Int'l Cooperation

Last updated: Monday, April 22, 2019


Vietnam, Laos Intensifying Investment Cooperation

Posted: Tuesday, August 15, 2017

Vietnam currently has 408 investment projects in Laos with a total registered investment capital of US$3.7 billion, statistics show.

Vietnam and Laos recently hosted the Conference on Professional Exchanges between Vietnam-Laos Planning and Investment Sectors 2017 took place in Da Nang City to further boost bilateral relations between the governments of the two countries. 2017 also marked a milestone year of Vietnam-Laos solidarity aimed to deepen the special friendship, solidarity and comprehensive cooperation between the two neighbours.

Mr Nguyen Chi Dung, Minister of Planning and Investment of Vietnam, said, Vietnamese enterprises are continuing to invest and make a positive contribution to Laos’ socio-economic development. They have to date invested 408 projects worth US$3.7 billion in Laos. In addition, the Government of Vietnam still offers a grant of VND850 billion (US$30 million) to Laos. According to experts, aid projects have been implemented with ensured quality and progress. In addition, Vietnam also supports Laos to build the House of the National Assembly which is estimated to cost US$100 million while effectively carrying out the Protocol for Cooperation in Official Training in the 2017 - 2021 period.

In addition, in the new Bilateral Trade Agreement and the Border Trade Agreement, the two sides have actively coordinated in executing specific terms and conditions and made progress in traffic connectivity. Training cooperation has been more and more effective and training quality has been improved with more than 14,000 Lao students studying in Vietnam, of which more than 3,400 are under the agreements.

Besides, the two ministries’ leaders performed a unified review of Vietnam's FDI statistics in Laos; exchanged professional works, especially relating to planning, monitoring, assessment, statistic, management and tracking of ODA-funded projects; effectively implemented the working office construction project for Laos-Vietnam Cooperation Committee as well as aids-financed projects.

The Ministry of Planning and Investment of Vietnam and the Ministry of Planning and Investment of Laos agreed on a number of contents for the 2017 - 2018 period. In particular, they continued to strengthen their comprehensive cooperation in planning and investment fields; closely coordinated in organising investment promotion activities in each country; and cleared obstacles and backlogs for licensed investment projects. The Vietnamese Ministry of Planning and Investment will continue to assist Laos to train and retrain planning and investment skills for the latter’s officials, with focuses on appraising and supervising investment, and inspecting small and medium enterprises.

Furthermore, to meet the demand for high quality human resources in the investment planning sector in Laos, at the request of the Ministry of Planning and Investment of Laos, the Ministry of Planning and Investment of Vietnam will continue to despatch its experts and trainers to train Laos planning and investment officials from the grassroots level; exchange and inform each other of professional publications, information materials, documents on administrative management, and planning programmes; and translated legal planning and investment documents into Vietnamese and Laotian.

Minister Nguyen Chi Dung also said that Vietnam now has the Institute of Policy and Development under the Ministry of Planning and Investment, which annually enrols students for various professions. Therefore, he suggested that if Laos’ Ministry of Planning and Investment needs planning staffs for the future or wants to train them from the start of their undergraduate studies, it will necessarily ask the Vietnamese Ministry of Education and Training for this. We will consider methods and means to have scholarships from the Institute of Policy and Development of the Ministry of Planning and Investment, and train investment and planning students in the best and most methodological manner,” he stressed.

At the conference, Mr Souphanh Keomixay, Minister of Planning and Investment of Laos and Chairman of Laos-Vietnam Cooperation Committee, said that the Lao Government acknowledges and appreciates the ultimate assistance of the Party and the Government of Vietnam for training officials, supporting economic development and infrastructure construction. These are the nucleus of nurturing and developing the good bilateral relationship in the coming time.

Anh Phuong

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