On the morning of January 7, at the Government headquarters, Prime Minister Pham Minh Chinh and Lao Prime Minister Sonexay Siphandone co-chaired the 46th meeting of the Intergovernmental Committee on Vietnam - Laos bilateral cooperation.
The two Prime Ministers chaired the 46th meeting of the Vietnam-Laos Intergovernmental Committee on bilateral cooperation right after the Vietnam-Laos Investment Cooperation Conference ended.
Prime Minister Pham Minh Chinh and Prime Minister Sonexay Siphandone emphasized that despite many difficulties and challenges, the two countries have seriously and effectively implemented high-level agreements, bringing about many achievements in cooperation in various fields.
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 meeting of the Intergovernmental Committee on Vietnam - Laos Bilateral Cooperation.
There are currently 245 projects with valid investment certificates in 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.
In contrast, Laos currently has 18 investment projects being stably implemented in Vietnam with a total registered capital of over 110 million USD.
In 2023, total bilateral trade turnover will reach about 1.6 billion USD, down slightly by 2.1% over the same period in 2022, but import value from Laos will increase by 4.2%.
46th Session of the Intergovernmental Committee on Vietnam - Laos Bilateral Cooperation
The two Prime Ministers also assessed that cooperation in electricity trading continued to be promoted, and Vietnam's import of electricity from Laos basically achieved the set target for the 2021-2025 period. EVN 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.
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 alumine processing project; completed negotiations and agreements on electricity purchase and sale prices from Xekaman 3 Hydropower Plant...
Promoting Vietnam - Laos investment and trade cooperation
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; focusing on implementing well the joint statements and agreements signed at the 46th session.
Prime Minister Pham Minh Chinh speaks at the meeting
The two sides will strengthen and deepen political and diplomatic relations, achieve greater efficiency, and orient the overall Vietnam-Laos cooperation relationship; 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, and promote Vietnam-Laos investment and trade cooperation.
Organize dialogues 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 and 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.
Lao Prime Minister Sonexay Siphandone speaks at the meeting
The two sides continue to prioritize and promote the improvement of quality in education-training cooperation 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, 3 destinations". Ministries, sectors and localities continue to promote effective and substantive exchanges and cooperation in all fields.
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 businesses of the two countries to cooperate in investment, production and business.
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