(VOVworld)-The Vietnam-Laos conference on economic and investment cooperation took place in Danang , Vietnam on Saturday. Lao Deputy Prime Minister and President of the Laos-Vietnam Cooperative Sub-committee, Somsavat Lengsavath and Vietnamese Deputy Prime Minister Nguyen Xuan Phuc, President of the Vietnam-Laos Cooperative Sub-committee chaired the event.

Conference on Vietnam – Laos Economic Cooperation opens in Da Nang (Photo: Internet)

Deputy Prime Minister Phuc highlighted the significance of the meeting as a good chance for the two sides to review recent economic and investment cooperation and devise measures to remove difficulties in the future:“The two countries’ Ministries of Planning and Investment should help the two Governments to promote bilateral investment and work closely with each other to remove obstacles for business growth and accelerate effective investment. Both sides need to maintain a frequent dialogue and fine tune trade and investment policy to ensure efficient investment. We expect the Laotian government to continue its support for Vietnamese’s investment in Laos .”

By the end of May this year, Vietnam had 214 projects licensed to operate  in Laos with a combined capitalization of US$3.45 billion. Vietnam ranks third among the 52 countries and territories investing in Laos and plans to raise their total investment capital to 7 billion US dollars by 2015.