Vietnam and Laos agree closer coordination on agricultural investment
Vietnamese agricultural investors raised land and tax concerns as Lao officials outlined legal reforms and investment policies.
Vietnamese and Lao representatives agreed to improve coordination and information exchange to address agricultural investors’ difficulties at an investment conference in Vientiane on October 22. More than 250 people attended, including officials and business representatives from both countries.
Lao Deputy Minister of Agriculture and Environment Xaynakhon Inthavong said 208 Vietnamese businesses had registered about US$1.4 billion in investment across crop production, forestry and livestock farming in Laos. He said the government remained committed to attracting clean-agriculture investment connected to processing industries.
Xaynakhon said Laos was improving its legal framework, including cultivation and investment-promotion legislation, land-leasing regulations and the Land Law. Lao officials also explained licensing requirements, investment incentives and land policies.
Vietnam Rubber Group, Vinamilk and Greenfeed were among the companies discussing expansion plans and operational difficulties. Businesses raised concerns about compensation and land clearance, overlapping land areas, delayed certificates for land-use rights and tax incentives. Lao officials responded during a conference discussion.
Vietnamese Ambassador to Laos Nguyen Minh Tam urged investors to meet their commitments, obey Lao laws, safeguard the environment and train local employees. He also called for business performance to be linked to social welfare.
The Laos-Vietnam Cooperation Committee identified transport infrastructure and energy as priorities for closer economic links, alongside a bilateral trade target of US$10 billion by 2030. Closing the meeting, Xaynakhon urged Lao agencies and local authorities to remove unnecessary administrative steps and encouraged businesses to work with local communities.
