Vietnamese Ambassador Nguyen Ba Hung speaks at the event. (Photo: VNA)

Addressing the event, Vietnamese Ambassador Nguyen Ba Hung said many projects invested by Vietnamese enterprises in Laos are operating effectively, helping create jobs and improve incomes for thousands of local workers, as well as greatly contributing to the Lao state budget, especially in the fields of telecommunications, banking, and agriculture-forestry.

Vietnam’s investment in Laos increased by 49% in the first 11 months of 2022, and is forecasted to expand by 57.7% in the whole year, he said.

Vietnamese Deputy Minister of Industry and Trade Tran Quoc Phuong said he hopes relevant agencies of Laos will continue to support and help remove difficulties and obstacles facing Vietnamese businesses investing in Laos.

He urged Vietnamese investors and businesses to speed up the implementation of investment projects in Laos, strictly abide by the laws of the two countries, and pay attention to protecting the environment and social security activities in the host country

At the forum, representatives from Vietnamese enterprises reported on their situation and proposed solutions to outstanding difficulties in the fields of energy, minerals, agriculture, and services.

In his speech, Lao Minister of Planning and Investment Khamjane Vongphosy spoke highly of Vietnamese businesses’ contributions to his country, stressing that those are not only important to the socio-economic development of Laos, but also help promote the good tradition between the two nations.

Opinions collected at the forum will be submitted to the Lao government in the near future, he said.

The forum is part of activities to prepare for the 45th meeting of the Vietnam - Laos Intergovernmental Committee on Bilateral Cooperation and the Vietnam-Laos Investment Cooperation Conference that are scheduled to take place in Vientiane late this month.