The Vietnamese Embassy and the Vietnam Business Association for Cooperation and Investment in Laos held a seminar in Vientiane on October 11 to discuss Laos’ economic prospects and impacts on Vietnamese enterprises in the country.

Attending the event were Vietnamese Ambassador to Laos Nguyen Ba Hung; Lao Deputy Minister of Planning and Investment and Vice Chairman of the Laos – Vietnam Cooperation Committee Khamphoi Keokinnaly; Chairman of the Lao National Assembly’s Committee on Planning, Finance and Auditing and Chairman of the Laos – Vietnam Friendship Association Central Committee Vilayvong Bouddakham; and former Director of the Lao National Economic Research Institute Bouasone Bouphavanh, among others.

Speakers gave initial forecasts about Laos’ economic prospects and its impacts on enterprises in Laos, including those from Vietnam.

They answered questions regarding land use planning, legal documents and export-import procedures, among others.

Speakers from Lao ministries and agencies vowed to do their best to advise the Lao government to provide all possible support to Vietnamese firms in the country, thus contributing to fostering the great friendship and comprehensive partnership between the two nations.

Vietnamese enterprises contribute an estimated amount of nearly 70 million USD to Laos’ social welfares each year, focusing on health care, education, infrastructure and housing for the poor in remote and mountainous regions.

Since 1989, Vietnam has carried out 413 projects worth nearly 4.1 billion USD in Laos, ranking third among 54 countries and territories investing in the country, according to data from the Lao Ministry of Planning and Investment.