Vietnamese, Lao businesses enhance partnership

A cooperation deal has been signed between the Vietnam Business Association for Cooperation and Investment in Laos (BACI) and the Young Entrepreneurs Association of Laos (YEAL), expected to open up more partnership chances for the countries’ businesses.
TIN LIÊN QUAN
vietnamese lao businesses enhance partnership Vietnam, Lao commissions boost communication cooperation
vietnamese lao businesses enhance partnership PM extends New Year greetings to Lao, Cambodian counterparts

At the signing ceremony in Vientiane on May 14, BACI Chairman Nguyen The Hien said Vietnamese businesses are investing over 4.1 billion USD in more than 400 projects in Laos. Enterprises of both sides are working together to bring cooperation in various fields like mining, agriculture and services on par with the countries’ potential and advantages.

vietnamese lao businesses enhance partnership
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)

He underlined that bilateral cooperation outcomes in recent years have demonstrated efforts by Vietnamese and Lao businesses, governments, ministries, and sectors.

The BACI’s establishment was one of the practical activities of the Vietnamese Government and business community to improve their investment’s effectiveness in Laos, Hien said, noting that his association has become a true bridge for bilateral trade and investment ties.

He said the BACI-YEAL agreement will continue opening up many opportunities for investment cooperation, thus contributing to each country’s development.

For his part, YEAL Chairman Khamsen Sisavong said the YEAL-BACI cooperation is important to both at present and in the future. The two associations should also make use of opportunities to coordinate more closely to help solve youth unemployment in Laos.

He asked them to jointly organise discussions on partnership in developing export products and set up a cooperation board to boost substantive ties. He also called on Vietnamese firms working in the finance-banking sector of Laos to create favourable conditions for local companies to access soft loans.

At the meeting, the countries’ businesses also inked five cooperation documents.

Founded in 2010, the BACI now has 100 member companies. Meanwhile, there are more than 800 firms that are members of the YEAL, which was set up in 2002.

vietnamese lao businesses enhance partnership

Leader Nguyen Phu Trong hosts Lao top legislator

Party General Secretary and President Nguyen Phu Trong hosted a reception for Chairwoman of the Lao National Assembly Pany Yathotou in Hanoi on March 5.

vietnamese lao businesses enhance partnership

Party General Secretary, President meets former leader of Laos

General Secretary of the Communist Party of Vietnam Central Committee and President Nguyen Phu Trong met with former General Secretary of the Lao People’s Revolutionary ...

vietnamese lao businesses enhance partnership

Top Vietnamese leader seeks stronger relations with Laos

General Secretary of the Communist Party of Vietnam (CPV) Central Committee and President Nguyen Phu Trong has suggested Vietnam and Laos to further promote their ...

(Source: VNA)