Co-chairing the Vietnam - Laos Investment Cooperation Conference 2025, Prime Minister Pham Minh Chinh assessed that the special solidarity between Vietnam and Laos is of decisive significance to the cause of national construction and development of each country and called on businesses of the two countries to strengthen cooperation in the spirit of "special relations must have special mechanisms and treatments, from heart to heart".
On the afternoon of January 9, in Vientiane (Laos), Prime Minister Pham Minh Chinh and Lao Prime Minister Sonexay Siphandone co-chaired the Vietnam-Laos Investment Cooperation Conference 2025 with the theme "Promoting sustainable development and prosperity together".
Also attending the conference were Deputy Prime Minister and Minister of Foreign Affairs Bui Thanh Son, leaders of ministries, departments, agencies, and many representatives of businesses and investors from the two countries.
This is the opening event of 2025, conveying the message and determination of the two governments to the business community on improving the practical effectiveness of Vietnam - Laos economic-trade-investment cooperation in 2025 and the next period.
Vietnam - Laos investment cooperation is also an important content that the two Prime Ministers discussed and agreed on at the 47th meeting of the Vietnam - Laos Intergovernmental Committee in the morning of the same day.
At the conference, Minister of Planning and Investment, Chairman of the Laos-Vietnam Cooperation Committee Phet Phomphiphak introduced Laos' investment environment and policies. Minister of Planning and Investment Nguyen Chi Dung, Chairman of the Vietnam-Laos Cooperation Committee, assessed the investment cooperation situation between the two countries and the orientation for 2025.
Representatives of large enterprises from the two countries also presented opportunities and possibilities for cooperation and investment, especially the investment orientation of Vietnamese enterprises in Laos in the coming time, focusing on mineral fields such as potassium salt, bauxite mining and processing, agriculture, aviation, etc.; at the same time, they raised some difficulties, obstacles and made proposals and recommendations.
Mr. Tran Ba Duong, Chairman of the Board of Directors of Truong Hai Group, presented on large-scale agricultural development investment, industrial parks, and logistics centers in Laos; Vietjet Vice President Nguyen Anh Tuan spoke on the master plan for the project to develop the airport system in Laos, aviation investment in Laos, and expansion into other fields such as tourism, etc.
Laos considers applying some special policies to Vietnamese enterprises
Delegates assessed that in recent times, in the context of the world situation having many complex and unpredictable changes, posing many difficulties and challenges, investment and trade cooperation between Vietnam and Laos continued to develop and achieved many positive results.
Vietnam's total registered investment capital to Laos reached over 5.7 billion USD. Laos has always maintained the first position among countries and territories with Vietnam's overseas investment. Vietnam is always in the top 3 countries with the largest direct investment in Laos. In 2024 alone, Vietnam's investment capital to Laos increased by over 62% compared to 2023 (reaching over 191 million USD).
More and more projects of Vietnamese enterprises are operating effectively, contributing positively to the development of Laos in many fields; creating jobs and improving the material and spiritual life of tens of thousands of Lao workers; supplementing revenue for the Lao state budget (an average of about 200 million USD per year, accumulated from 2015 to present reaching about 1.8 billion USD).
Many new investment projects are in line with the orientation of sustainable development, deep processing and creating high added value, having a positive impact on the socio-economic development of Laos such as the Truong Son wind power plant project with an investment capital of 70.7 million USD; the Vinamilk Dairy Company project with an increased capital of 18.8 million USD; the Laos - Vietnam cassava starch processing factory project with an investment capital of 12 million USD...
In 2024, a number of large-scale projects have been accelerated, such as: Potassium salt mine project; Bauxite mining and processing project and construction of alumina factory; Truong Son and Savan1 wind power projects... have created momentum to promote other Vietnamese projects to invest in Laos.
Total trade turnover between the two countries in 2024 is estimated to reach 2.2 billion USD, an impressive increase of 33.9% compared to 2023, of which Laos had a trade surplus of 732.7 million USD with Vietnam. In general, investment by Vietnamese enterprises in Laos has made an important contribution to Laos' export results in 2024.
Besides, many Vietnamese enterprises in Laos have fulfilled their social responsibilities well, actively sponsoring the community (about 180 million USD).
Speaking at the conference, Lao Prime Minister Sonexay Siphandone assessed that recently, many investment projects in various fields of Vietnamese enterprises investing in Laos have been implemented very actively and effectively.
The Lao Prime Minister affirmed that the Lao Government always actively promotes investment by Vietnamese enterprises in sectors and fields that are in line with the plan and prioritize economic development. The Lao Government has considered applying a number of specific policies to encourage Vietnamese enterprises to invest.
The Prime Minister also said that in 2024, Laos's macro economy has gradually stabilized, GDP has achieved a fairly good growth rate (4.6%); exchange rate and inflation are on the decline; trade balance and budget revenue have surpluses; international tourists to Laos have increased... This is an important factor for Laos to better attract resources for development investment and set higher growth targets in the coming time.
The Lao Government is continuing to actively improve the investment and business environment, while implementing major strategies on economic integration and connectivity; sustainable, green development; and digital transformation.
The Lao Prime Minister stated that the two governments have high determination and agree that both sides need to focus on developing transport infrastructure, promoting integration and connectivity, especially promoting projects connecting with Vietnam such as railway, road, and seaport projects in Vung Ang 1, 2, 3; promoting aviation cooperation, etc.
Prime Minister Sonexay Siphandone called on Vietnamese and Lao enterprises to explore cooperation and investment opportunities in various fields, especially promoting cooperation in developing industrial zones to enhance deep processing of Lao raw materials, based on Vietnam’s experience in developing industrial zones such as the Vietnam-Singapore Industrial Park (VSIP). Developing clean energy, wind energy, etc. are also areas that encourage investment.
