Laos Wants to Boost Vietnam Border Trade

Laos is seeking supports from the government of Vietnam to build key roads and wants to launch “One-Door” customs procedures in the cross border areas to boost bilateral trade, visiting Laotian Transport and Post Minister Sommad Phol Sena stated during his talks with Deputy Prime Minister Nguyen Sinh Hung in Hanoi on September 10.

 

“Laotian transport sector and Vietnamese counterpart will further boost bilateral cooperation in the future,” Sommad Phol Sena reaffirmed.

 

Laos hopes the government of Vietnam to help build roads of Muong Khoa-Tay Trang 2E and 6A, the official said.

 

Hung, for his part, reiterated that this is great chance for transport sectors of the two countries to share experience and boost capacity and hailed the “One-Door” procedures at border gates proposed by the guest.

 

Vietnam and Laos agree to boost bilateral trade to $1 billion in 2010 and $2 billion by 2015.

 

More than 100 Vietnamese and Lao businesses gathered in Vientiane in late August of this year to discuss ways to boost investment ties.

 

At the gathering, both Lao Minister of Industry and Trade Nam Vinhaket and Vietnamese Deputy Minister of Industry and Trade Nguyen Thanh Bien affirmed the two governments’ support and investment incentives for businesses from the two neighbors.

 

To date, Vietnamese businesses have invested $516 million into 106 projects in Laos, becoming the third largest investor among over 30 foreign investors in the country with the largest project the hydropower plant Sakaman 3 capitalized at $273 million, the new source said. (Vietnam & World Economy)