Chairman of Vietnam’s National Assembly, Vuong Dinh Hue, has made an official visit to Laos this week to strengthen bilateral relations and discuss Vietnamese investment in Laos.
The visit came following an invitation from the President of the Lao National Assembly, Dr. Xaysomphone Phomvihane, who held talks with his counterpart, Mr. Vuong on a range of issues.
Laos and Vietnam celebrate the Laos-Vietnam Year of Friendship and Solidarity this year, amid the 60th anniversary of Lao-Vietnamese diplomatic relations.
During talks, the two national assemblies reviewed relations and cooperation between both nations and parliaments and spoke of future cooperation.
Chairman Hue also held a meeting with representatives of the Vietnamese business community in Laos, accompanied by Deputy Prime Minister Sonexay Siphandone.
Following the meeting, Duong Dinh Bang, Interim Chairman of the Vietnamese Business Association for Cooperation and Investment in Laos, said the Lao Government is amending legal regulations so as to improve the investment climate.
He said that while Laos remains a top investor in Laos, investment relations have fallen short of expectations and are yet to match political and diplomatic ties.
Deputy Prime Minister Sonexay said Vietnam is currently the third biggest foreign investor in Laos, with a total investment of USD 4.6 billion.
Vietnamese business representatives called on the Government of Laos to do more to improve the investment environment and help facilitate ease of doing business.
Chairman Hue visited the Vietnamese Embassy in Laos and met with the Vietnamese community there.