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VN, Laos share experience

Update: October, 08/2014 - 09:06
Deputy Prime Minister Nguyen Xuan Phuc (R)  meets with his Lao counterpart Bunpon Buttavong in Ha Noi yesterday. — Photo VGP

HA NOI (VNS) — Viet Nam always gave the highest priority to fostering its special ties with Laos and was willing to share socio-economic development experience with its neighbour, Deputy Prime Minister Nguyen Xuan Phuc said while meeting with his Lao counterpart Bunpon Buttavong in Ha Noi yesterday.

Buttavong thanked the Party, State and people of Viet Nam for their practical and effective support over the past years.

The same day, the Lao Deputy PM met with State Bank of Viet Nam Governor Nguyen Van Binh, who shared his experience in handling issues related to inflation control, currency market stabilisation, banking restructuring and equitisation and bad debt settlement.

Bunpon Buttavong spoke highly of the role that Vietnamese enterprises as well as the Association of Vietnamese Investors in Laos (AVIL) and the Bank for Investment and Development of Vietnam (BIDV) played in the economic development of Laos.

Trade between Viet Nam and Laos reached US$939 million in the first nine months of this year, a 45 percent rise year-on-year, according to Chairman of BIDV Board of Directors and AVIL Tran Bac Ha. Viet Nam's exports accounted for $298 million of the total and were mostly iron and steel, fuel, transport vehicles and accessories.

Viet Nam ranks second after China among countries and territories investing in Laos, with about $5 billion invested in 413 projects, according to the Ministry of Planning and Investment. — VNS


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