Vietnam and Laos Airlines to Set up Joint venture

3:26:32 PM | 7/8/2005

A source from the Vietnamese Governmental Office said on February 22, 2005, that the Prime Minister has recently assigned Vietnam Airlines to co-operate with relevant agencies to set up a working group for official exchange with Laos Airlines to submit the Lao Government commitments on priority policies for a project on setting up a joint venture between Vietnam and Laos Airlines.

Accordingly, Laos Airlines can maintain its strength and the joint venture is expected to be profitable. Relevant ministries and agencies in Vietnam will contribute their comments to the project, proposing mechanisms and policies to the Vietnamese Government to provide support for the joint venture in accordance with the Vietnam-Laos special friendship and co-operation relations. The Ministry of Finance will send its cadre to join the working group from its early period to develop financial plans to help the joint venture become profitable. The Ministry of Planning and Investment will guide Vietnam Airlines to develop the project, summarising inputs and comments of the ministries and agencies from Vietnam and Laos and submit it to the Government in the first quarter of 2005.