Closer Ties With Vietnam

October 2004
Asia Monitor: South East Asia Monitor Volume 1;Oct2004, Vol. 15 Issue 10, p7
Country Report
Country Report
This article focuses on Laos' foreign relations with Vietnam. In May, the deputy prime minister of Laos, Thongloun Sisoulith, said that the government was offering preferential treatment for Vietnamese companies investing in Laos, including tax breaks, reductions in land rent, and zero duty on imports. According to official figures, there are currently 29 Vietnamese firms with investments in Laos, worth a combined 19 million American dollar. Vietnamese companies have investments in projects in agriculture, construction, pharmaceuticals, and wood processing. Another symbol of growing commercial ties between Laos and Vietnam is the Lao-Viet Bank, founded in 1999 as a joint venture between Lao and Vietnamese state-owned banks to provide trade finance.


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