December 04, 2023 | 07:00 GMT+7

Seminar looks at Vietnam - Laos cooperation for growth recovery

Huyền Vy -

Vietnam has more than 400 FDI projects with registered capital of $4.22 billion now operating in Laos, seminar hears.

A seminar with the theme “Vietnam - Laos Friendship: Pushing ahead with bilateral cooperation and sharing experiences for macro-economic stability and growth recovery”, was held on December 1 with two online locations in the capitals Hanoi and Vientiane.

The event was co-hosted by the Vietnam Academy of Social Sciences (VASS), the Vietnam Institute of Economics, and the Lao Academy of Social and Economic Sciences to mark VASS’s 70th anniversary.

According to reports presented at the seminar, two-way trade between Vietnam and Laos has increased nearly ten-fold over the past 18 years, from $165 million in 2005 to $1.6 billion in 2022.

Vietnam has invested in more than 400 FDI projects in Laos, with total registered capital of an estimated $4.22 billion, in sectors such as agriculture, manufacturing and processing, and banking and finance, among others.

Trade and investment have contributed positively to socio-economic development in both countries, further strengthening the special friendship and cooperation between the two neighbors.

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