VietNamNet Bridge - Along with more large Vietnamese enterprises investing in Laos, Laos’ leading enterprises are also seeking business opportunities in Vietnam based on the advantages of economic relations, favorable geographical location and especially the special relationship between the two countries.

In a recent meeting with Foreign Investment Agency – Ministry of Investment and Planning, Phongsavanh Group, a leading group in Laos with successful businesses in international trading, timber, hotel, telecommunication and consumer products, petroleum and airlines has expressed interest in investment opportunities in Vietnam focused on seaports, transportation and logistics, oil and gas business.

Mr. Chanthone Sitthixay, CEO of Petroleum Trading Lao Public Company, said they are interested in investing in a seaport in Vietnam to support the development of trade, and expansion of international trade relations to Laos via the sea.

Laos is a landlocked country, so investing in the seaport, especially in the central region of Vietnam, will help Laos have more favorable sea water connections and be more active in import and export. It also would help the country open an important gateway to connect with the Asian economic community.

Phongsavanh Group also wants to cooperate in the petroleum business, especially in export and import, and open fuel sources from Vietnam to reduce the risks of excessive dependence on imports from Thailand. The Group has also proposed cooperation in the field of transport with Vietnam through possible development of transport routes connecting Laos – Vietnam and other countries.

Leaders of the Foreign Investment Agency and the Ministry of Investment and Planning advocate expanding business in Laos to Vietnam. The Vietnam side is willing to create conditions for Laos businesses in seeking opportunities and investment cooperation in all fields that have potential. The investment cooperation is quite favorable based on the actual requirements of the two countries and the foundation of friendly relations between Vietnam and Laos.

Leaders of the Foreign Investment Agency said that seaports are an encouraging investment in Vietnam. Phongsavanh Group should pay much attention to the port where the central region has an advantage and can connect directly from Laos to the seaports of Vietnam.

In the transport sector, Vietnam has agreed to create conditions for the Group looking for investment opportunities to facilitate the trade connections of the two countries. In the petroleum sector, the two sides may be interested in cooperating petroleum imports, creating a stable supply for Laos.

In meetings with the major economic groups in Vietnam, like PetroVietnam and Petrolimex, enterprises of the two countries have also agreed to host and support the growth of business cooperation to develop mutually beneficial economic relations between the two countries.

At a meeting with PetroVietnam, Dr. Oth Phongsavanh, Chairman of Phongsavanh group, said he wished to cooperate in purchasing petroleum supplies from Vietnam and expanding business markets as well as business infrastructure and transportation of petroleum to Laos.

PetroVietnam leaders said they are advocates of business cooperation with Phongsavanh Group and Laos enterprises in general. With its potential, PetroVietnam is possible providing fuel for Laos in bulk and stability as well as cooperating in export and import, and exploiting business infrastructure.

Petrolimex from Vietnam has also expressed willingness to cooperate with Phongsavanh Group as well as businesses in Laos in its strength as an oil and gas business.

In addition to cooperation in supplying gasoline to diversify sources of supply for Phongsavanh and Laos, which are now largely dependent on Thailand, Petrolimex is willing to share experiences and business management with businesses in Laos.

The directions of effective cooperation that the two sides may initially be interested in: include imports and creating a large supply of petroleum to Laos from Vietnam to supplement the sources that are mainly imported from Thailand to reduce risks.

In addition, the two sides can jointly develop the Laos market in the fields of sales systems and product development as well as share experience on business management.

Phongsavanh Group leaders said that Laos is growing strongly in many areas, and large enterprises from Thailand and other countries are searching for business opportunities in Laos. Besides, the process of regional integration and the establishment of the ASEAN Economic Community will open up more opportunities. Therefore, enterprise collaboration between Vietnam and Laos has many prospects. It is believed that the partnership will progress smoothly based on the needs of both sides to cooperate and the support of the two governments on the basis of friendship and good relations between the two countries.

PV