Day: September 14, 2022

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Business School Students in High Demand: Nearly 9 in 10 Landed Jobs Prior to Graduation

Survey finds full-time MBA graduates in North America benefit the most from salary bump while Asia Pacific graduates record the biggest increase in rating of the overall value of degrees

RESTON, Va., Sept. 14, 2022 (GLOBE NEWSWIRE) — Despite market fear of an imminent recession, 86 percent of 2022 business school graduates were employed at the time of graduation, up from 80 percent in 2021, according to a survey report released today by the Graduate Management Admission Council (GMAC). Contributing to the favorable trends are the regional results of graduates who studied in the Asia-Pacific region and Europe. Among graduates of Asia-Pacific business schools, this year 91 percent report being employed at the time of graduation, compared with 78 percent in 2021. Similarly, among European graduates, 90 percent indicate they were employed this year compared with 75 percent last year.

The annual Enrolled Students Survey from GMAC, a global association of leading graduate business schools, aims to better understand current trends in student and recent graduates’ evaluations and outcomes of their graduate management education (GME). Conducted in May-June 2022, this year’s survey explores the views of 1,718 respondents from nearly 300 business schools in 57 countries around the word on their overall GME experience, job search, and compensation in the context of the COVID-19 pandemic.

Globally, the responding graduates of participating schools reported a median percentage increase in total compensation—including base salary and all other compensation—of 29 percent. Notably, among North American school graduates, those who attended full-time MBA programs reported a pre-GME total compensation median of US$80,000, and a post-GME total compensation median of US$120,000—an impressive 50 percent increase.

“With the volatile economic conditions and organizational challenges brought on by the pandemic, well-rounded and prepared business leaders and managers are especially in demand in the current job market,” said Matt Hazenbush, director of research analysis and communications at GMAC and author of the report. “As the survey findings suggest, graduate management education provides students with a powerful leg up for their career.”

Other Key Findings

Most students who set out to make a career change or gain a promotion encounter success

In step with the Great Resignation, students’ top goals and motivations in 2022 were to enrich their lives and make a career change. Among 2022 respondents, a majority who set out to make a career change or get promoted report that they were successful in achieving that goal. Specifically, among those who say making a career change was one of their top three motivations to pursuing GME, 57 percent said they were successful. Success rates for graduates from schools in Latin America/Middle East/Africa (66%) and North America (61%) were slightly higher, though not significantly, than those in Asia Pacific (54%) or Europe (55%), but across world regions a majority successfully made the career change they set out to make. Similarly, 56 percent of graduates who had the goal to gain a promotion were successful.

Social media use in the job search jumps up from last year

Use of social media in the job search—including sites like LinkedIn—increased significantly year-on-year, from 27 to 37 percent, overtaking networking with classmates and alumni (28%) as well as friends and family (35%). The increase in social media use as a job search method was significant among professional MBA (24% in 2021 to 31% in 2022) and business master’s students (23% in 2021 to 40% in 2022). By region, use of social media increased significantly among those who studied in Asia Pacific, Europe, and Latin America/Middle East/Africa, but not in North America.

Students from Asia-Pacific schools rate the overall value of their degree significantly higher in 2022 compared with 2021

Eighty-five percent of respondents rated the overall value of their degree as good to outstanding, up slightly from 82 percent in 2021. By region, students who studied in Asia-Pacific schools reported the largest year-on-year increase in favorable ratings for the overall value of their degree, rising from 75 percent to 86 percent between 2021 and 2022. While both full-time MBA and business master’s students in Asia Pacific had year-on-year increases, the increase was significant among full-time MBA students, rising from 66 percent to 84 percent. Globally, students who attended ranked schools reported similar levels of favorability of the overall value of their degree compared with students who attended non-ranked schools (85%, respectively).

As pandemic restrictions eased, student satisfaction with career and student services improved

Eighty-four percent of 2022 respondents gave career services a favorable review, up from 74 percent in 2021. Also improving were opinions on student services, up to 85 percent favorable from 80 percent in 2021. The improvement in favorability in career and student services was consistent across students of full-time MBA, business master’s, and professional MBA programs, as well as students who studied in Asia Pacific, Europe, Latin America/Middle East/Africa, and North America.

