The Vietnamese Embassy in Laos, in cooperation with the Association of Vietnamese Investors in Laos (AVIL) and relevant authorities, held a conference in Laos in Vientiane on September 15 to seek to improve Vietnam’s investment projects in Laos.

Over 100 Vietnamese officials and business representatives participated in the event which came at a time when Vietnam and Laos’ economies face a number of challenges due to regional and global uncertainties.

Thanks to the implementation of the high-level agreements between the two Parties and States, Vietnam remains a top investor in Laos with more than 400 projects and a total investment capital of over 5 billion USD. Since taking up operations, many projects have actively contributed to Laos’ economy and created thousands of jobs for local residents.

Minister Counsellor Tran Manh Cuong highlighted the achievements and shortcomings, and proposed measures to improve Vietnam’s investments in Laos in the future.

Participants debated measures to speed up the making of the Government ‘s investment strategy in Laos by 2020, and to reduce the time spent on administrative processes and simplify procedures in order to create favorable conditions for businesses and provide them with better access to credit.

Inefficient projects will be discontinued, and State management of enterprises will be increased, they stressed.

Vietnamese Ambassador to Laos Nguyen Manh Hung highly valued the ideas contributed by businesses and vowed to pass them on to the 37 th meeting of the Vietnam-Laos intergovernmental committee in Laos at the end of 2014.-VNA