HCM City leader highlights support for Lao investors

During a reception in the city for Lao Deputy Prime Minister Sonexay Siphandone on December 13, Nen spoke highly of cooperation programmes between Ho Chi Minh City and Lao localities, especially those reached at the Vietnam-Laos trade and investment promotion forum co-hosted by the municipal People’s Committee and Lao Consulate General in Ho Chi Minh City in the morning the same day.

He stressed that the signing of cooperation MoUs and economic contracts at the forum is the first step towards new and more specific cooperation plans expected by the two Prime Ministers.

Siphandone, for his part, believed that ties between the two nations will grow closer during 2022 Vietnam-Laos Solidarity and Friendship Year and subsequent years.

He hailed the signing of 17 MoUs and one economic contract on agriculture, hydropower development and tourism at the forum, which he said shows that there remains huge room for bilateral trade and investment cooperation.

The guest pledged that the Lao Government and authorities will create favourable conditions for Vietnamese investors and businesses to operate effectively. He wished to welcome more Vietnamese firms to Laos.

Vietnam is now the third largest investor out of 53 countries and territories investing in Laos. Vietnamese investment has reached all regions of Laos and many fields such as finance-banking, telecommunications, services, agro-forestry.

Laos is currently the largest recipient of Vietnam’s outbound investment capital with 238 projects valued at 5.34 billion USD. Of which, 44 projects worth nearly 496 million USD are from Ho Chi Minh City.