Da Nang is planning to re-open a direct air route to Pakse City in Lao Champasak Province in order to boost bilateral cooperation in investment and tourism with Laotian locality in the years ahead.

Illustrative Image (Source: VNA)

This statement was made by Da Nang Party Committee Secretary Nguyen Xuan Anh during his recent working visit to Champasak Province.

He stressed the need for Da Nang and Pakse to further their cooperation in investment, trade, tourism, and education by re-opening the direct flight that was halted shortly after its original launch in 2013.

Secretary Anh said Da Nang has conducted numerous investment projects in infrastructure, urban development, trade service and tourism in south and central localities of Laos.

The two cities also agreed to implement their cooperation programmes during the 2018-2022 period.  Focus will be on the sectors of education, trade, tourism, heathcare and urban development.

As scheduled, Da Nang will support Champasak Province with a total fund of 21.74 billion VND to promote its social security and heath care sector.

The city gave a financial aid of 5.8 billion VND for Champasak Province under a Memorandum of Understanding over the 2013 - 2017 period.

To date, Da Nang has implemented only one investment project in Champasak Province, out of 271 foreign direct investment projects.

The city had signed assistance projects for Laotian provinces worth a total of 2 million USD from 2013 to 2017.

The city entered into 29 Memorandums of Understanding (MoU) with Laotian localities, including Vientiane, Savannakhet, Champasak, Sekong, Salavan, Attapu, Bolikhamsay and Xaynhaburi.

According to the Da Nang Investment and Planning Department, the city has invested 52.3 million USD in Laos’ garment, mine ore, industrial and agricultural sectors.

Last year, Da Nang exported petrol, rubber and plastics to Laos totalling 34.4 million USD.

According to the latest report from the Association of Viet Nam Investors to Laos (AVIL), Viet Nam’s investments in Laos now total 5.3 billion USD in registered capital, with annual growth rates averaging 30% over the past five years.

Investments registered in Laos account for around one quarter of Viet Nam’s overseas investments of 20.2 billion USD.

(Source: VNA/ Da Nang Today)