Vietnam's trade fair in Laos (Photo: www.nhandan.com.vn)
Hanoi (VNA)🎀 – Vietnam and Laos have enjoyed thriving relations in economics, 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.
China’s Laoling city, in coordination with VINEXAD, hosted a series of events in Ho Chi Minh City from August 7-9 to seek trade and economic cooperation with Vietnam.
Vietnamese Ambassador to Cambodia Nguyen Minh Vu led a delegation to Mondulkiri, Ratanakiri, and Kratie provinces from August 5-8, aiming to deepen economic ties and support Vietnamese businesses operating in Cambodia’s northeastern region.
Party General Secretary To Lam’s upcoming state visit to the Republic of Korea (RoK) is expected to mark a new milestone in the bilateral relationship, creating fresh momentum for trade and investment cooperation between the two countries.
In the context of the growing global digital economy, digital transformation and the promotion of e-commerce are key drivers helping Vietnam boost integration, enhance competitiveness, and expand export markets, according to the Vietnam E-commerce and Digital Economy Agency
Tilapia is considered highly competitive in export markets thanks to its affordability, ease of processing, and appeal across both high-end and mass-market segments.
In the first seven months of the year, Phu Tho attracted an impressive 651.7 million USD in foreign direct investment, including 35 newly licensed projects totaling 119 million USD in registered capital and 45 existing projects with an additional capital of 533 million USD.
Under the agreements, VinEnergo will invest in, install, and operate 43 MWp of rooftop solar power capacity and 45 MWh of BESS capacity across the three plants.
Under a draft to amend and supplement the Government's Decree 125/2020/ND-CP on administrative sanctions for violations of tax and invoice regulations, the Ministry of Finance has proposed classifying the failure to issue invoices into five different levels. Infraction levels will correspond to fines of 1 million VND to 80 million VND, depending on the nature and number of invoicing violations.
A new airline developed and invested by Sun Group — has officially announced a strategic partnership with Amadeus IT Group (Amadeus), one of the world’s leading travel technology companies. This agreement not only lays the foundation for a modern digital infrastructure but also marks a pivotal step in SPA’s global expansion strategy, enabling the airline to access international distribution networks and reach customers worldwide.
Of the total, 107,700 were new firms, with combined registered capital of 928.4 trillion VND (35.4 billion USD), up 10.6% in number and 5.5% in capital compared with the same period last year.
Experts agree that a combination of technology, enforcement, education and cross-border cooperation is essential to protect copyrighted content in Vietnam’s growing digital ecosystem.
Poland is Vietnam’s largest export market in Central and Eastern Europe, with key staples including seafood, textiles, footwear, coffee, and cashew nuts.
Cashless payments are growing at an impressive rate, averaging 30–40% annually. Vietnam’s per capita cashless transaction volume now trails only China, with total value of 295.2 quadrillion VND (11.26 trillion USD), or 26 times of its GDP.
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.
Vietnam's trade fair in Laos (Photo: www.nhandan.com.vn)
