Signing the memorandum of understanding in industry and trade

Mr. Man Ngoc Ly – Director of Binh Dinh Department of Industry and Trade (sitting, right) and Mr. Sombath Senphanxong – Director of Champasak Department of Trade and Industry (sitting, left) signed the memorandum of cooperation in industry and trade. 

Mr. Man Ngoc Ly – Director of Binh Dinh Department of Industry and Trade and Mr. Sombath Senphanxong – Director of Champasak Department of Trade and Industry signed the memorandum of cooperation in industry and trade, period 2016-2021. Accordingly, both departments agreed to exchange information and experience in the state management in the fields of industry, trade, experience to establish, organize and implement the management of general plan, specific plan; experience to establish and put into operation of the Associations of Occupation, etc. Both sides would continue to provide information on potential, business and investment opportunities of the two provinces for both Binh Dinh and Champasak enterprises; sending Binh Dinh enterprise delegations to seek for investment opportunities in Champasak Province and vice versa.

Both sides committed to better knowing and implementing the Bilateral Trade Agreement between the Government of the Socialist Republic of Vietnam and the Government of the People’s Democratic Republic of Laos with the aim of exploiting and promoting the trade potential between the two provinces. Champasak Department of Industry and Trade would create favorable conditions for Binh Dinh enterprises to build Trade Centers and stores selling corrugated irons, steels, plastic pipes, tubes, etc. and create favorable conditions for Binh Dinh enterprises to export petroleum from Vietnam to Laos. Binh Dinh Department of Industry and Trade would create favorable conditions for Champasak enterprise to export agricultural products: coffee, rice, vegetable, etc. from Laos to Vietnam markets.

This is a necessary activity, creating a legal basis, enhancing the cooperation on industry and trade. The memorandum of understanding would also create a premise to boost the investment promotion activities and enlarge the markets for enterprises of both sides.

At the signing ceremony, both departments also evaluated the results of cooperation; simultaneously, mentioned some limitations during the cooperation, period 2011-2015.

Source: baobinhdinh.com.vn