Southeast Asia Information Port (www.dnyxxg.com) – Vietnamese investment in Laos continues its steady growth, with approved investment expected to reach US$2.5 billion in 2025, a 59.6% increase over the previous year. Investment is concentrated in key sectors such as power, mining, and agriculture. This data was officially announced by Vietnamese Deputy Prime Minister Saleumxay Kommasith at the "Strategic Cooperation and Win-Win" Laos-Vietnam Investment Promotion Conference held last week in Vientiane.
The conference provided a platform for cooperation, coinciding with two important anniversaries.
The conference was co-chaired by Lao Prime Minister Somxay Siphandone and Vietnamese Prime Minister Pham Minh Chinh, with approximately 500 representatives from government departments and business communities of both countries in attendance. The event coincided with the 62nd anniversary of the establishment of diplomatic relations between Laos and Vietnam and the 50th anniversary of the founding of the Lao People's Democratic Republic, building an important bridge for communication to consolidate the special solidarity between the two countries and deepen comprehensive cooperation.
Sarunxay also disclosed that in the first 10 months of this year, the Lao government has approved 95 investment projects with a total investment exceeding US$5 billion, almost double the projected investment amount for 2024, demonstrating strong momentum in investment cooperation. Laos Launches Multiple Incentives to Optimize Investment Environment
As Chairman of the Lao-Vietnam Cooperation Committee and Chairman of the Investment Promotion and Management Committee, Saleumxay Kommasith reiterated the government's commitment to vigorously promoting domestic and foreign private investment. Simplifying investment approval procedures and improving investment management efficiency remain key priorities, with the revised Investment Promotion Law, to be promulgated in 2024, serving as a crucial support.
The law identifies nine priority investment sectors, with related projects enjoying multiple incentives: exemption from profit tax, reduction or exemption of state-owned land lease fees and franchise fees, and exemption from import duties on raw materials and machinery unavailable domestically. These preferential policies will be flexibly adjusted based on industry type and project location, while also including specific support policies for industrial parks and high-tech parks to help Lao industries integrate into regional and global value chains.
Both Leaders Express Commitment to New Cooperation Landscape
Laos Prime Minister Somxay emphasized that this meeting provided an efficient dialogue platform for government agencies and businesses from both countries, urging Lao and Vietnamese enterprises to actively explore new areas of cooperation and continue to be a "key driving force for national development in the new era."
Vietnamese Prime Minister Pham Minh Chinh praised Laos's remarkable achievements in socio-economic development and optimizing its investment environment, encouraging businesses from both countries to embrace innovation and deepen cooperation to contribute to bilateral economic growth and the special partnership between Laos and Vietnam.
The meeting concluded with the signing of nine investment cooperation documents, further reaffirming the two countries' firm commitment to deepening investment cooperation and consolidating bilateral relations.
