, with the relationship between the two countries being a special relationship, it is also necessary to have a special mechanism such as a payment mechanism not through a foreign currency.

National Assembly Chairman Vuong Dinh Hue delivered a speech. . Photo: VNA.

As a close follower from the beginning of the investment and business process of Vietnamese enterprises in Laos, National Assembly Chairwoman Vuong Dinh Hue pondered that she must be determined to develop economic, trade and investment relations to match the political relationship. governance, diplomacy of the two countries, exemplary relationship, and loyalty are rare like brothers and sisters.

The National Assembly Chairwoman emphasized that the trade turnover between the two countries currently only reached 1.3 billion USD, which is too modest, asking the business community, leaders of ministries and branches to think together and be patient to overcome this period. with many current difficulties.

Lao economy are being severely impacted by the COVID-19 pandemic, but the potential for cooperation is huge. The President suggested that the business community, besides attaching importance to business goals, also needs to identify feelings and responsibilities towards Laos, and the development of the special relationship between Vietnam and Laos.

The National Assembly Chairman also noted that the Vietnamese Embassy in Laos synthesizes fully and in detail the recommendations and proposals of businesses to send to the Governments of Laos and Vietnam, thereby quickly handling the difficulties. current difficulties and problems.

In the immediate future, it will be consulted with ministries and branches at the two countries’ conference on May 16, and this year will continue to hold a large conference in Hanoi to find the earliest solution. Exchanging experiences to overcome the post-COVID-19 period together is also the most practical way to celebrate the 60th anniversary of the two countries’ relations.

Previously, visiting Laos – Vietnam Bank – a joint venture of BIDV in Laos, National Assembly Chairman Vuong Dinh Hue recognized and highly appreciated the performance of this model in recent years. Looking forward to the next time, the bank needs to do a good job of acting as a bridge for Vietnamese businesses to promote successful investment and business in Laos. Besides credit activities, the bank also needs to develop non-credit services to promote trade exchange, bilateral import and export turnover to 2 billion USD.

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