About GMAC

The Graduate Management Admission Council (GMAC) is a mission-driven association of leading graduate business schools worldwide. GMAC provides world-class research, industry conferences, recruiting tools, and assessments for the graduate management education industry, as well as resources, events, and services that help guide candidates through their higher education journey. Owned and administered by GMAC, the Graduate Management Admission Test™ (GMAT™) exam is the most widely used graduate business school assessment.

More than 12 million prospective students a year trust GMAC’s websites, including mba.com, to learn about MBA and business master’s programs, connect with schools around the world, prepare and register for exams and get advice on successfully applying to MBA and business master’s programs. BusinessBecause and The MBA Tour are subsidiaries of GMAC, a global organization with offices in China, India, the United Kingdom, and the United States.

To learn more about our work, please visit www.gmac.com

Media Contact:

Teresa Hsu
Sr. Manager, Media Relations
202-390-4180 (mobile)
thsu@gmac.com

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Dave and Buster’s to Open 11 Units Across KSA, UAE, and Egypt

Announces international franchise partnership with Abdul Mohsen Al Hokair Holding Group

DALLAS, Sept. 14, 2022 (GLOBE NEWSWIRE) — Just a few months after announcing its international expansion plans Dave & Buster’s inks its first multi-country, multi-unit deal.

“We couldn’t be more pleased and excited to announce our Partnership with Abdul Mohsen Al Hokair Holding Group to develop the Dave & Buster’s Brand across key West Asian Markets,” said Antonio Bautista, Chief International Development Officer of Dave & Buster’s.

The Brand will begin its expansion with sites in the Kingdom of Saudi Arabia, followed by the United Arab Emirates and Egypt.

“Dave & Buster’s is a preeminent entertainment brand, and this franchise partnership marks a strategic milestone for our organization as we continue expanding our entertainment and hospitality portfolio across the region,” said Mishal Alhokair, Deputy CEO of Abdul Mohsen Al Hokair Holding Group.

To drive international expansion, Dave & Buster’s has developed key strategic initiatives that uniquely support global market penetration:

  • Customizable footprint to drive box economics in each market as required
  • Menu localization with high regional resonance
  • Proprietary, dynamic pricing model
  • Global marketing programs that are demographically agnostic and locally executable
  • Differentiated and unique amusement strategy and packages
  • Localized entertainment and 3rd day part programming

“With four decades of market leading experience, a seasoned leadership team, and a best-in-class support center infrastructure, Dave & Buster’s is ready to RUN THE FUN for our global partners and guests,” added Antonio Bautista.

For more information on franchising opportunities visit www.daveandbusters.com/franchising or email InternationalDevelopment@daveandbusters.com

About Dave & Buster’s
Founded in 1982 and headquartered in Coppell, Texas, Dave & Buster’s Entertainment, Inc., is the owner and operator of 200 venues in North America that offer premier entertainment and dining experiences to guests through two distinct brands: Dave & Buster’s and Main Event. Dave & Buster’s has 148 stores in 41 states, Puerto Rico, and Canada and offers guests the opportunity to “Eat Drink Play and Watch,” all in one location. Each store offers a full menu of entrées and appetizers, a complete selection of alcoholic and non-alcoholic beverages, and an extensive assortment of entertainment attractions centered around playing games and watching live sports and other televised events. Main Event operates 52 centers in 17 states across the country, and offers state-of-the-art bowling, laser tag, hundreds of arcade games, and virtual reality, making it the perfect place for families to connect and make memories. For more information about each brand, visit www.daveandbusters.com www.mainevent.com

About Abdul Mohsen Al Hokair Holding Group “Believe in what you do & you shall become the master of your craft”
This phrase inspired Sheikh Abdul Mohsen Al Hokair to start his first theme park in Riyadh, which was “an unprecedented leap” in the tourism and entertainment sector, a sector that ran on mere “coincidence.” Here in Abdul Mohsen Al Hokair Holding Group, we turned “the dream” into an organized industry that aspires to be the best locally, regionally, and internationally. Sheikh Abdul Mohsen’s vision began with the need for tourism and entertainment in the Gulf region, which led to the opening of parks, and recreational centers in 1978, making him the Sheikh of Tourism in the Gulf Region. The roots of our companies were based on research and planning and deep consideration for all aspects of success.

Now, many people look to us with deep appreciation and respect. Each of our companies has its own story of success, and together they crowned us as a holding company, an umbrella for all companies and businesses. Holding is the mother and protector of our businesses, which began from the first day of networking that Sheikh Abdul Mohsen started to a glorious road that we hope to continue.

