Vientiane:A Vietnam-Laos agricultural investment promotion conference has been anticipated to transform economic, trade, and investment cooperation plans into action, thus enhancing the friendship and strategic cooperation between the two nations. The event was co-hosted by the Vietnamese Embassy in Laos, the Lao Ministry of Agriculture and Environment, and other key organizations.
According to Lao News Agency, the conference followed Prime Minister Le Minh Hung's official visit to Laos and aimed to implement high-level cooperation pledges. It was attended by over 250 delegates, including leaders from both countries' legislatures, ministries, and agencies, as well as officials from 11 Lao provinces and prominent companies.
Currently, 208 Vietnamese companies are investing in agriculture, forestry, and livestock in Laos with a registered capital of approximately 1.4 billion USD. Both countries are working to enhance transport and energy infrastructure, aspiring to increase bilateral trade to 10 billion USD by 2030 and attract more investments.
Pham Hai Duong, Deputy General Director of the Vietnam Rubber Group, highlighted the benefits of expanding investments in Laos, noting the success of their rubber planting projects over the past two decades. The VRG aims to secure 120,000-150,000 hectares for industrial crops in Laos by 2030 and seeks expedited investment procedures from Lao authorities.
Somsaad Ounsida, Chairman of the Khammuon provincial Administration Committee, emphasized the impact of Vietnamese investments on local economic restructuring, job creation, and income improvement. He invited further Vietnamese investment in agriculture, energy, minerals, and tourism.
Khamphoui Sibounheuang, Vice Chairman of the Savannakhet provincial Administration Committee, noted that investment in his province has not yet matched its potential. With over 651,000 hectares of agricultural land, Savannakhet is on the East-West Economic Corridor, offering significant opportunities. The province has prepared a five-year strategy with priority areas for investment and welcomes Vietnamese companies to engage in projects such as agricultural processing and industrial development.