Lao Permanent Deputy Prime Minister Somsavat Lengsavat has affirmed that Laos-Vietnam economic cooperation has seen solid developments and brought mutual benefit to both sides. Talking on economic cooperation between Laos and Vietnam during the 2006-2009 period and future prospects, Deputy PM Somsavat, who is also Chairman of the Laos-Vietnam’s investment in Laos was small from 2006 to the end of the third quarter of 2007. But since the end of 2008, a wave of investment by Vietnamese businesses has helped Vietnam become one of Laos’ three biggest investors. Laos has strong potential in hydro-electricity, land and minerals while Vietnam has capital, capability and technology so that both countries can cooperate in building hydroelectric projects, planting industrial crops and exploiting minerals. According to Laos Ministry of Planning and Investment, 2009 was the second consecutive year that Vietnam topped Laos’s investor list with 48 investment projects to totaling 1.42 billion USD. It was followed by China with 47 projects which are valued at 932.8 million USD and Thailand with 37 projects worth 908.6 million USD in total.
Source: KPL – Lao News Agency
