NTO - Prime Minister Pham Minh Chinh and Prime Minister Sonexay Siphandone co-chaired the meeting of the Vietnam Intergovernmental Committee.

On the morning of January 7, at the Government Office, Prime Minister Pham Minh Chinh and Lao Prime Minister Sonexay Siphandone co-chaired the 46th meeting of the Vietnam - Laos Intergovernmental Committee on Bilateral Cooperation.

The meeting focused on discussing and agreeing on the contents of evaluating the implementation results in the past year, especially the issues that have been completely resolved by both sides, the remaining work, the handling direction as well as new tasks and directions in 2024.

Prime Minister Pham Minh Chinh and Prime Minister Sonexay Siphandone emphasized that, in the context of many difficulties and challenges, thanks to the thorough understanding of the direction of the two Politburoes, together with the great efforts and determination of the State, Government, ministries, sectors and localities, the two countries have seriously and effectively implemented high-level agreements, bringing about many achievements in cooperation in various fields, many outstanding and noteworthy results, contributing to jointly building an independent, self-reliant economy, deeply integrated into the international community, practically and effectively.

Prime Minister Pham Minh Chinh and Lao Prime Minister Sonexay Siphandone witnessed the signing of the minutes of the 46th Session. Photo: Duong Giang/VNA

Political relations are increasingly trustworthy and close, playing a core role in guiding the overall relationship between the two countries. The Intergovernmental Committee, chaired by the two Ministers of Planning and Investment, continues to promote effectiveness and promote the implementation of cooperation agreements in all fields. In 2023, the two sides made efforts to complete 13 groups of tasks set out at the 45th Session of the Intergovernmental Committee on Vietnam - Laos Bilateral Cooperation.

Close defense and security cooperation, effectively maintaining political stability and social order and safety in each country; building a peaceful, stable, friendly, cooperative and comprehensively developed Vietnam-Laos border; effectively preventing and combating all types of crime, especially transnational crime.

Ministries and agencies of both sides actively and proactively exchanged and shared experiences in macroeconomic management and building an independent and self-reliant economy in the context of international integration. Economic, trade and investment cooperation has been given attention and promoted. Currently, there are 245 projects granted valid investment certificates to Laos, with a total registered investment capital of about 5.5 billion USD.

In 2023, Vietnam's investment capital in Laos will be 116.6 million USD, an increase of 65.3% compared to 2022. The accumulated realized capital will reach about 2.75 billion USD. Enterprises have contributed about 200 million USD/year in taxes and other financial obligations in the past 5 years; accumulated from 2015 to present, about 1.7 billion USD; contributed 150 million USD to social security work.

On the other hand, Laos currently has 18 investment projects being implemented stably in Vietnam with a total registered capital of over 110 million USD. Lao enterprises are facilitated by Vietnamese authorities in the investment and business process.

In the context of the world and regional economic situation continuing to face difficulties and declining consumer demand, in 2023, the total bilateral trade turnover reached about 1.6 billion USD, a slight decrease of 2.1% compared to the same period in 2022, but the import value from Laos increased by 4.2%. Cooperation in electricity purchase and sale continued to be promoted, Vietnam's import of electricity from Laos basically achieved the target set for the period of 2021-2025. EVN has signed 19 power purchase agreements (PPAs) with investors to purchase electricity from 26 hydropower plants invested in Laos with a total capacity of 2,689 MW.

Prime Minister Pham Minh Chinh and Lao Prime Minister Sonexay Siphandone witnessed the signing of the minutes of the 46th Session. Photo: Duong Giang/VNA

Thanks to the Government's strong direction and the participation of ministries, branches and localities of the two countries, difficulties and obstacles that have existed for many years in a number of key projects have been promptly and completely resolved.

The two sides have inaugurated, handed over and put into operation Nong Khang airport since May 2023; found a direction to report to competent authorities for consideration and decision on Vinachem's potash salt project; completed the issue of overlapping concession areas at Thaco Group's agricultural project and at Viet Phuong Group's bauxite mining and alumina processing project; completed negotiations and agreements on electricity purchase and sale prices from Xekaman 3 hydropower plant...

