The two-way trade value exceeded US$1 billion in 2018, up 14% year-on-year.
Viet Nam’s major exports to Laos are oil and gas, steel and steel products, and means of transport, which, together, accounted for 40.84% of the total number, with US$12.8 million coming from oil and gas.
The Lao Government is gradually removing complex administrative regulations and procedures, reducing timing required for corporate establishment, cutting tax and upgrading infrastructure.
The move aims to improve the country’s business environment, thus attracting more foreign investors, including those from Viet Nam.
Viet Nam is Laos’ third largest trade partner.
By Vien Nhu