VN among top three investors in Laos

17:20 | 16/09/2014

VGP – Viet Nam currently ranks third among foreign investors in Laos, with a total investment capital of US$5 billion, according to a workshop in Vientiane on September 15.

The workshop was jointly held by the Vietnamese Embassy and the Association of Viet Nam Investors in Laos (AVIL).

At the event, Minister Counsellor to Laos Tran Manh Cuong reviewed advantages and disadvantages when investing in Laos, analysed causes and difficulties, and proposed solutions for to speed up an investment strategy in Laos by 2020, simplify procedures, create favourable conditions for enterprises to access capital, classify and revoke infeasible projects, and strengthen state management.

Recommendations and solutions will be submitted to the 37th session of the Viet Nam-Laos Inter-governmental Committee, which is due to take place in late December.

Now, key Vietnamese exports to the Lao market include oil, steel and transport vehicles.

Viet Nam’s major projects are related to the construction of hydro-electric power plants and the planting of rubber trees.