Vietnamese Minister of Planning and Investment Vo Hong Phuc and his Lao counterpart, Sinlavong Khoutphaythoun, the Association for Vietnam-Laos Economic Cooperation Development President Lai Quang Thuc, and Lao Deputy Minister of Planning and Investment Thoongmy Phomvisay chaired the meeting.

Opening the event, Minister Sinlavong Khoutphaythoun said the conference served as a forum for entrepreneurs and managers from both Laos and Vietnam to look into and tackle barriers hindering their operations, thereby further improving the investment environment.

The meeting was also a chance for participants to discuss measures to weather the ongoing world economic crisis, and define new investment areas in the coming years to plan investment promotion, he said.

Business representatives raised questions and opinions regarding land lease, licensing procedures, work permits, materials and equipment imports for projects.

Both Phuc and Khoutphaythoun affirmed that Vietnam and Laos have been consistent in their policies to foster the development of their comprehensive cooperation and facilitate the flow of Vietnamese investment in Laos.

The statistics released by the Lao Investment Promotion Department show that, over the past 20 years, the Lao Government has licensed 179 Vietnamese-invested projects, with a combined capital of 1.9 billion USD, focusing on energy, agriculture, mining, construction, telecoms, industry, handicraft, services and finance.
 
Last year, Vietnam surpassed China and Thailand to become the largest foreign investor in Laos./.