Congress brings Laos closer

November 19, 2011 | 13:00

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The Association of Vietnamese Investors in Laos (AVIL) on November 18 held its first congress in Hanoi.

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Association members elected standing committee members, with its chairman being BIDV board of directors chief Tran Bac Ha with the vice chairmen being Hoang Anh Gia Lai Group chairman Doan Nguyen Duc and Long Thanh Golf Investment and Business JSC CEO Le Van Kiem.

At the first congress, the association with 57 enterprises and individuals focused on its organisational model and supporting Vietnamese enterprises doing business in Laos.

Association member Tran Viet Tien said: “Through the association, Vietnamese firms operating in Laos will have more information on legal systems, mechanisms and policies to help business.”

Previously, there was a forum held by the Ministry of Planning and Investment’s Development Strategy Institute, which aimed to address Vietnam’s outbound investment issues outlined in Decree 78/2006/ND-CP enacted five years ago.

Vietnamese businesses have so far poured more than $3 billion in 203 projects in Laos, making Laos the biggest recipient of Vietnamese investment.

In the first three quarters of this year, Vietnamese businesses’ total registered investment capital in Laos reached $469 million, higher than 2010’s figure.

By Nguyen Chung

vir.com.vn

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