Laos offers many preferential policies to attract investment from Ho Chi Minh City businesses.

The Lao government has introduced many preferential policies to invite Ho Chi Minh City businesses to invest in areas such as modern agriculture , agricultural processing, clean energy, mineral processing, tourism, and logistics.

The Lao government has introduced many preferential policies to invite Ho Chi Minh City businesses to invest in areas such as modern agriculture, agricultural processing, clean energy, mineral processing, tourism , and logistics.

On December 27, in Ho Chi Minh City, the Lao Consulate General in Ho Chi Minh City coordinated with the Ho Chi Minh City People's Committee to organize the Vietnam - Laos Trade and Investment Promotion Forum 2024.

Regarding the investment situation between the two countries, Mr. Vansy KouaMoua, Deputy Minister of Culture, Information and Tourism of Laos, said that Vietnam is one of the three largest investors in Laos, including China, Thailand and Vietnam.

Currently, Vietnam has a total of 417 investment projects in Laos, with a total approved value of nearly 5 billion USD. Of which, 100% Vietnamese investment projects account for 4.6 billion USD.

Vietnamese enterprises mostly invest in agriculture with 680 million USD, electricity with 980 million USD, mineral exploitation with 1 billion USD, and other services with 2 billion USD.

Within the framework of the Forum, Vietnamese and Lao enterprises signed investment cooperation agreements.

Assessing the investment potential in Laos, Mr. Dinh Khac Huy, Deputy Director of the Department of Planning and Investment of Ho Chi Minh City, said that the room for investment and trade cooperation between Vietnam and Laos in general and Ho Chi Minh City and Laos in particular is still very large.

According to Mr. Huy, to turn potential into specific numbers, Ho Chi Minh City enterprises need to focus on a number of areas with strengths such as renewable energy; agricultural processing. "Localities in Laos have great potential for renewable energy and agricultural production while Ho Chi Minh City has a large number of enterprises with potential in capital and technology in these areas," Mr. Huy emphasized.

Besides the fields of renewable energy and agricultural processing, the two sides can also promote cooperation in the fields of education , human resource training, and tourism.

At the discussion session, some businesses asked about the Lao Government's support policies when businesses invest in high-tech agriculture.

Representative, Bach Anh Hao Trade Development Solutions Co., Ltd. asked what support policies does the Lao Government have for high-tech agricultural models like SmartFarm?

Informing businesses, Mr. Phaophongsavath Phouvong, representative of the Department of Investment Promotion, Ministry of Planning and Investment of Laos, said that the Lao Government invites businesses from Ho Chi Minh City to invest in the fields of modern agriculture, agricultural processing, clean energy, mineral processing, tourism, and logistics.

Enterprises investing in the above-mentioned fields will enjoy many preferential policies such as exemption from corporate income tax; exemption from tax on renting or transferring the right to use state land; exemption from import tax on materials and equipment that cannot be produced domestically and machinery used in direct production.

The preferential rate will depend on the field and location of the project. Furthermore, when businesses invest in special economic zones, they will receive additional investment incentive policies.

Foreign investors investing in Laos will be given the most favorable conditions in business registration, applying for operating licenses, applying for residence cards and investment visas.

Source: https://baodautu.vn/lao-dua-ra-nhieu-chinh-sach-uu-dai-de-thu-hut-doanh-nghiep-tphcm-dau-tu-d236284.html