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NEWS UPDATES 31 July 2010

Vietnam to encourage local firms to invest in Laos

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The Vietnamese Government would continue to support the efforts of the country's businesses to invest in Houaphan Province, Laos, Deputy Prime Minister Nguyen Sinh Hung said yesterday, according to the Viet Nam News. The focus would be agriculture, industry, tourism, trade and education, he told his Lao counterpart Somsavat Lengsavad and Houaphan Province Governor Dr Khamphanh Viphavanh. The deputy prime minister, who is leading a high-ranking delegation in a visit to Laos's northern provinces, emphasised that Vietnamese investment in Houaphan Province had proved effective.

Political stability and the industriousness of the local people were its major advantages in addition to the potential of its agriculture, tourism and mineral resources, he said. The governor thanked the government and people of Viet Nam for their past support, especially for national defence and security, socio-economic development and education.

The province would now focus on the development of agriculture and tourism with the opening of a bus route linking provincial capital Sam Neua to Viet Nam's central Thanh Hoa Province, he said. The Lao deputy prime minister also thanked the Vietnamese Government for the help it has given Houaphan Province and said he expected the co-operation to continue developing and boost the special solidarity and friendship between the two countries.

The Vietnamese provinces of Son La, Thanh Hoa and Nghe An, which border Houaphan Province, have all provided it financial support and Vietnamese businesses have invested in 51 projects worth more than US$16 million since 1997.

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