Lao Prime Minister Bouasone Bouphavanh has pledged favourable conditions for Vietnamese investors to foster investment cooperation between the two countries.

Meeting Minister of Planning and Investment Vo Hong Phuc in Vientiane on August 11, the Lao PM spoke highly of Vietnam’s approval for the establishment of the Vietnam-Laos-Cambodia Investment Encouragement Association.

He said he hoped that the association will provide consultancy to the ministries of planning and investment of the three countries to boost Vietnam’s investment into two neighbourering countries.

Minister Phuc said Vietnamese investors are eyeing investment in power, mining and industrial tree plantation projects in Laos, especially projects in border areas and some hydro power plants in northern Laos.

During a four-day visit to Laos starting from August 10, the Ministry of Planning and Investment’s delegation and the Laos side planned to discuss measures to boost Vietnam-Laos investment cooperation in the future and find out solutions to remove barriers. (VNA)