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Ho Chi Minh City boosts investment in Laos

Sunday, July 30, 2017, 14:31 GMT+7

Ho Chi Minh is set to enhance its cooperation with Laos and spur investment from Vietnamese businesses in the neighboring country.

A conference on promoting investment, trade, and tourism was organized in Vientiane on Saturday afternoon, with the attendance of leaders from Ho Chi Minh City and Laos, along with hundreds of Vietnamese and Lao businesses.

The delegation from the Vietnamese metropolis was led by Deputy Secretary of the municipal Party Committee Tat Thanh Cang.

Speaking at the event, Huynh Cach Mang, vice-chairman of the Ho Chi Minh City People’s Committee, said that many city businesses had operated well in several Lao localities, including Vientiane.

A total of 36 companies have expanded their business activities to Laos with the combined capital of nearly US$345 million, Mang continued.

Several memoranda of understating were signed between authorities and business organizations from Ho Chi Minh City and Laos during the conference.

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Deputy Secretary of the Ho Chi Minh City Party Committee Tat Thanh Cang (R) introduces locally-made pottery products to Sinlavong Khoutphaythoune, Mayor of Vientiane. Photo: Tuoi Tre

The gathering was part of a series of events named ‘Ho Chi Minh City Days in Vientiane,’ during which leaders from both sides signed MOUs on cooperation in the 2017-20 period.

The agreements highlighted the two cities’ ties in multiple fields, including tourism, culture, sports, finance, and others.

Deputy Secretary Cang also joined talks with leaders from the Lao capital, addressing measures to boost investment, trade, tourism and services.

Ho Chi Minh City is always willing to share its experience with Vientiane, the official said, expressing his hope for more exchanges between authorities and people from both sides.

“The cooperation between the two cities should set the example to other Vietnamese and Lao localities in their collaboration,” he said.

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