Investment projects help tighten Vietnam-Laos relations
Over the past years, Laos has always attracted the most foreign direct investment (FDI) from Vietnamese enterprises and these projects have made important contribution to enhancing the two countries’ special relations, according to Lao officials.
Vientiane (VNA) – Over the past years, Laos has always attractedthe most foreign direct investment (FDI) from Vietnamese enterprises and theseprojects have made important contribution to enhancing the two countries’ specialrelations, according to Lao officials.
Lao Minister of Planning and Investment Khamjane Vongphosy, whois also Chairman of the Laos - Vietnam Cooperation Committee, said that inaddition to geographical advantages, the main reason is because Laos andVietnam have time-tested great friendship, special solidarity, and comprehensivecooperation.
Vietnamese businesses’ investment in not only urban deltaareas but also remote areas with many difficulties in Laos is not only forpure profit purposes but also for good political relations between the twocountries, he added.
Somboun Heuangvongxa, Vice Governor of Champasak province,said Vietnamese investors not only do well in business and tax obligations butalso show that they are very responsible investors.
Besides well protecting the environment in accordance withthe signed contracts, they are the best performers in social welfare work,recognised not only by all-level inspection agencies, but also senior leadersof Laos, he said.
Star Telecom (Unitel) - a subsidiary of the joint venturebetween Lao-Asia Telecom Company and Vietnam's Viettel Group – is a notableexample, as 14 years after its operation launched, the company is the biggesttelecom service provider and one of the largest budget contributors in Laos,and creating jobs for over 27,000 employees./.
Major media outlets of Laos have highlighted the great friendship, special solidarity and comprehensive partnership between Vietnam and Laos on the occasion of the 61st anniversary of diplomatic relations between the two countries.
The Laos-Vietnam ties have been expanding across the board and are now at the best time in history, said Lao Minister of Planning and Investment Khamjane Vongphosy.
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A draft resolution on piloting a digital asset and cryptocurrency market is being developed, aiming to create a broad-enough regulatory sandbox that enables investor participation and provides practical grounds for policy refinement in areas such as risk management and anti-money laundering.
Viettel was ranked third for overall mobile performance with a score of 82.56 just behind UEA’s e& (88.05) and Quatar’s Ooredoo (87.05) and ahead of Singapore’s Singtel (82.53). Vinaphone took second in 5G speed with a score of 78.11, trailing only behind e&.
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Vietnam has so far attracted 43,346 valid FDI projects with a total registered capital of 517.14 billion USD. The accumulated disbursed capital is estimated at nearly 331.46 billion USD, accounting for 64.6% of the total registered capital.
Workers at Viet Lao rubber company (Photo: VNA) 