The Lao Prime Minister noted that businesses investing in Laos need to pay attention to environmental protection, effectively use land, increase the application of modern science and technology, and artificial intelligence (AI) to improve production capacity, contribute to human resource training, and improve vocational skills for Lao workers...
Prime Minister Sonexay Siphandone hopes that both sides will promote the tradition of good cooperation and continue to organize more forums and conferences to promote stronger and more effective economic cooperation, commensurate with the extremely good special relationship between the two countries.
Special relationships require special mechanisms and treatments.
Sharing with delegates, Prime Minister Pham Minh Chinh stated that in 2025, both countries will enter the final year of their respective Party Congresses. In the context of many difficulties and challenges, the regional and world situation is evolving rapidly, complicatedly and unpredictably, and facing many issues of national, comprehensive and global nature, the two countries of Vietnam and Laos, which have a special relationship, must unite even more to deal with emerging issues and continue to build and develop the country.
With the spirit of "biting a grain of rice in half, breaking a vegetable in half", the Party and State of Vietnam always attach importance to and give the highest priority to preserving and developing friendly relations with Laos. "It can be said that the special solidarity between Vietnam and Laos is of decisive significance to the cause of national construction and development of each country," the Prime Minister emphasized.
According to the Prime Minister, Vietnam and Laos are two neighboring countries that are close geographically, "mountains next to mountains, rivers next to rivers", such as Vientiane is closer to Hanoi than Can Tho or Ho Chi Minh City; along with that is the closeness in history, culture and sentiment between the two countries. On the other hand, Vietnam has a market of more than 100 million people, Laos has a market of more than 8 million people. These are favorable conditions, a great advantage for businesses of the two countries to cooperate, produce and do business.
The Prime Minister praised the efforts of businesses of the two countries in recent times, achieving positive cooperation results, contributing to the development of Vietnam and Laos, bringing practical benefits to the people of the two countries. The governments of the two countries have also made great efforts, many problems in long-standing projects in recent years have been resolved.
However, economic cooperation is still not commensurate with the different potentials, outstanding opportunities, and competitive advantages of the two sides. Therefore, agencies and localities need to be more determined, act together more resolutely and actively, remove barriers and bottlenecks in terms of institutions, laws, mechanisms, policies on taxes, procedures, fees, and charges. Along with that, promote the connection of soft infrastructure and transport infrastructure, especially promoting the Hanoi - Vientiane railway projects, the Vung Ang - Vientiane expressway, Vung Ang ports 1, 2, 3, etc.
At the same time, promote supply chain connectivity, business connectivity between the two countries and with third countries, promote the strengths of each side such as Laos has strengths in raw materials, Vietnam has deep processing capacity, and has a wide open export market.
Delegates attending the conference - Photo: VGP/Nhat Bac
Sharing the same opinion with Lao Prime Minister Sonexay Siphandone, Prime Minister Pham Minh Chinh hopes that enterprises that have invested in industrial parks in Vietnam will study and develop Vietnam-Laos industrial parks.
Regarding the recommendations of enterprises, the Prime Minister assessed that they were very close to reality, and suggested that ministries, agencies and localities of the two countries proactively resolve them, in the spirit of cutting procedures, decentralizing and delegating power to localities to complete procedures faster, creating the most favorable conditions for enterprises.
Regarding resources, the Prime Minister proposed to strongly promote the spirit of "resources come from thinking, motivation comes from innovation, strength comes from the people"; renew traditional growth drivers, exploit Laos's strengths such as minerals and energy, and at the same time strongly promote new growth drivers such as digital transformation, green transformation, semiconductor chips, big data, artificial intelligence, internet of things, cloud computing, optoelectronics, biomedicine, clean energy, etc.
The Prime Minister hopes that ministries, localities and businesses of the two countries will share with each other; have high determination, great efforts, drastic actions, focus, and finish each task; value time, intelligence and timely decisiveness, these are the decisive factors for success in cooperation, production, investment and business.
"Special relations must have special mechanisms and treatments, from heart to heart, helping you is helping yourself. What comes from the heart will touch the heart," the Prime Minister sincerely expressed and called on businesses of the two countries to continue to unite, unify, help each other, be persistent, steadfast, determined, and resolute to strengthen investment and business cooperation with all their enthusiasm and capabilities; listen and understand together, share vision and action together, work together, be honest together, enjoy together, develop together, share joy, happiness and pride.
"Vietnamese enterprises investing in Laos are investing in Vietnam; conversely, Lao enterprises producing and doing business in Vietnam are also producing and doing business for Laos. The interests of the two countries are also the interests of our enterprises. Our investment and business are not only about profit but also about sentiment and responsibility, and gratitude to previous generations," the Prime Minister said.
Believing that with that spirit, there is no difficulty that cannot be overcome, the Prime Minister suggested that if businesses have any problems or problems that are prolonged, they should propose to competent authorities to resolve them, not to waste time, opportunities and trust.
On the Vietnamese side, the Government and agencies will review, continue to adjust, handle difficulties, and remove obstacles in institutions, mechanisms, and policies. The Prime Minister hopes that the Lao Government will also promote this spirit, resolving obstacles wherever they are, and resolving them according to the authority of each level, without shirking or avoiding.
The Prime Minister said that business can be good at times and bad at times, but besides calculating profits, the important thing is that everything is for the common development of both countries, bringing strategic, long-term benefits, the core of the two countries is to maintain independence, sovereignty, and the people are increasingly happy and prosperous.
Source: https://baotainguyenmoitruong.vn/thu-tuong-tinh-doan-ket-dac-biet-viet-nam-lao-co-y-nghia-quyet-dinh-385526.html
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