Vietnam’s investment flows into Laos face multiple challenges but promising outlook is still ahead, said an article of the Laos-Viet magazine on December 19.

PM Nguyen Xuan Phuc (R) and his Lao counterpart Thongloun Sisoulith
(Photo: baochinhphu.vn)

The magazine quoted a representative of the Laos-Vietnam cooperation committee at the recent conference of Laos’ planning and investment sector as saying that despite a slowdown in recent years, Vietnam remains Laos’ important partner in the future.

A number of Vietnam’s major projects in Laos, such as Nong Khang International Airport in Houaphanh, are expected to complete this year though financial problems have affected their progress.

At the conference, the Lao government emphasised the importance of relations with Vietnam while representatives of all governmental departments and agencies said to boost bilateral trade and investment, the two countries must further develop their comprehensive partnership, particularly in politics.

They also suggested the two sides pay more heed to education and healthcare.

Vietnam and Laos need to focus more on implementing agreements for cooperation in construction and transport, and accelerating development projects in hydropower, expressway, grid connection and cross-border electricity trade.

Laos wants Vietnam to provide more financial and technical support to improve the effectiveness of joint projects, notably strategic projects in Houaphanh, Xiangkhouang and Xaisomboun.

The Lao government also hopes Vietnam will offer over 1,200 scholarships to Lao students and governmental officials and provide Laos about 900 billion VND, or 40 million USD, in financial aid in the next year.