Lao central provinces promote trade, investment in HCM City

09:09 | 20/07/2017 Economy

A conference calling for investment in the three central Lao provinces of Savannakhet, Bolykhamsay and Khammouane took place in Ho Chi Minh City on July 19.

Scene at the conference - Photo: VNA

Addressing the function, Vice Chairman of the municipal People’s Committee Le Thanh Liem stated that Ho Chi Minh City considers Laos as a strategic market with great potential for investment, trade and tourism activities.

He urged local companies to study the Lao market and assist in the country’s socio-economic growth.

Liem asked the authorities in the three provinces to facilitate the operation of foreign investors, including those from his city.

Holding strategic locations in Laos’ East-West economic corridor, Savannakhet, Bolykhamsay and Khammouane are offering preferential policies for foreign investors in advanced technology, the processing of agricultural produce, eco-tourism, education, and health.

Savannakhet Governor Santiphap Phomvihane noted that Vietnam is the third largest foreign investor in his province, with 24 projects worth US$ 170 million.

The number of Vietnamese investors is on the rise, as is the scope of their investment sectors, he added.

Khammouane Deputy Governor Bunmy Phimmason said that his province has the potential to develop the power and mining sectors, in addition to a having a convenient transport infrastructure.

Khammouane is committed to providing the best possible conditions for investors in terms of land sources and taxation, he stressed.

Leaders of the three province said they want enterprises from Ho Chi Minh City to organise regular trade promotion activities in their localities, contributing to the sound collaboration between the two countries.

The conference was held by Ho Chi Minh City Investment and Trade Promotion Centre (ITPC).

More than 30 firms in Ho Chi Minh City have thus far channeled over US$ 250 million into projects in Laos.