Vietnam's State President Tran Dai Quang has praised the efforts of Vietnamese investors in Laos during his three-day state visit to the country that began on Sunday.

President Quang convened a workshop with Vietnamese businesses operating in Laos on Monday morning in Vientiane, the Vietnam News Agency reported.

During the meeting, the Vietnamese head of state gave credit to the investors and enterprises that had actively carried out restructuring and remodeling to suit the new market.

The Vietnamese Party and state always provide favorable conditions for local businesses to invest and operate in Laos, the leader added.

He hailed the efforts of the Association of Vietnamese Investors in Laos and the businesses themselves in overcoming local challenges while ensuring the schedule of their projects was upheld.

The president requested the association and other relevant Vietnamese ministries maintain the effective dialogue with both governments to offer better assistance to business.

Priority will be given to cooperation in energy, mineral exploration, exploitation and processing, agriculture, infrastructure development, tourism, finance, and banking, according to President Quang.

Enterprises should utilize all their resources to expedite investment projects, while keeping up with promised quality standards, the leader said, adding that businesses also need to contribute to the community by assisting with poverty reduction, environmental protection, and social welfare insurance.

Vietnam currently ranks third among countries and territories investing in Laos, with 258 projects valued at US$5.3 billion in the first five months of 2016.

The head of state also met with Secretary General of the Laos-Vietnam Friendship Association Saykhong Sayasin, confirming that Vietnam would be giving priority to the consolidation and strengthening of the relationship between the two nations, according to the Vietnam News Agency.

President Quang’s agenda on Monday also included visitng the Kaysone Phomvihane Museum, paying tribute to late Laotian President Souphanouvong, and laying a wreath at the unknown martyrs’ monument in Vientiane. 

In addition, he paid a visit to Laos’ former Prime Minister Thongsing Thammavong, before leaving Vientiane for Champasak Province in the afternoon.

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