Vietnam keen on investing in Laos

July 01, 2011 | 09:32

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Vietnamese businesses are keen on expanding investment and cooperation with Laos , contributing to boosting cooperative ties between the two countries and developing Laos ’ socio-economy, said a Vietnamese diplomat.

Vietnamese Ambassador to Laos Ta Minh Chau made the remarks at a conference on Vietnam-Laos cooperation in planting industrial crops held in Vientiane on June 30.

The Ambassador said Laos boasts convenient geographic conditions for growing industrial crops. It is also a favourable destination for Vietnamese businesses to invest in.

Over the past years, the Lao government granted licences to a number of Vietnamese businesses to grow rubber trees and build processing mills in the country. They include the Vietnam-Laos Rubber Joint Stock Company, the Dak Lak Rubber Company, the Hoang Anh Gia Lai Group and the Dau Tieng Rubber Company.

Apart from rubber trees, Vietnamese enterprises are also interested in growing coffee, cassava, eucalyptus, cotton and sugarcane.

Speaking at the event, Lao Deputy Minister of Planning and Investment Thongmi Phomvisay and Vice Chairman of the National Agency for Land Management Ounh Lasoukanh praised Vietnamese investors, particularly businesses investing in planting industrial crops in Laos .

They introduced Laos ’ policies on land rent and took notes of Vietnamese enterprises’ opinions on their difficulties and challenges in Laos.