Vietnam extends support for investment sector in Laos

Vietnam has agreed to continue to assist the investment sector in Laos, especially through technical training for planning and investment officials.
An agreement on Vietnam’s support was signed on Monday by Laos’ Minister of Planning and Investment, Mr Khamjane Vongphosy and Vietnam’s Minister of Planning and Investment, Mr Nguyễn Chí Dũng.
Under the agreement, Vietnam will provide training on private investment and special economic zones, how to manage and allocate funds for public investment projects and foreign aid projects, collection of statistics on administration, and training in the Vietnamese language.

Vietnam will also continue to be a bridge for mobilisation and dissemination to attract more qualified investors from Vietnam.
Vietnam agreed to support the modernisation of the Lao planning and investment sector by updating and developing a state-of-the-art professional management programme to be used by the Vietnamese Ministry of Planning and Investment and to be available to the Lao Ministry of Planning and Investment later this year.
The agreement also provided for increased cooperation between the two Ministries of Planning and Investment in the field of planning and investment.
The ministries will promote cooperation between the two countries and promote investment management for businesses in each country, as well as play a central role in jointly encouraging enterprises that have entered into agreements to implement the set plans and resolve outstanding issues concerning investment projects that have been approved.
The two parties also agreed to consider a framework for cooperation between the research institutes of the two ministries.
Vietnam will assist with statistical training for Lao statistics officials and facilitate meetings between committees of the two ministries and departments.
The meeting also took place to mark Laos-Vietnam Friendship Year 2022 and to implement the agreement on cooperation between the two Ministries of Planning and Investment signed in June last year in Hanoi, and the direction of cooperation between the two ministries for 2022-2023.
The meeting was an important contribution to the deepening of the friendly relations that are the fruits of the special solidarity and comprehensive cooperation between Laos and Vietnam, and which continue to grow.

By Times Reporters
(Latest Update March 23, 2022)