Vietnamese investors keen on business in Laos

(KPL) Vietnamese investors in Laos convened their third conference in Vientiane on July 29 to study business opportunities and update the local government's policies on foreign investment.

Vietnamese Ambassador Nguyen Huy Quang briefed the participants of the mid-term meeting of the sub-committees of the Vietnam-Laos Cooperation Committee held in Laos 's Savannakhet province on July 19-20.

He said that Lao provinces of Savannakhet, Sekong, Champassak and Attapeu highly appreciated the effectiveness of Vietnamese investment projects in the localities.

Lao Deputy Minister of Planning and Investment and Vice President of the Laos-Vietnam Cooperation Sub-committee Thongmy Phomvisay reviewed the two countries' investment cooperation from 1989 up to now.

In the period, Vietnam poured 757.6 million USD in 142 investment projects in Laos , Thongmy Phomvisay said. Of the figure, 91 projects valued at nearly 300 million USD were fully invested by Vietnam .

The Lao Deputy Minister also informed that the Lao Government wouldprioritise the licensing of several Vietnamese projects in power, mining and rubber plantation in 2008. At the conference, initiated by the Vietnamese Embassy in Laos , Vietnamese businesses and Lao authorised agencies discussed obstacles for projects' implementation and bilateral trade.

They agreed to propose the two governments to adopt more policies to boost investment cooperation in future.