Investment projects help tighten Vietnam-Laos relations

12/09/2023 09:31
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KPL (KPL/VNA) – Over the past years, Laos has always attracted the most foreign direct investment (FDI) from Vietnamese enterprises and these projects have made important contribution to enhancing the two countries’ special relations, according to Lao officials.

(KPL/VNA) – Over the past years, Laos has always attracted the most foreign direct investment (FDI) from Vietnamese enterprises and these projects have made important contribution to enhancing the two countries’ special relations, according to Lao officials.

Lao Minister of Planning and Investment Khamjane Vongphosy, who is also Chairman of the Laos - Vietnam Cooperation Committee, said that in addition to geographical advantages, the main reason is because Laos and Vietnam have time-tested great friendship, special solidarity, and comprehensive cooperation.

Vietnamese businesses’ investment in not only urban delta areas but also remote areas with many difficulties in Laos is not only for pure profit purposes but also for good political relations between the two countries, he added.

Somboun Heuangvongxa, Vice Governor of Champasak province, said Vietnamese investors not only do well in business and tax obligations but also show that they are very responsible investors.

Besides well protecting the environment in accordance with the signed contracts, they are the best performers in social welfare work, recognised not only by all-level inspection agencies, but also senior leaders of Laos, he said.

Star Telecom (Unitel) - a subsidiary of the joint venture between Lao-Asia Telecom Company and Vietnam's Viettel Group – is a notable example, as 14 years after its operation launched, the company is the biggest telecom service provider and one of the largest budget contributors in Laos, and creating jobs for over 27,000 employees.

KPL

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