Vietnamese President pledge stronger investment ties with Laos
(KPL) Vietnamese President Nguyen Minh Triet has pledged more favourable conditions for further investment and trade relations between Vietnam and Laos.
President Triet, who was on an official visit to Laos, made the promise at a seminar, “Experience, potential and opportunity for Vietnamese investors in Laos” held in Vientiane on August 24. Also on hand was Lao Deputy Prime Minister Somsavat Lengsavat.
Triet requested Vietnamese businesses to explore every opportunity to make long-term investments in Laos and ensure the efficiency in terms of economy, politics and society on the basis of equality, mutual benefits and the interest of both nations.
The Vietnamese leader took this occasion to call on major companies from Laos to seek investment opportunities in Vietnam.
Both President Triet and Deputy PM Lengsavat emphasised that businesses and agencies concerned of the two countries need to correctly evaluate and analyse the reasons behind the current shortcomings to remove them as soon as possible, thereby further advancing the bilateral economic, trade and investment ties.
At the seminar, representatives of Vietnamese firms spoke of opportunities and potential in the Lao market as well as their achievements and proposals to lift the Vietnamese-Lao economic ties on a par with political relations.
Reports delivered at the seminar showed that two-way trade reached USD 212 million in the first half of this year.
The two nations have set the target of USD 2 billion in the bilateral trade by 2015.
Vietnam now ranks third in terms of foreign direct investment in Laos, with 219 projects capitalised at USD 2.4 billion by the end of May 2010.
Vietnamese-invested projects have been carried out in 16 out of the nation’s 17 cities and provinces, focusing on finance, banking, energy, mining, services, agriculture and forestry.
Later in the day, President Triet received the President of the Laos-Vietnam Friendship Association Phankham Viphavanh, and attended the opening of a representative agency of Radio the Voice of Vietnam in Laos.
Lao President Choummaly Sayasone and his wife hosted a banquet on the evening of August 24 in honour of President Triet, his wife and the high-ranking Vietnamese delegation.
back