MEDIA CONTACT:
Antonio Bautista
antonio.bautista@daveandbusters.com

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WillScot Mobile Mini Acquires Assets of Portable Storage Provider in Northern California

PHOENIX, Sept. 14, 2022 (GLOBE NEWSWIRE) — WillScot Mobile Mini Holdings Corp. (“WillScot Mobile Mini” or the “Company”) (Nasdaq: WSC), a North American leader in modular space and portable storage solutions, today announced it has acquired the dry rental storage fleet of Container Solutions based in Concord, California. The acquisition adds approximately 1,200 portable storage containers and mobile offices to the WillScot Mobile Mini fleet.

Container Solutions is retaining its rental fleet of refrigerated and temperature-controlled containers, as well as its container sales and modifications business.

Cautionary Statement Regarding Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995 and Section 21E of the Securities Exchange Act of 1934, as amended. The words “estimates,” “expects,” “anticipates,” “believes,” “forecasts,” “plans,” “intends,” “may,” “will,” “should,” “shall,” “outlook” and variations of these words and similar expressions identify forward-looking statements, which are generally not historical in nature. Certain of these forward-looking statements include statements relating value creation, the Company’s share price, and the Company’s future performance. Forward-looking statements are subject to a number of risks, uncertainties, assumptions and other important factors, many of which are outside our control, which could cause actual results or outcomes to differ materially from those discussed in the forward-looking statements. These risks include, without limitation, the risks and uncertainties described in the periodic reports we file with the SEC from time to time (including our Form 10-K for the year ended December 31, 2021), which are available through the SEC’s EDGAR system at www.sec.gov and on our website. Any forward-looking statement speaks only at the date on which it is made, and WillScot Mobile Mini disclaims any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

About WillScot Mobile Mini Holdings Corp.

WillScot Mobile Mini Holdings trades on the Nasdaq stock exchange under the ticker symbol “WSC.” Headquartered in Phoenix, Arizona, the Company is a leading business services provider specializing in innovative flexible mobile office, portable storage and workspace productivity solutions. WillScot Mobile Mini services diverse end markets across all sectors of the economy from a network of about 280 branch locations and additional drop lots throughout the United States, Canada, Mexico, and the United Kingdom.

Media Contact Information

Jessica Taylor

jetaylor@willscotmobilemini.com

Investor Contact Information

Nick Girardi

nick.girardi@willscotmobilemini.com

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Cority Achieves FedRAMP Authorized Designation

Status validates robust security of cloud-based software vendor’s integrated platform

Cority — Empower Better

Cority — Empower Better

ORONTO, Sept. 14, 2022 (GLOBE NEWSWIRE) — The Federal Risk and Authorization Management Program (FedRAMP) made the announcement on Aug. 29, 2022, that Cority achieved FedRAMP Authorized status for its unified environmental, health, and safety (EHS) cloud-based solutions.

“Getting the FedRAMP Authorized classification differentiates us from other cloud-based software vendors and validates the security of the integrated platform that we have to offer,” said Atish Ghosh, Cority’s chief technology officer. “This is testimony from the highest authority that Cority products operate at an unequaled level of excellence when it comes to protecting the critical data of all of our clients, corporate and government organizations alike.”

FedRAMP Authorized status is an important milestone because it enables Cority to provide Software as a Service (SaaS)-based solutions to government and public sector customers, empowering them to use and benefit from the full spectrum of Cority’s premier technology. CorityOne™, the company’s integrated EHS SaaS-based platform, consists of a comprehensive suite of solutions for managing environmental, health, safety, sustainability, and quality programs and provides a scalable and seamless path for future growth. The responsible business platform enables datasets to be combined from across the organization for realizing improved efficiencies, data-driven decision-making, and more accurate reporting. Customers can easily unify all of their EHS initiatives into a single comprehensive platform to uncover key insights and create a single, accurate, and holistic view of EHS performance.

Even before its authorization designation, Cority had already been serving 90 U.S. government and public sector customers, including NASA, Los Alamos National Laboratory, National Institutes of Health (NIH), and the U.S. Food and Drug Administration (FDA) with its award-winning digital solutions. However, prior to the authorization designation, these customers were often restricted from leveraging Cority’s cloud-based offerings, requiring these organizations to significantly invest in hardware and IT resources to manage the setup and ongoing maintenance of the on-premise hosted solutions.

