Deputy Prime Minister Saleumxay Kommasith addresses the Laos-Vietnam Investment Promotion Conference in Vientiane last week. - Vientiane Times/ANN
VIENTIANE (Vientiane Times/ANN): Vietnamese investment in Laos continues to expand steadily, with approvals reaching US$2.5 billion in 2025—an increase of 59.6 per cent compared to the previous year.
The investments span key sectors including electricity, mining, and agriculture.
Deputy Prime Minister Saleumxay Kommasith reported the figure at the Laos–Vietnam Investment Promotion Conference held in Vientiane last week under the theme “Strategic Cooperation for Prosperous Development.”
The event was co-chaired by Prime Minister Sonexay Siphandone and Vietnam’s Prime Minister Pham Minh Chinh, and brought together around 500 representatives from government bodies and the business community.
According to Saleumxay, the Lao government approved 95 investment projects in total during the first 10 months of this year. The total investment value exceeded US$5 billion—almost double that recorded in 2024.
The conference served as an important platform to further strengthen the special solidarity and comprehensive cooperation between the two neighbouring nations. It also coincided with the 62nd anniversary of Laos–Vietnam diplomatic relations and the 50th anniversary of the founding of the Lao People’s Democratic Republic.
Saleumxay, who chairs both the Laos–Vietnam Cooperation Committee and the Investment Promotion and Management Committee, reaffirmed the government’s commitment to boosting private investment from domestic and foreign sources. Streamlining investment approval procedures and improving the efficiency of investment management remain key priorities, he said.
A major component of these efforts is the amended Investment Promotion Law, enacted in 2024, which identifies nine priority sectors eligible for investment incentives.
These include profit tax exemptions, reductions or waivers of state land rental and concession fees, and exemptions on import duties for materials and machinery unavailable domestically.
The incentives vary according to sector and project location, and are complemented by special policies to support the development of industrial parks and high-tech zones—helping integrate Lao industries into regional and global value chains.
Prime Minister Sonexay highlighted the significance of the conference in fostering dialogue between government agencies and the business sector.
He urged Lao and Vietnamese companies to explore new areas of cooperation and continue contributing as “key drivers of national development in the new era.”
Vietnamese Prime Minister Pham Minh Chinh commended the Lao government’s socio-economic progress and its efforts to create a favourable investment climate.
He encouraged businesses in both countries to embrace innovation, strengthen collaboration, and actively contribute to shared economic growth in alignment with the special Laos–Vietnam partnership.
The conference concluded with the signing of nine investment cooperation documents, reaffirming the commitment of both nations to further deepen investment collaboration and strengthen bilateral ties. - Vientiane Times/ANN
