(MPI) - Vietnamese Minister of Planning and Investment Nguyen Chi Dung, head of the Vietnam-Laos Cooperation Committee and his Lao counterpart Khamjane Vongphosy, who is also head of the Laos-Vietnam Cooperation Committee co-chaired the Vietnam-Laos business conference on March 21, within the framework off his visit to Laos.
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Vietnamese Minister Nguyen Chi Dung (L) and Lao Minister Khamjane Vongphosy. Photo: MPI |
The event aimed to speed up the implementation of large-scale Vietnamese-invested projects in Laos and seek new cooperation projects of strategic importance, because economic cooperation is a major pillar and priority for the comprehensive partnership between the two countries.
At the conference, Minister Nguyen Chi Dung congratulated Minister Khamjane Vongphosy on his appointment as Lao Minister of Planning and Investment, head of the Laos-Vietnam Cooperation Committee and believed that he would contribute to deepening the great friendship and comprehensive cooperation between the two countries. It is also anticipated that the two sides give priorities on implementing the set goals in the Vietnam-Laos cooperation plan in 2022, which is the year of solidarity and friendship between the two countries and the 60th anniversary of the bilateral diplomatic ties. Businesses of both sides highlighted the advantages and difficulties during the investment process in Laos over the past time.
Minister Dung said that in order to promote investment cooperation between the two sides, it is necessary to focus on five major groups of solutions, including maintaining macro-economic stability, forming a stable and transparent legal corridor, building a favorable business environment and enhancing investors’ confidence during the implementation of projects in Laos.
The two sides should have special mechanism for some strategic projects that leverage the economic cooperation while striving to approach development partners to mobilize resources for large-scale cooperation projects and projects that increase infrastructure connectivity between the two countries. The minister also suggested that Vietnam and Laos make use of resources to speed up investment projects while ensuring schedule and laws of both countries.
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Overview of the conference. Photo: MPI |
Minister Khamjane Vongphosy spoke highly of the Vietnamese enterprises’ efforts and determination to do business and invest in Laos despite various challenges. These are achievements of both countries, directly contributing to the defense and construction of Laos.
The Lao MPI will continue working to remove obstacles about processes and procedures to create the most open and transparent investment environment. The minister suggested that the Vietnamese side continue to create favorable conditions for Lao enterprises to invest and do business.
Within the event’s framework, several important agreements were signed under the witness of the two ministers, including the agreement on implementing the construction of Vientiane-Vung Ang Railway between FLC Group and Petroleum Trading Lao Public Company, and an agreement on cooperation in the energy sector across the Vietnam-Laos border between T&T Group and Phongsubthavy Group./.
Bao Linh
Ministry of Planning and Investment