Vientiane:Laos and Vietnam have reaffirmed their commitment to bolstering bilateral investment cooperation. Leaders from both nations emphasized the need for increased private-sector investment and improvements to the business environment during the Laos-Vietnam Investment Promotion Conference held on October 8.

According to Lao News Agency, the conference was co-chaired by Lao Prime Minister Saleumxay Kommasith and his Vietnamese counterpart Le Minh Hung. It was organized with the collaboration of several committees and associations from both countries, bringing together government officials and representatives from public and private enterprises.

This meeting served as a platform to enhance the longstanding relationship and comprehensive cooperation between the two countries, marking significant anniversaries in their diplomatic and cooperative history. Additionally, it contributed to preparations for the Laos-Vietnam Year of Friendship and Solidarity in 2027.

Prime Minister Saleumxay Kommasith emphasized the importance of domestic and foreign private investment for Laos, highlighting efforts to improve the investment climate. A key measure in this regard is the establishment of the Investment Promotion and Management Committee, which aims to streamline investment processes.

The Lao government approved 45 investment projects in the first nine months of 2026, totaling US$8.57 billion, with Vietnam being the largest investor. Vietnamese Prime Minister Le Minh Hung urged Vietnamese businesses to further expand their investments in Laos, identifying several priority sectors for potential growth.

Business representatives at the conference expressed confidence in government policies supporting private-sector investment and called for further administrative improvements to facilitate business operations. The event concluded with the exchange of 18 investment documents, cementing the commitment to strengthen investment cooperation between Laos and Vietnam.