Vietnamese firms in northern Laos strengthen ties to weather difficulties

Noting certain difficulties facing them in northern Laos, the companies said this region, accounting for nearly half of the country’s area and two-fifths of the total population, features mountainous terrain, limited transport and communication infrastructure, scattered population, and weak purchasing power.

There are also some obstacles relating to legal regulations and authorities’ bureaucracy, they said, admitting their own weaknesses relevant to capital, technology, management capacity, quality of human resources, and businesses’ connectivity.

Vietnamese Consul General in Luang Prabang Nguyen Dang Hung said the conference was held to receive Vietnamese firms’ opinions so that the Consulate General can help them tackle hindrances and boost connectivity among enterprises, creating a prerequisite for the formation of a Vietnamese business association in northern Laos.

Participants in the event agreed to make preparations for the establishment of the Vietnam Business Association for Cooperation and Investment in Northern Laos.

Vietnam now ranks third among the countries and territories investing in Laos with over 400 projects worth some US$4.2 billion, according to the Association of Vietnamese Investors in Laos.