Cooperation between localities of the two countries, especially in border localities, continues to be effective, contributing to the overall cooperation between the two countries. The two sides support and help each other effectively in international and regional multilateral cooperation forums; actively coordinate closely, and best prepare for Laos to successfully assume the role of ASEAN Chair 2024.

Regarding the focus of cooperation in 2024, the two sides agreed to continue to concretize and effectively implement the agreement between the two Politburoes of Vietnam and Laos and the results of the meeting of the heads of the three parties between General Secretary Nguyen Phu Trong, General Secretary and President of Laos Thongloun Sisoulith and President of the Cambodian People's Party Hun Sen; focus on implementing the Joint Statements and agreements signed at the 46th Session.

The two sides will strengthen and deepen political and diplomatic relations, achieve greater efficiency, and orient the overall Vietnam-Laos cooperation relationship; maintain and improve the effectiveness of cooperation mechanisms; effectively organize visits, meetings, and contacts between high-ranking leaders in many flexible forms; improve and enhance the practicality and effectiveness of cooperation at all levels, sectors, and localities. Continue to cooperate closely in defense and security; build a peaceful, stable, cooperative, and comprehensively developed Vietnam-Laos border.

The two sides agreed to increase information exchange, share experiences in macroeconomic management, build an independent and self-reliant economy in the context of deep, substantive and effective integration; strengthen connectivity between the two economies, promote Vietnam-Laos investment and trade cooperation. Organize dialogues well between Vietnamese enterprises and Lao authorities; focus on resolving outstanding issues, difficulties and obstacles in cooperation and investment projects.

The Lao government creates favorable conditions for large, key projects of Vietnamese enterprises; studies and adjusts regulations on implementation time in hydropower and mining investment to suit the new situation. Promotes strong growth in trade turnover, striving to continue increasing trade turnover between the two countries in 2024 by 10-15% compared to 2023.

Focus on solving difficulties, promoting the implementation of transport infrastructure connection, researching new thinking and new ways of implementing transport connection between the two countries, mobilizing resources, and increasing the search for investors interested in the Vung Ang - Vientiane railway project and the Hanoi - Vientiane expressway. Consider agriculture and rural development as one of the pillars of economic cooperation between the two countries.

The 46th meeting of the Vietnam-Laos Intergovernmental Committee on Bilateral Cooperation. Photo: Duong Giang/VNA

The two sides continue to prioritize and promote the improvement of quality in cooperation in education - training and human resource development; the Vietnamese Government continues to provide 1,120 scholarships for Lao officials and students to study in Vietnam; and continues to send teachers to teach Vietnamese in Laos.

The two sides agreed to implement solutions to promote tourism connectivity between the two countries and the three countries of Vietnam - Laos - Cambodia "One journey, Three destinations". Ministries, branches and localities continue to promote effective and substantive exchanges and cooperation in all fields. Pay attention to propaganda work about the great friendship and special solidarity between Vietnam and Laos to all classes of people, including the young generation.

The two governments, ministries and agencies will continue to closely coordinate and support each other at multilateral and regional forums. Vietnam will actively and effectively support Laos to successfully assume the role of ASEAN Chair in 2024, AIPA 45 and other high-level conferences.

Concluding the meeting, the two Prime Ministers emphasized that they will resolutely focus on directing relevant ministries, branches, localities, enterprises and units to closely coordinate and effectively implement agreements and commitments, and continue to create maximum convenience for enterprises of the two countries to cooperate in investment, production and business. The two sides believe that the success of the meeting will create new momentum to help the cooperation between the two countries develop further, in depth, substantially, reliably and effectively, contributing to continuously strengthening the great friendship, special solidarity and comprehensive cooperation between Vietnam and Laos in the coming time.

According to VNA/Tin Tuc Newspaper

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