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| Prime Minister Pham Minh Chinh attends the Vietnam - Laos Investment Cooperation Conference 2024. (Source: VNA) |
Also attending the conference were: Minister of Planning and Investment Nguyen Chi Dung, Chairman of the Vietnam - Laos Cooperation Committee; representatives of leaders of ministries, departments, branches, central agencies and representatives of associations and enterprises of Vietnam and Laos.
At the conference, the two sides introduced the investment environment and policies of Vietnam and Laos; assessed the results of investment and business cooperation achieved in recent years; discussed the orientation of investment cooperation between the two countries in the coming time; reflected on some difficulties and recommendations of the Vietnamese business community in Laos that need to be resolved; the ability and desire for investment and business cooperation of enterprises of the two countries in various fields...
The conference said that in recent times, Vietnam - Laos investment cooperation has continued to have positive changes. Vietnam currently has 241 investment projects in Laos with a total registered capital of 5.47 billion USD. Laos has always maintained the first position among 80 countries and territories with overseas investment of Vietnamese enterprises. Vietnam is also always in the top 3 countries with the largest direct investment in Laos. Many projects of Vietnamese enterprises operate effectively, contributing positively to the socio-economic development of Laos. However, the above results are not commensurate with the potential and good relations between the two countries.
Speaking at the conference, appreciating the significance of the conference, Lao Prime Minister Sonexay Siphandone highly agreed with the practical assessments of the investment and business situation in Laos; acknowledged the opinions reflecting difficulties, as well as proposals on measures to support businesses to overcome difficulties and obstacles and develop.
Prime Minister Sonexay Siphandone said that the growth of Vietnamese enterprises investing in Laos in recent times has contributed to stimulating development, realizing socio-economic goals and building an independent and self-reliant economy of Laos; he said that in the coming time, the Governments, enterprises and people of the two countries need to continue to make efforts and determination to create new turning points, implement new cooperation projects, concretize and effectively implement the agreement between the two Politburoes of Vietnam and Laos, so that the Vietnam-Laos cooperation relationship will increasingly develop in depth, substantially and effectively.
Prime Minister Sonexay Siphandone said that recently, the Lao Government has focused on building and perfecting institutions, including investment incentive policies; developing plans, including plans for 12 economic zones and industrial parks nationwide; is requesting ministries and branches to continue researching and supplementing investment incentive policies suitable for each stage; and at the same time continue to listen to and resolve difficulties and obstacles for businesses to develop.
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| Vietnam - Laos Investment Cooperation Conference 2024. (Source: VNA) |
The Lao Prime Minister hopes that Vietnamese enterprises will continue to learn about and invest in Laos in areas where Laos has strengths such as clean agriculture, agricultural processing, minerals, clean energy, etc.; said that in 2024, Laos will assume the ASEAN Chairmanship, with the theme "Enhancing connectivity and resilience", the Lao Government hopes that Vietnam in general and the Vietnamese business community in particular will support Laos to successfully assume its role; hopes to welcome more Vietnamese people to visit Laos, especially during the Laos Tourism Year 2024.
Prime Minister Pham Minh Chinh emphasized that the great friendship, special solidarity and comprehensive cooperation between Vietnam and Laos are developing well in all fields. In particular, economic and investment cooperation between the two countries is an objective need; has strategic significance; needs to be prioritized to further promote to develop the unique potential, outstanding opportunities, competitive advantages and contribute to building an independent, self-reliant, proactive and internationally integrated economy of each country.
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| Prime Minister Pham Minh Chinh speaks at the Vietnam-Laos Investment Cooperation Conference 2024. (Source: VNA) |
Appreciating the results of cooperation in recent times, Prime Minister Pham Minh Chinh said that economic and investment cooperation between the two countries in the coming time needs to have breakthroughs. In particular, it is necessary to promote public-private cooperation to develop infrastructure, connect the two economies, including investment in building highways, railways, and air routes connecting the two countries; building infrastructure connecting border gates.
Along with that, creating a breakthrough in developing high-quality human resources of both sides, considering this a key task in the relationship between the two countries in the coming time; focusing on promoting cooperation in priority areas such as: high-tech industry, innovation, energy, mining, high-tech agriculture, e-commerce...
“Laos has abundant raw materials, while Vietnamese enterprises have processing capabilities. In particular, Vietnam has a large market with 15 signed Free Trade Agreements (FTAs), which can help Lao goods access,” the Prime Minister pointed out.
The Head of the Vietnamese Government requested ministries, branches, localities and enterprises of both sides to coordinate and resolve pending projects and outstanding issues; prioritize and promote investment. The Government of each country continues to develop policies, perfect institutions, create a legal framework and a favorable investment environment; increase public investment to lead private investment; continue to reform administrative procedures to reduce compliance costs and input costs for enterprises; in particular, have appropriate priority policies for enterprises of both countries, in the spirit of "harmonized benefits, shared risks", "harmonized interests between the State, people and enterprises".
Prime Minister Pham Minh Chinh emphasized that each program and project not only has economic significance but also profound political significance. The success of investment cooperation programs and projects demonstrates and strengthens political trust, contributes to socio-economic development, brings happiness and prosperity to the people of each country; consolidates and strengthens the great friendship, special solidarity, and rarity between Vietnam and Laos; contributes to building a peaceful, cooperative and developing environment in the region and the world; believes that the results of Vietnam - Laos investment cooperation in 2024 will be higher than in 2023, creating a premise for the results in 2025 to be higher than in 2024 and this term, higher than the previous term.
At the conference, Prime Minister Pham Minh Chinh and Lao Prime Minister Sonexay Siphandone witnessed the ceremony of awarding investment certificates and investment cooperation memorandums between agencies, investors and enterprises of Vietnam and Laos in the fields of finance, agriculture and mineral exploitation.
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