Bui Quang Vinh, minister of Planning and Investment, stated at the Vietnam-Laos Economic Cooperation Conference in Da Nang on July 7 that Vietnam expects to invest around US$7 billion in Laos by 2015.
In June 2012, Vietnam had 214 projects in Laos with a total investment of US$3.45 billion, ranking it as the biggest investor out of 60 other countries and territories.
Vietnamese investors have focused on fields that include energy, planting of industrial trees and mineral exploitation. Businesses have also cooperated with localities to spend tens of millions of dollars in charitable activities such as building of schools, health clinics, roads and houses.
The conference was attended by Vietnamese and Laotian deputy prime ministers, Nguyen Xuan Quang and Leng Savad Somsavad.