Experts seek to bolster Lao-Viet economic cooperation
Experts seek to bolster Lao-Viet economic cooperation
A second Laos-Vietnam seminar was held in Vientiane on Friday as the neighbouring nations seek ways to further boost economic cooperation.
Minister of Planning Invectment Somdy Duangdy delivered a speech to open the one day seminar, which gave researchers and policy-makers the chance to voice their opinions on how best to enhance economic cooperation between the two nations .
Ten speakers from Laos and Vietnam made presentations at the seminar, which was a collaboration between the Lao Ministry of Planning and Investment, National University of Laos, and the National Economic University of Vietnam.
The seminar focused on potential sectors which the two countries will prioritise as part of efforts to boost investment and economic cooperation.
Nearly 100 researchers and policy-makers from Laos and Vietnam attended the event, where they made constructive recommendations to those making presentations.
Speaking at the opening ceremony, Mr Somdy said the seminar was part of activities to mark the 50th anniversary of Lao-Vietnamese diplomatic relations and the 35th anniversary of the Laos-Vietnam Friendship and Cooperation Treaty.
The main purpose of the event was to enable Lao and Vietnamese experts to exchange their opinions on trade and investment and future opportunities, and to identify sectors with potential, he said.
Mr Somdy added that attendees were welcome to make recommendations on how the two countries might increase cooperation amid international integration.
Another aim of the seminar was for Lao and Vietnamese researchers to hold discussions to strengthen their solidarity, and to further their knowledge.
Laos and Vietnam have enjoyed close political cooperation over the past decades. However, they are facing challenges in boosting economic cooperation, an important factor in developing even closer special relations between the two countries amid international integration.
The two nations have set a target for bilateral trade to reach US$1 billion this year and US$2 billion in 2015. In the January-June period, two-way trade rose 33.1 percent to hit US$465.7 million.
According to a report from the Lao Ministry of Planning and Investment in March, the Lao government had authorised Vietnamese enterprises to operate 224 investment projects worth a total of US$3.57 billion.
Most of these investments are in mining, electricity, agriculture and services. The value of Vietnamese investment in Laos makes the country one of the top three foreign direct investors, alongside China and Thailand
vientiane times
