President Sang receives Lao Deputy PM Lengsavad

The president made the proposal at a reception for Lao Deputy Prime Minister Somsavat Lengsavad in Hanoi on January 9, during which he praised Laos' increasingly competitive investment environment, its burgeoning processing industry and its fast-improving service sector.

He suggested the country should learn from the development experiences of other regional countries in order to roll out its own models for sustainable economic growth in the time ahead.

In reply, Deputy PM Lengsavad said that during his visit he intends to consult with the Finance Ministry and the Ministry of Industry and Trade of Vietnam about macro-economic stability.

Noting similarities shared by the two countries in economic management, he said Vietnam's experience has significantly helped Laos in its financial management.

The same day, Lengsavad was received by Deputy Prime Minister Nguyen Xuan Phuc, who voiced his belief that the visit will actively contribute to the special friendship between the two countries.

He underlined the great achievements made in bilateral co-operative ties, especially in economics, trade, investment, education and training.

The host affirmed that the Party, State and people of Vietnam have always given top priority to consolidating the traditional relationship and special solidarity with Laos.

Deputy PM Phuc suggested the Lao Government, together with its Vietnamese partners, accelerate the implementation of previously reached agreements, including the strategic project for the 2008-2015 period which set a target of raising two-way trade to US$2 billion in 2015.

Deputy PM Lengsavad pledged to help Vietnamese businesses operating in his country as best he can. He underscored the need for the two countries' ministries and localities to implement solutions reached by high-ranking leaders while overcoming difficulties hindering enterprises in investment, business and social welfare.

During his stay in Vietnam, the Lao deputy PM also held a working session with the governor of the State Bank of Vietnam, Nguyen Van Binh.

At the meeting, Governor Binh explained Vietnam's complex economic situation to his guest, as well as the socio-economic changes the country has embraced to put the country on the right track.

He also briefed Lengsavad on the monetary and banking policy enacted in order to achieve macro-economic recovery and sustainable growth.

The Lao leader said Vietnam's experience in overcoming difficulties to ensure sustainable economic development, especially in recent years, is of particular significance to his country's socio-economic development.

He expressed his hope to receive more support from Vietnam to help his country in its economic management.

(Source: Nhandan Newspaper Online)