Laos is the largest overseas investment market for Vietnamese companies, ranking first among 78 countries and territories where Vietnam invests overseas with 238 projects with total capital exceeding US$5.34 billion.

Many large-scale projects have been completed and effectively promoted, created jobs, actively contributed to the development of the two countries, recognized and appreciated by the two governments, such as: investment projects of the two countries, companies are: Viettel, HAGL Group, Vietnam Petroleum Corporation; Long Thanh Golf Business and Investment Joint Stock Company golf course and hotel complex project; Activities of branches of joint-stock banks of Vietnam in Laos…

Information at the Vietnam-Laos Trade and Investment Forum held on the morning of December 13, 2022, Mr. Nguyen Van Nen, Secretary of the Ho Chi Minh City Party Committee, said that in relations between the two countries, cooperation between Ho Chi Minh City and Lao localities have also seen many positive results in the past period.

Ho Chi Minh City has now established friendly relations with Vientiane Capital, Champasak and Savannakhet Provinces… and implemented many cooperation activities with Xiengkhuang… in the fields of agriculture, cultural exchanges, trade and health care, education, sports and there are many typical works for these collaborative programs.

Ho Chi Minh City Party Committee Secretary stressed that city enterprises and delegates from other countries should use all the time to exchange, learn and share information on investment incentive measures in order to strengthen trade and investment cooperation activities between the two promote countries in the coming period.

Mr. Sonexay Siphandone, Deputy Prime Minister of Laos, commented that the forum is an opportunity for Lao sectors and communities to work ever more deeply with Ho Chi Minh City and said that this is the basis for organizing the implementation of the treaty in the future.

In the past 2-3 years, the Lao government has made efforts to consolidate infrastructure, improve roads including highways, railways, airports, develop the river port system; establishment and development of a system of transnational bridges; consolidation of freight services; Creating favorable conditions for travel between Laotians and countries in the region.

Laos also has many strategies of developing clean agriculture, processing technology, tourism, especially cultural tourism; Develop renewable energy such as wind energy, solar energy; Efforts to promote innovation in order to adapt to the technological revolution 4.0 and apply modern technologies in production, transport and logistics services; Support small and medium-sized businesses…

The Deputy Prime Minister of Laos confirmed inquiries from Vietnamese companies investing in Laos and intending to invest in Laos in the near future.

“We will research, review, urge and support you to invest in Laos as soon as possible and quickly,” Mr Sonexay Siphandone said.

According to Ms. Phimpha Keomixay, Consul General of Laos in Ho Chi Minh City, since 2015, Laos and Vietnam have signed bilateral and cross-border trade agreements between the two countries as well as the list of 0% tax-exempt goods.

“Vietnam currently ranks third among the investment countries in Laos. Up to now, many projects of Vietnamese companies have been put into operation with good efficiency, and many contributions have been made to socio-economic development. Association of Laos and recognized and appreciated by the two governments,” Ms. Phimpha noted Keomixay.

Mr. Tran Phuoc Anh, Director of Ho Chi Minh City’s Foreign Ministry, said Ho Chi Minh City has invested about USD 500 million in Laos with 44 projects. Investments of Laos through indirect forms (capital contribution, share purchase, purchase of contributed capital) in Ho Chi Minh City reached about USD 2 million as of November 2020. Bilateral trade turnover reached 20 million USD.