On the evening of 26/12/2012, in Hanoi, within the framework of the official friendship visit to Vietnam, the General Secretary of the Central Executive Committee of Lao People’s Revolution Party, State President of Lao People’s Democratic Republic Chummaly Sayasone paid a working visit to the Association of Vietnamese Investors in Laos (AVIL)and the Joint Stock Commercial Bank for Investment and Development of Vietnam (BIDV).

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Attending the working visit  by the General Secretary, President of Lao People’s Democratic Republic Chummaly Sayasone, on the part of the Party, the State of Lao People’s Democratic Republic, there were Deputy Prime Minister, Chief of the Central Foreign Relations Division, Minister of Foreign Affairs Thonglun Xixulit; Deputy Prime Minister, Chairman of the Division of Lao - Vietnam Cooperation Xomxavat Lengxavat; Minister of Education - Sports, Chairman of Lao - Vietnam Friendship Association Phankham Viphavan together with many leaders of the Central ministries and sectors.

On the Communist Party of Vietnam, the State of Socialist Republic of Vietnam, there was Deputy Prime Minister Nguyen Xuan Phuc together with leaders of some Central ministries and sectors.

Speaking at the working session, General Secretary, President of Lao People’s Democratic Republic Chummaly Sayasone highly appreciated the contributions made by AVIL over the past time, especially the task of serving as the bridge between the enterprise and competent authorities of two countries to promote cooperation, trade and investment. In spite of being established on 9/9/2011, with 60 key members as groups, corporations and big enterprises of Vietnam where BIDV acts as the Chairman, over the past year, AVIL has contributed greatly to promoting investment activities of Vietnamese enterprises to Laos in particular and the economic relations between two countries in general.

General Secretary and State President of Laos wished that, with its role and task, AVIL would continue to boost the investment activities of Vietnamese enterprises in Laos in the coming time, enabling Vietnam to maintain its top 3 position in investment in Laos.

Also at this working session, on behalf of the Communist Party of Vietnam and the State of Vietnam, Deputy Prime Minister Nguyen Xuan Phuc recognized and highly appreciated the role of AVIL and BIDV in the economic  cooperation growth between two countries over the past time. The Deputy Prime Minister emphasized that: “In 2012, economic cooperation between two countries had strong growths due to the active and strict contribution made by the community of Vietnamese investors as members of the Association of Vietnamese Investors in Laos as well as key role of BIDV as the Chairman of the Association. Such contributions have contributed to leading the economic relations between two countries to a new intensive and comprehensive phase in all fields in accordance with the guidelines and orientation of the High ranking leaders of two Parties, two States. Economic cooperation prospect between Laos and Vietnam in the coming time is quite positive, Laos and Vietnam continue to encourage and promote the economic relations corresponding to the potential and good and special political relations between two Parties and two States”.

Mr. Tran Bac Ha, Chairman of AVIL, Chairman of the Management Board of BIDV, reported the situation, result, operation orientation and some recommendations of AVIL. Over the past time, Vietnam – Lao trade – investment operation has developed quickly both in terms of scale and quantity. Two-way trade turnover between two countries in 2012 achieved more than 900 million USD, increasing by 22% compared with that in 2011 and estimated to reach 2 billion USD by 2015; Vietnam ranks 03/25 nations investing in Laos. According to the statistics by the Ministry of Planning and Investment of Vietnam, Vietnam licensed 222 projects with total registered capital of nearly 3.8 billion USD (in which, in 2012, there were 13 projects with total registered capital of nearly 400 million USD); Laos licensed 415 projects with total investment of nearly 5 billion USD. In which, from the proposal for support from AVIL, some projects of Vietnam were licensed such as: Potassium mine salt project of Vietnam National Chemical Group; Sugarcane Complex Project of Hoang Anh Gia Lai Group in Attapeu province (Laos); Project for surveying, exploring and exploiting tint, lead and zinc of Chien Cong Mineral and Industrial Joint Stock Company; Increasing Lao – Vietnam Joint Venture Bank Charter to 37.5 million USD.

During the investment in Laos, Vietnamese enterprises actively carried out Social security, contributing to the poverty reduction of the Government of Laos in some difficult areas. According to preliminary statistics, total money registered by Vietnamese Enterprises for Social security in Laos over the past two years achieved 35 million USD.

“In spite of impact caused by economic crisis and many difficulties during the investment, in general, investment projects of Vietnam in Laos were carried out timely. Completed projects brought into full play, contributed to increasing budget income, Lao economic growth, stabilizing accommodation and job for about 20000 labors, contributed to improving the people’s life”, affirmed Mr. Tran Bac Ha.

The visit paid by the General Secretary, President of Lao People’s Democratic Republic Chummaly Sayasone is the great source of encouragement for the staff of AVIL and BIDV.