BIDV and the Vietnamese Investors Association to Laos to organize the economic cooperation programs in Laos

Publish date
15/09/2011

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BIDV and the Vietnamese Investors Association to Laos to organize the economic cooperation programs in Laos

From 09/9 – 10/9/2011, the group of Vietnamese Enterprises in Laos had honor to receive the Prime Minister of the Socialist Republic of Vietnam Nguyen Tan Dung to visit and participated in some activities of the group within the framework of the official friendly visit to Lao People’s Democratic Republic.

​In the morning of 10/9/2011, at the Center for Training and International Conference, Vientiane Capital – Laos, Vietnam Prime Minister Nguyen Tan Dung, Laos Prime Minister Thongsinh Thammavong attended and co-chaired Vietnam – Laos Investment Cooperation Conference held by the Ministry of Planning and Investment of the two countries with the participation of 300 enterprises from Vietnam and Laos. The conference heard the contributed opinions from the Leaders of the Ministries, Branches, and Enterprises of the two countries. The Prime Ministers of the two countries spoke the direction at the Conference.   

At the Conference, 05 projects of the Vietnamese Enterprises were granted the investment certificates by the representative of Lao Government; 06 projects were signed with total value of USD 410 million; in addition, 02 credit agreements were signed by the Bank for Investment and Development of Vietnam (BIDV), Lao Viet Bank with the enterprises with the total investment value of USD 114 million, of which BIDV financed USD 60 million, Lao Viet Bank financed USD 20 million. On this occasion, the Vietnamese enterprises also announced and awarded the social security to Laos with a total value of nearly USD 3 million. In particular, in the witness of the Leaders of the two Governments and the other participants, Vietnamese Investors Association in Laos was officially awarded the establishment decision.

Earlier, in the afternoon of 09/10/2011, at No. 40 Lanxane, Vientiane, under the participation and witness of the Prime Ministers of the two countries, BIDV also officially opened its Representative Office in Vientiane Capital, Laos. This opening and operation not only affirmed the position as well as determination of BIDV in expanding the investment in Lao Market, but also through this, the Enterprises will have more information for market research, learning about the partners and opportunities, solutions to business development. From that, it can provide the consultancy support to the Vietnamese investors in particular and the enterprises of the two countries in general in promoting the economic cooperation. Speaking at the opening ceremony, Mr. Tran Anh Tuan – General Director of BIDV affirmed that: “BIVD believes that the activities of BIDV Representative Office in Laos will actively support the Vietnamese enterprises in the activities in the local countries, become an important bridge, a reliable address of the Vietnamese enterprises investing in Laos”.

In the morning of 10/9/2011, the Prime Minister attended and planted trees as souvenir at the Groundbreaking Ceremony for the construction of Vientiane 5-star hotel Complex. This is the work for apartments, offices for lease and trade center Complex which is first present in Vientiane with a total investment of nearly USD 70 million.

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