Vietnam's trade fair in Laos (Photo: www.nhandan.com.vn)
Hanoi (VNA) – Vietnam and Laos have enjoyed thriving relatiওons in economi𓃲cs, trade and investment with annual average growth of 20 percent over the past five years.
At a recent dialogue with Vietnamese businesses in Vientiane, Prime Minister Thongloun Sisoulith spoke highly of their investments, which are contributing to Laos’ socio-economic development.
He pledged to create the best conditions for Vietnamese investors to operate in the country.
Vietnam is the third largest investor of Laos, while Laos attracts the most investment from Vietnam among 64 countries and territories where Vietnamese businesses are investing in.
According to the Vietnam Business Association in Laos, which was established in 2010 with over 300 members at present, Vietnam’s direct investment in Laos constantly increased from 2011-2015 in the number of projects and registered capital.
As of September, Vietnam had 266 licensed investment projects worth 5.1 billion USD in Laos, 1.3 times the number of projects and 1.26 times the total investment capital in 2011.
While operating in Laos, Vietnamese enterprises have abided by Lao State law, paid tax to the Lao State budget and generated jobs for tens of thousands of locals.
Vietnamese investment projects have contributed to increasing the Lao Government’s budget collection by 240-260 million USD per year, while creating 35,000 jobs. The figures are expected to reach 350-400 million USD and 45,000, respectively, in 2017.
The signing of the Vietnam – Laos border trade agreement last June served as an important legal tool to drive two-way trade forward.
The Lao Prime Minister called on Vietnamese businesses to invest in Laos to bring mutual benefits.
The birth of the ASEAN Community in 2015 along with the development of the sub-Mekong regional transport corridors and economic connectivity has opened up new horizons for the two countries’🌳 cooperation in investment.-VNA
The Communist Party of Vietnam (CPV) will continue working closely with the Lao People’s Revolutionary Party (LPRP) to increase exchanging theoretical information and Party building experience.
Le Hien Van, deputy head of the General Political Department of the People's Army, met with Bunlieng Sengphachian, head of the Lao respective body’s inner security department, in Hanoi on November 8.
The Vietnamese and Lao governments should deliberate accelerating joint investment projects in the coming time, including the Hanoi-Vientiane expressway and the Hon La – Khammouan oil pipeline.
The event aimed to update businesses on new regulations and compliance requirements regarding US tax, trade, and customs policies, while offering practical solutions to facilitate exports amid shifting trade dynamics.
The festival marks a significant milestone in promoting the brand, value, and legacy of traditional fish sauce - a product deeply rooted in the island’s identity and history spanning over 200 years.
According to Mastercard data, Vietnam has recorded a remarkable 92% compound annual growth rate (CAGR) in contactless transaction volume from Q4 2022 to Q4 2024.
Tuan expressed his confidence that LH, with its expertise and experience, would swiftly implement the urban area project, contributing to a modern urban landscape for the province.
With its strategic location, abundant workforce, and modern infrastructure, Vietnam holds significant potential to become a leading centre for power and electronics production in the region and the world.
The renewable energy workforce training and development centre, invested by Germany's GEO Group, is expected to be a cornerstone in shaping Binh Dinh as a renewable energy and innovation hub in central Vietnam, meeting the growing demand for skilled technical personnel in offshore wind, solar farms, and green hydrogen projects.
A notable trend is the shift toward satellite regions. With land scarcity and soaring prices in Ho Chi Minh City and Hanoi, investors are eyeing provinces like Hung Yen, Bac Ninh, and Hai Phong, which are benefiting from improved technical infrastructure and transport connectivity.
To further strengthen private-sector innovation, Bac Ninh plans to accelerate administrative reforms, build a digital, service-oriented government, and develop an integrated innovation ecosystem that connects businesses with domestic and international institutions, universities, and experts.
The participation of H&M, one of the world's largest fashion corporations, in Vietnam International Sourcing 2025 in Ho Chi Minh City in early September is considered a special highlight, opening up many cooperation opportunities for Vietnamese businesses in the fashion, textiles and sustainable supply chains.
This latest order builds on a previous agreement signed at the Singapore Airshow last year for 40 engines, bringing the total number of Trent 7000 engines ordered by the airline to 80.
Minister of Industry and Trade Nguyen Hong Dien acknowledged that despite concerted efforts by ministries and local authorities in combating fake and substandard goods, the situation remains highly complicated, attributing the persistent challenges to high profits luring numerous participants, increasingly sophisticated violations, limited resources within enforcement agencies.
The group also placed among the Top 5 energy companies in Southeast Asia and secured the top spot among the largest Vietnamese enterprises featured on the list.
The zone will cover 1,881 ha, comprising functional areas for production, logistics, trade and services, digital technology industry, information technology, and innovation.
Dung underlined several key objectives, including a comprehensive review of the legal framework governing SOEs, and called for updates that reflect international standards and support modern, transparent governance.
While the US market has become more difficult to access due to new tax policies, Australia could play the role of a trade cushion, helping to reduce shocks and maintain export momentum for Vietnam's shrimp industry.
Vietnam's trade fair in Laos (Photo: www.nhandan.com.vn)
