Secretary of the Ho Chi Minh City Party Committee Nguyen Van Nen (R) and Lao Deputy Prime Minister Sonexay Siphandone (Photo: SGGP)
During a reception in the city for Lao Deputy Prime Minister Sonexay Siphandone on December 13, Nen spoke highly of the cooperation program between Ho Chi Minh City and Lao localities, especially those reached the Vietnam-Laos trade and investment promotion forum co-hosted by the municipal People’s Committee and Lao Consulate General in Ho Chi Minh City in the morning the same day.
He stressed that the signing of cooperation MoUs and economic contracts at the forum is the first step towards new and more specific cooperation plans expected by the two Prime Ministers.
Secretary of the Ho Chi Minh City Party Committee Nguyen Van Nen (R) offers a present to Lao Deputy Prime Minister Sonexay Siphandone (Photo: SGGP)
Siphandone, for his part, believed that ties between the two nations will grow closer during the 2022 Vietnam-Laos Solidarity and Friendship Year and subsequent years.
He hailed the signing of 17 MoUs and one economic contract on agriculture, hydropower development and tourism at the forum, which he said shows that there remains huge room for bilateral trade and investment cooperation.
The guest pledged that the Lao Government and authorities will create favorable conditions for Vietnamese investors and businesses to operate effectively. He wished to welcome more Vietnamese firms to Laos.
Vietnam is now the third largest investor out of 53 countries and territories investing in Laos. Vietnamese investment has reached all regions of Laos and many fields such as finance-banking, telecommunications, services, and agro-forestry.
Laos is currently the largest recipient of Vietnam’s outbound investment capital with 238 projects valued at US$5.34 billion. Of which, 44 projects worth nearly US$496 million are from HCMC.
