Viet Nam exported US$97.4 million worth of goods to its neighbouring country Laos in the first two months of 2019, up 20.26 per cent against the same period last year, according to the industrial and commercial information centre under the Ministry of Industry and Trade.

The country’s major exports to Laos are oil and gas, steel and steel products and means of transport, which, together, accounted for 40.84 per cent of the total, with $12.8 million coming from oil and gas.

Trade turnover between Viet Nam and Laos exceeded $1 billion in 2018, up 14 per cent year-on-year, the centre said.

Viet Nam is Laos’ third largest trade partner, after Thailand and China.

The Lao government is gradually removing its complex administrative regulations and procedures, reducing the time needed for corporate establishment, cutting taxes and upgrading infrastructure.

The move aims to improve the country’s business environment to attract more foreign investors, including those from Viet Nam. — VNS