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Vietnam keen to boost investment in Laos

The Association of Vietnamese Investors in Laos (AVIL) aims to invest a total of 5.8 billion USD in the country by 2015, said the association at its meeting with Laos-based Vietnamese investors in Vientiane on September 24.
The Association of Vietnamese Investors in Laos (AVIL) aims to invest atotal of 5.8 billion USD in the country by 2015, said the association atits meeting with Laos-based Vietnamese investors in Vientiane onSeptember 24.

Vietnam is the second largest investor inLaos, with 413 projects underway and a total investment capital ofaround 5 billion USD, according to the organisers.

Theinvestment projects have actively contributed to Laos’ economy, expectedto generate 150 million USD in 2014 alone, and provide jobs forapproximately 30,000 local residents.

Duringthe first eight months of 2014, bilateral trade between Laos and Vietnamtotalled 884 million USD, up by 41.6 percent compared to the sameperiod last year. The figure is expected to reach over 1 billion USD bythe end of 2014 and 1.5-1.7 billion USD by 2015.

The number of Lao tourists to Vietnam increased by 20 percent to a total of 101,770 tourists.

Speaking at the meeting, Vuong Dinh Hue, Head of the Party CentralCommittee’s Economic Commission praised efforts made by Vietnamesebusinesses in Laos, expressing hope that they will continue contributingto developing the host country’s economy, thus fostering the specialrelationship between Vietnam and Laos.-VNA

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