Vietnamese businesses have showed good performance in Laos, contributing to boosting the country’s economy, especially speeding up its poverty reduction process.

At a ceremony to mark Vietnam Entrepreneurs’ Day (October 13) held in Vientiane on October 14 by the Vietnamese Business Association in Laos, General Director of the Lao Tax Department Sitthisone Thepphasy spoke highly of the Vietnamese businesses’ effective investment in Laos and expressed his thanks for their contributions to the country’s economic development and social welfare activities.

Vietnamese businesses have invested in 435 businesses in Laos with a total capital of 5.2 billion USD.

Speaking at the event, the Vietnamese Businesses association’s President Nguyen Duc Moc said that Vietnamese entrepreneurs always follow strictly Laos’ law and support each other.

Apart from contributing to the Lao State budget each year, they have raised funds to help the Lao people in difficulty, he added.

On the occasion, Vietnamese businesses and participants donated more than 150 million LAK (20,000 USD) to support needy people.-VNA