Workers at the Viet Lao rubber company (Photo: VNA)

In recent years, Laos has always attracted the majority of foreign direct investment (FDI) from Vietnamese companies and these projects have made an important contribution to strengthening the special relations between the two countries, according to Lao officials.

Lao Minister of Planning and Investment Khamjane Vongphosy, who is also chairman of the Laos-Vietnam Cooperation Committee, stated that, in addition to geographical advantages, the main reason is that Laos and Vietnam have long maintained a great friendship, solidarity special and comprehensive cooperation.

The investment of Vietnamese companies not only in the urban areas of the delta, but also in the remote areas with many difficulties in Laos, is not only purely profit-oriented, but also conducive to good political relations between the two countries, he added.

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Somboun Heuangvongxa, deputy governor of Champasak province, said Vietnamese investors not only fulfill their business and tax obligations well, but also demonstrate that they are very responsible investors.

In addition to protecting the environment well in accordance with the signed contracts, they are the ones that obtain the best results in social welfare work, recognized not only by inspection agencies at all levels, but also by senior leaders in Laos, he said.

Star Telecom (Unitel) – a subsidiary of the joint venture between Lao-Asia Telecom Company and Viettel Group of Vietnam – is a notable example, since 14 years after its launch, the company is the largest provider of telecommunications services and one of the largest contributors to the Laos budget, creating jobs for more than 27,000 employees.

Article republished from the Vietnamese state media VNA within the framework of an agreement between both parties to share content. Link to the original article:

Vietnam News Agency VNA

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