“The inability to take advantage of the value of our SaaS offerings has been a significant barrier for government entities — a drain on time, money, and staff,” said Stuart Cook, Cority’s product marketing manager for Platform and Analytics. “Now, high-security agencies can access Cority’s software knowing that setup, maintenance, and updates are handled by Cority — freeing their internal IT team from the usual cumbersome process of software upgrades.”

Organizations that use SaaS solutions gain efficiency, flexibility, high scalability, and seamless upgrades. According to independent research and consulting firm Verdantix, firms that switched from on-premise hosting to SaaS report lower total cost of ownership and benefit from a more predictable cost structure; improved application availability and reliability; access to mobile applications; and decreased reliance on internal operations.

“We are very excited to see Cority achieve FedRAMP authorization. Within the EHS space, our options for quality software provision have been extremely limited. So, knowing that we can rely on a partner of Cority’s caliber while limiting the burden on our internal Technology & Innovations (T&I) resources is incredibly valuable,” said Angela M. Watkins of Tennessee Valley Authority (TVA), about the authorization.

Demand for EHS software has been rising from government agencies as the role of EHS grows in importance to support strategic initiatives beyond risk and compliance, including sustainability and operational excellence. Now that Cority carries authorization status, executives anticipate interest in its SaaS software to increase even more.

“The potential for growth is high,” Cook said. “FedRAMP opening the door for SaaS expands the market for our sales team. They’re really excited about the prospect of further working alongside government agencies whose efforts impact our planet and our lives.”

Though the U.S. Department of Health and Human Services (HHS) sponsored Cority for ATO status, Cority’s software solutions extend far beyond health. The CorityOne platform spans the full spectrum of environmental, health, safety, sustainability, quality, and analytics for a wide range of industries including aerospace chemicals, manufacturing, pharmaceuticals, construction, and oil and gas.

Established in 2011, FedRAMP is a U.S. government-wide program that provides a standardized, cost-effective approach to security and risk assessment for cloud technologies and services to ensure the protection of federal information.

The agency ATO for Cority will remain in effect for three years, provided Cority continues to meet specified HHS requirements.

Cority is listed on the FedRAMP Marketplace and more information about Cority’s solutions can be found at www.cority.com.

Media Contact: Meredith Schweitzer / mschweitzer@66and.co / 347-698-9196 

About Cority

Cority gives every employee from the field to the board room the power to make a difference, reducing risks and creating a safer, healthier, and more sustainable world. For over 35 years, Cority’s people-first software solutions have been built by EHS and sustainability experts who know the pressures businesses face. Time-tested, scalable, and configurable, CorityOne is the responsible business platform that combines datasets from across the organization to enable improved efficiencies, actionable insights, data-driven decisions, and more accurate reporting on performance. Trusted by over 1,300 organizations worldwide, Cority deeply cares about helping people work toward a better future for everyone. To learn more, visit www.cority.com.

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Sabin Receives Additional $21.8 Million From BARDA to Advance Marburg Vaccine

WASHINGTON, Sept. 14, 2022 (GLOBE NEWSWIRE) — The Sabin Vaccine Institute today announced it is receiving an additional $21.8 million under an existing contract with the Biomedical Advanced Research and Development Authority (BARDA), part of the Administration for Strategic Preparedness and Response at the U.S. Department of Health and Human Services. These funds advance development of a vaccine against Marburg virus disease, a virus that is related to Ebola Zaire which killed 2200 people during the last major outbreak that ended in 2020.

The Sabin Marburg vaccine is the only candidate currently slated for a Phase 2 clinical trial. Marburg is among the world’s deadliest viruses, resulting in the death of approximately half the people the virus infects. Currently, there are no approved vaccines or treatments for the disease. As recently as July this year, two people in Ghana died after being infected with Marburg virus, reinforcing the urgent need for medical therapies.

The latest tranche of funds enables Sabin to conduct a randomized, blinded, placebo-controlled clinical trial among adults in the U.S. to further evaluate the safety and the efficacy of the Marburg vaccine candidate and advance non-clinical vaccine dosing studies. The Phase 2 clinical trial in the U.S. will begin after Sabin has initiated a same-stage trial in Africa, currently scheduled for 2023. Sabin will also undertake a non-clinical study on the vaccine candidate during this phase.

