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
VNA
