Deputy Prime Minister Nguyen Xuan Phuc and his Lao counterpart Somsavath Lengsavad co-chaired the Vietnam-Laos Economic and Investment Cooperation Conference in central Da Nang city on July 7.

Lao Deputy PM Somsavath Lengsavad highlighted cooperation between the two Ministries of Planning and Investment, which, he said, creates favourable conditions for their leaders and cadres learn from each other.

He proposed the two ministries further lift up bilateral comprehensive cooperation for sustainable development.

Addressing the conference, Deputy PM Phuc affirmed the fine development of the Vietnam-Laos cooperative relations, particularly in economics, trade, investment and tourism.

Both sides have signed a number of cooperation documents and established necessary coordination mechanisms in line with the demand for the development of the two countries’ special friendship, he said.

Deputy PM Phuc proposed the two ministries act as advisor to their governments in assisting Vietnamese and Lao enterprises in business and investment development, maintain dialogue mechanism to remove difficulties, promote business and investment activities, and speed up the completion of trade and investment management policies and mechanisms in the two countries’ priority fields.

He suggested the Lao Government facilitate Vietnamese enterprises’ investment and business activities in Laos and affirmed Vietnam ’s consistent policy of developing the traditional friendship, special solidarity, comprehensive cooperation and stability with Laos and joining Laos to elevate the two countries’ ties to a new height for the interests and prosperity of the two peoples.

Statistics released by the Vietnamese Ministry of Planning and Investment showed that by the end of June, Vietnam had operated 214 investment projects in Laos worth more than 3.45 billion USD in total. Laos ranks first among 60 countries and territories with investment by Vietnamese enterprises and Vietnam ranks third among 52 countries and territories with direct investment in Laos./.