“Beginning Phase 2 clinical trials for the Marburg vaccine is a pivotal milestone for us and we appreciate BARDA’s continued confidence in our work and support for this critical next step,” says Sabin Chief Executive Officer Amy Finan. “Vaccines remain our best bet against death and disability from deadly viruses. I am hopeful that in the years ahead, we can offer this life-saving vaccine to every person who needs it.”

In 2019, BARDA awarded Sabin a multi-year contract valued at $128 million to further the development of vaccines against two lethal viruses: Marburg and Ebola Sudan. With BARDA now exercising the latest option of that contract, Sabin’s Ebola and Marburg Research & Development program, to date, has been awarded $98.6 million.

BARDA is part of the Administration for Strategic Preparedness and Response within the U.S. Department of Health and Human Services. This project has been funded in whole or in part with federal funds from the Department of Health and Human Services; Administration for Strategic Preparedness and Response; Biomedical Advanced Research and Development Authority, under contract number 75A50119C000555.

Learn more about Sabin’s Marburg and Ebola Sudan Program.

About the Sabin Vaccine Institute

The Sabin Vaccine Institute is a leading advocate for expanding vaccine access and uptake globally, advancing vaccine research and development, and amplifying vaccine knowledge and innovation. Unlocking the potential of vaccines through partnership, Sabin has built a robust ecosystem of funders, innovators, implementers, practitioners, policy makers and public stakeholders to advance its vision of a future free from preventable diseases. As a non-profit with more than two decades of experience, Sabin is committed to finding solutions that last and extending the full benefits of vaccines to all people, regardless of who they are or where they live. At Sabin, we believe in the power of vaccines to change the world. For more information, visit www.sabin.org and follow us on Twitter, @SabinVaccine.

About Ebola Sudan and Marburg

Ebola Sudan and Marburg are members of the filovirus family. Both can cause severe hemorrhagic fever in humans and nonhuman primates. No therapeutic treatment of the hemorrhagic fevers caused by filoviruses has been licensed to date. Marburg and Ebola viruses are transmitted to humans by infected animals, particularly fruit bats. Once a human is infected, the virus can spread to others through close personal contact or contact with bodily fluids. Isolation of infected people is currently the centerpiece of filovirus control.

Marburg was the first filovirus to be recognized in 1967 when outbreaks of hemorrhagic fever were reported in a few Europe-based laboratories including in the town of Marburg, Germany. Ebola was identified in 1976 when two simultaneous outbreaks occurred in northern Zaire (now the DRC) in a village near the Ebola River and southern Sudan. The outbreaks involved what eventually proved to be two different species of Ebola virus; both were named after the nations in which they were discovered.

Media contact:

Rajee Suri
press@sabin.org

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Cambodian top legislator wraps up visit to Vietnam

President of the Cambodian National Assembly (NA) Samdech Heng Samrin on September 14 concluded his three-day official visit to Vietnam at the invitation of his Vietnamese counterpart Vuong Dinh Hue.

The trip was a key diplomatic activity between the two NAs in the Vietnam-Cambodia friendship year 2022 and in celebration of the 55th founding anniversary of the Vietnam-Cambodia diplomatic relations (June 24, 1967-2022).

NA Chairman Hue held talks with Heng Samrin and chaired a banquet for him on September 12.

The Cambodian NA leader also met with Party General Secretary Nguyen Phu Trong, President Nguyen Xuan Phuc, and Prime Minister Pham Minh Chinh during his stay.

At those meetings, the sides agreed to maintain delegation exchanges at all levels and people-to-people exchange; and effectively implement signed protocols and national defence-security cooperation plans.

They reached consensus on effective cooperation in border security, preventing crimes and illegal entry and exit, and building a border of peace, friendship and solidarity.

Party General Secretary Nguyen Phu Trong (3rd from right), President of the Cambodian National Assembly Samdech Heng Samrin (4th from right) and other delegates in a group photo (Photo: VNA)

Stressing the robust growth of the nations’ traditional and close relations, Vietnamese leaders affirmed that the Vietnamese Party State, and people always support Cambodia’s national construction and development causes; as well as back Cambodia’s chairmanships of ASEAN and AIPA this year.

They proposed that Vietnam and Cambodia join other ASEAN members in maintaining intra-bloc solidarity and ASEAN’s centrality in regional issues, particularly the East Sea.

