Over the last two years, Vietnamese enterprises invested USD3.8 billion into 222 projects in Laos, making Vietnam the third largest investor in that country.
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| President and General Secretary of Laos, Choummaly Sayasone meets heads of Vietnamese business |
Choummaly Sayasone, General Secretary of the Lao People's Revolutionary Party and President of the Lao People's Democratic Republic, met with the Association of Vietnamese Investors in Laos (AVIL), the Bank for Investment and Development of Vietnam (BIDV).
Tran Bac Ha, Chairman of both BIDV and AVIL said that the two-trade turnover has reached USD900 million, which is an increase of 22% from last year. The turnover is expected to increase to USD2 billion by 2015.
According to the Ministry of Planning and Investment, Vietnam has issued permits for 222 projects in Laos, with USD3.8 billion of registered capital. Laos has also granted permits for 415 projects involving Vietnamese firms, worth a total of USD5 billion.
In two years, AVIL has made a number contributions and boost the cooperation between two countries. Vietnamese enterprises gave USD35 million towards social and cultural programmes in Laos, such as the building of schools, hospitals and resettlement areas.
In the meeting, the President and General Secretary of Laos, Choummaly Sayasone, recognised the contributions and expressed hopes for even closer ties between the two nations.
