Lao, French firms seek to boost trade, investment links

16:35 | 09/02/2017 Global Economy

Representatives from Lao and French enterprises gathered at a meeting in Vientiane on February 8 to discuss orientations for expanding trade and investment links between the two countries.

Illustrative image (Source: annx.asianews.network)

Addressing the event, Lao Deputy Prime Minister Sonexay Siphandon called on Lao and French businesses to make concerted efforts to help Laos successfully implement its Plan for Social-Economic Development in the 2016-2020 period.

Laos aims to escape from the underdeveloped status by 2020, he said, adding that his country hopes to receive support from other countries, including France and French-speaking countries.

Participants held that the expansion of cooperation between Laos and France will lay a foundation for French firms to increase their investments in Laos.

The French Government has assisted Laos directly or indirectly through France’s development organisations, the French Embassy in Laos and other channels.

At present, the French Government is funding 28 projects in Laos, with an annual average cost of 15 million EUR.

In 2016, French investors poured 490 million USD into Laos, ranking sixth among foreign countries investing in the Southeast Asian nation.

Theo VNA