They also asked the Cambodian parliament and government to further assist Cambodians of Vietnamese origin in their integration into Cambodia’s society and to facilitate Vietnamese firms’ investment and operation in the country.

Source: Vietnam News Agency

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PM emphasises importance of planning work

Prime Minister Pham Minh Chinh emphasised the importance of planning work at a meeting of an evaluation council for the national master plan in 2021-2030 with a vision to 2050 in Hanoi on September 14.

He noted that this is the first ever national master plan which concretises the orientations outlined by the 13th National Party Congress and other documents of the Party Central Committee.

Therefore, the master plan must clearly identify the country’s distinctive potential, opportunities and competitive edges, thus working out suitable solutions to optimize all resources, the Government leader said.

He also underlined the feasibility of the master plan, adding that for the reason, the evaluation of the draft master plan is all the more important.

The evaluation council for the national master plan in 2021-2030 with a vision to 2050, was set up under the PM’s Decision 965/QD-TTg with Deputy Prime Minister Le Van Thanh as its chairman.

The national master plan is the first of its kind, drafted in accordance with the 2017 Planning Law. It is expected to concretise the national strategy for socio-economic development in 2021-2030.

Minister of Planning and Investment Nguyen Chi Dung said during the drafting process, the ministry has coordinated with the World Bank to hold numerous discussions with the participation of domestic and international experts. The draft has also been published on the ministry’s portal for public feedback.

Source: Vietnam News Agency

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Lao leaders welcome visiting defence minister of Việt Nam

Minister of National Defence Gen. Phan Văn Giang met with General Secretary of the Lao People’s Revolutionary Party and President of Laos Thongloun Sisoulith and the country’s Prime Minister Phankham Viphavanh in Vientiane on Tuesday.

Giang told the Lao leaders that Việt Nam always treasures and exerts efforts to maintain and build on its special and faithful relationship with Laos, which is vital to each country’s political regime.

He thanked the Party, Government, people, and defence ministry of Laos for creating favourable conditions for the search for and repatriation of remains of Việt Nam’s volunteer soldiers and experts killed in Laos.

The minister also expressed his hope that the Lao Party, Government, and National Assembly will continue providing mechanism and policy support for Vietnamese enterprises, including military firms, to operate in such fields as telecommunications, information technology, digital transformation, and construction.

The two Lao leaders said that Giang’s selection of Laos as the first country to visit as Defence Minister of Việt Nam reflected the particularly close bonds between the two countries and the two armies.

Earlier the same day, Giang and his Lao counterpart Chansamone Chanyalath held talks, during which they discussed international and regional issues of common concern, reviewed cooperation outcomes in the recent past, and suggested cooperation orientations for the future.

They expressed support for intensifying ties among the armies of Laos, Việt Nam and Cambodia, including maintaining the annual meeting of the three countries’ defence ministers and supporting each other at multilateral events hosted by each of them. They agreed to study joint activities in different forms among the countries’ armies.

Cooperation

Counsellor and Deputy Ambassador of Laos to Việt Nam Chanthaphone Khammanichanh told the Vietnam News Agency that Việt Nam and Laos have achieved much from their cooperation, playing a significant part in sustaining political stability and socio-economic development in each country.

The Lao diplomat highlighted the special bilateral ties which have produced practical results in all areas, from politics, national defence and security, to foreign affairs and economy, culture, science and technology, healthcare, and education and training.

The achievements have benefited citizens of the two countries, strengthened their special relations, and heightened the role of the two Parties and States, contributing to global peace, stability, cooperation and development.

He went on to mention Việt Nam as one of the biggest foreign investors in Laos, with some US$5.4 billion in FDI mostly in hydropower, mining, agriculture, and tourism. Vietnamese businesses not only operate for profit but also build social infrastructure to improve local people’s living conditions such as schools, hospitals and irrigation works.

Last year, two-way trade hit about $1.3 billion, a year-on-year increase of 33.8 per cent, despite the impacts of the severe COVID-19 resurgence, he said, adding that Laos increased exports of its key agricultural products such as rice, coffee, rubber, bananas, sugar and watermelons to Việt Nam.

According to the deputy ambassador, the two countries are working together to boost cross-border transport connectivity. They plan to develop a highway connecting the two capitals – Hà Nội and Vientiane – viewed as an artery of friendship and a gateway to the region and the world for sustainable development. An East-West Corridor is also being developed to boost tourism growth.

Source: Vietnam News Agency