Numerous Vietnamese projects in various sectors have effectively contributed to Laos' development, creating jobs and improving the livelihoods of tens of thousands of local workers.

The Ministry of Planning and Investment has proposed the setting up of an Investment Support Fund, financed annually by the state budget, to provide direct cash support to eligible businesses.

Manufacturing continues to be the main sector attracting FDI into Vietnam.

The elevation of the US-Vietnam relationship to a comprehensive strategic partnership signifies a deeper commitment to further boost trade and economic ties would lead to an increasing share of US investment soon.

With FDI accounting for more than 70% of exports, Vietnam has successfully transformed over time into an export-driven and FDI-reliant economy.

The move would help create a driving force for economic growth across the three pillars of investment, exports and consumption.

The country's policies to support growth would help Vietnam counter the global headwinds in 2023 and maintain a high growth rate.