The association's congress takes place on January 8 (Photo: VNA)

Vientiane (VNA) – Vietnamese businesses have performed well in Laos and contributed to local economic growth over the last five years despite the lingering impact of the global economic crisis, said a report delivered at a congress of the Vietnam Business Association in Laos.

The second congress in Vientiane on January 8, was attended by almost 100 representatives of Vietnamese companies doing business in Laos, Vietnamese Deputy Foreign Minister Vu Hong Nam – Chairman of the State Commission on Overseas Vietnamese Affairs, and Vietnamese Ambassador to Laos Nguyen Manh Hung.

In his speech, Laos Deputy Prime Minister Somsavad Lengsavath, who chairs the Laos – Vietnam cooperation sub-committee, said his country’s over 7 percent economic growth in recent years was largely contributed by Vietnamese enterprises.

He thanked the Vietnamese Government and companies for supporting Laos, adding that Vietnamese firms have also helped reinforce the special solidarity between the two countries.

As the two neighbours have become members of the recently-founded ASEAN Economic Community, their enterprises should enhance cooperation to optimise their advantages, minimise unwanted impacts, and fuel their countries’ economic growth, he added.

The official asked the association to continue acting as a bridge tightening the two business circles’ partnership and boosting their competitiveness.

At the congress, Deputy Foreign Minister Nam and Ambassador Hung said they hope the association will promote its performance in the 2016 – 2020 tenure to expand the Laos-based companies’ development, thus helping with the intensification of the countries’ special solidarity and all-faceted cooperation.-VNA