A cooperation deal has been signed between the Vietnam Business Association for Cooperation and Investment in Laos (BACI) and the Young Entrepreneurs Association of Laos (YEAL), expected to open up more partnership chances for the countries’ businesses.
Chairman of the Vietnam Business Association for Cooperation and Investment in Laos Nguyen The Hien (R) and Chairman of the Young Entrepreneurs Association of Laos Khamsen Sisavong sign the coopeation deal in Vientiane on May 14 (Photo: VNA)
Vientiane (VNA) – A cooperation deal has been signedbetween the Vietnam Business Association for Cooperation and Investment in Laos(BACI) and the Young Entrepreneurs Association of Laos (YEAL), expected to openup more partnership chances for the countries’ businesses.
At the signing ceremony in Vientiane on May 14,BACI Chairman Nguyen The Hien said Vietnamese businesses are investing over 4.1billion USD in more than 400 projects in Laos. Enterprises of both sides areworking together to bring cooperation in various fields like mining,agriculture and services on par with the countries’ potential and advantages.
He underlined that bilateral cooperationoutcomes in recent years have demonstrated efforts by Vietnamese and Laobusinesses, governments, ministries, and sectors.
The BACI’s establishment was one of thepractical activities of the Vietnamese Government and business community toimprove their investment’s effectiveness in Laos, Hien said, noting that hisassociation has become a true bridge for bilateral trade and investment ties.
He said the BACI-YEAL agreement will continueopening up many opportunities for investment cooperation, thus contributing toeach country’s development.
For his part, YEAL Chairman Khamsen Sisavongsaid the YEAL-BACI cooperation is important to both at present and in thefuture. The two associations should also make use of opportunities tocoordinate more closely to help solve youth unemployment in Laos.
He asked them to jointly organise discussions onpartnership in developing export products and set up a cooperation board toboost substantive ties. He also called on Vietnamese firms working in thefinance-banking sector of Laos to create favourable conditions for localcompanies to access soft loans.
At the meeting, the countries’ businesses alsoinked five cooperation documents.
Founded in 2010, the BACI now has 100 membercompanies. Meanwhile, there are more than 800 firms that are members of theYEAL, which was set up in 2002.-VNA
Vietnamese Minister of Labour, Invalids, and Social Affairs Dao Ngoc Dung and Lao Minister of Labour and Social Welfare Khampheng Saysomepheng co-chaired the sixth Vietnam-Laos Ministerial Conference on Labour and Social Welfare in Vientiane, Laos on March 28.
People-to-people diplomacy has contributed to tightening solidarity between the two countries, heard a conference in the northern province of Thai Nguyen on April 9.
Vietnam and Laos have agreed to boost cooperation in ethnic affairs, including training, building and implementing related policies, and increasing cultural exchanges between ethnic groups along the shared border line.
The comprehensive cooperation between the National Assemblies of Vietnam and Laos has developed fruitfully in the recent past, said Vice Chairwoman of the Vietnamese NA Tong Thi Phong.
Vietnam’s TE-FOOD company on May 13 signed a memorandum of understanding on cooperation with the Lao Ministry of Agriculture and Forestry’s Department of Livestock and Fisheries to build a herd management and information system for urgent epidemic prevention through smart phones, amidst the spreading African swine fever (ASF) in the region.
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.
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&.
PM Chinh proposed MUFG work closely with the Ministry of Finance to improve legal frameworks and support the establishment and operation of the international financial centre in Da Nang and Ho Chi Minh City.
The Prime Minister emphasised the significance of maintaining macroeconomic stability, controlling inflation, promoting growth, and improving the harmony between monetary and fiscal policies.
Petrovietnam will step up the development of new products and the expansion of international markets to reduce reliance on the domestic market. It also plans to optimise capital use, manage cash flow and costs, streamline operations, and enhance workforce quality to achieve its 2025 goals.
Chairman of the Vietnam Business Association for Cooperation and Investment in Laos Nguyen The Hien (R) and Chairman of the Young Entrepreneurs Association of Laos Khamsen Sisavong sign the coopeation deal in Vientiane on May 14 (Photo: VNA) 
