On January 9 in Vientiane, Prime Minister Pham Minh Chinh and Lao Prime Minister Sonexay Siphandone co-chaired the 47th meeting of the Vietnam-Laos Intergovernmental Committee.
Lao Prime Minister Sonexay Siphandone welcomed Prime Minister Pham Minh Chinh to co-chair the 47th meeting of the Vietnam - Laos Intergovernmental Committee - Photo: DOAN BAC
Many optimistic assessments and positive figures were presented at the meeting.
Vietnam's investment in Laos increased by more than 62%
According to the Vietnamese Ministry of Foreign Affairs, the two Prime Ministers expressed their delight at the successful cooperation results in many fields. The relationship between Vietnam and Laos is increasingly close and trustworthy as the two countries' senior leaders regularly exchange and contact each other in many forms. In particular, the two Prime Ministers met 7 times in 2024.
Also in the past year, economic, trade and investment cooperation was focused on, promoted and achieved remarkable results.
Notably, Vietnamese investment in Laos is showing signs of increasing again in a more sustainable direction. In 2024, registered investment capital in Laos will be 191.1 million USD, an increase of 62.1% compared to 2023. Tax contributions and other financial obligations of Vietnamese enterprises to the Lao Government in the past 5 years have averaged about 200 million USD/year.
In the context of the world and regional economic situation continuing to face difficulties and declining consumer demand, bilateral trade turnover between Vietnam and Laos in 2024 still made an impression.
Total trade turnover between the two countries in 2024 will reach 2.2 billion USD, an increase of nearly 34% compared to 2023, of which it is noteworthy that Laos has a trade surplus with Vietnam of about 732.7 million USD (an increase of about 30%). This result is due to the important contribution of Vietnamese enterprises investing and doing business in Laos.
Scene of the 47th meeting of the Vietnam - Laos Intergovernmental Committee on January 9 - Photo: DOAN BAC
Energy cooperation has basically achieved its set goals for the 2021-2025 period, with many large-scale projects in the energy sector being promoted for implementation. Difficulties and obstacles that had lasted for many years in many projects have been resolved.
Cooperation in culture, communications, tourism, internal affairs, justice, etc. has been promoted and enhanced. Among them, the dossier submitted to UNESCO in January 2024 will be completed on time, recognizing Hin Namno National Park (Laos) as a transboundary world natural heritage site, expanding from Phong Nha - Ke Bang World Natural Heritage Site (Vietnam).
The legal framework for bilateral cooperation continues to be improved, with the two sides signing a new Vietnam-Laos Trade Agreement. Cooperation between localities of the two countries, especially in border localities, continues to be effective, contributing to the overall cooperation between the two countries.
Focus on promoting traffic connections, highways
Regarding the focus of cooperation in 2025, the two sides will strengthen promotion, deepen political and diplomatic relations, achieve higher efficiency, and orient the overall Vietnam - Laos cooperation relationship.
At the same time, it will strengthen the connection between the two economies and promote investment and trade cooperation between Vietnam and Laos. Accordingly, meetings will be held between Lao government leaders and the Vietnamese business community as well as review and promote Vietnamese investment projects in Laos and cooperation between businesses of the two countries.
The Lao government creates favorable conditions for large, key projects of Vietnamese enterprises as well as studies to adjust regulations on implementation time in hydropower and mining investment to suit the new situation.
The two sides will promote strong trade growth, striving to increase bilateral trade turnover by 10-15% in 2025 compared to 2024, aiming to soon reach the target of 5 billion USD. Consider agriculture and rural development as one of the pillars of economic cooperation between the two countries. Promote local currency payments in relations between the two countries.
Prime Minister Pham Minh Chinh speaks at the meeting - Photo: DOAN BAC
Special focus on solving difficulties, removing obstacles, promoting the implementation of transport infrastructure connections, researching resource mobilization plans to implement key projects such as the Hanoi - Vientiane expressway and the Vung Ang - Vientiane railway.
Mobilizing both central and local resources, non-refundable aid, preferential loans from development partners and the participation of businesses from both countries. Promoting the early completion of Vung Ang 1, 2, 3 port projects...; contributing to the strong implementation of the strategy of "turning Laos from a landlocked country into a connected country".
Along with that, research, survey and evaluate carefully to report to competent authorities on the possibility of building industrial parks, economic zones, economic models at border gates, and petroleum depots in border areas.
The two sides continue to prioritize and promote quality improvement in cooperation in education - training and human resource development.
The Vietnamese Government continues to provide 1,160 scholarships for Lao officials and students to study in Vietnam; and continues to send teachers to teach Vietnamese in Laos.
Lao Prime Minister Sonexay Siphandone at the meeting - Photo: DOAN BAC
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 the agreements and commitments. They will continue to create maximum convenience for enterprises of the two countries to cooperate in investment, production and business.
Prime Minister Pham Minh Chinh emphasized that ministries, branches and agencies of the two countries should promote the spirit of "doing what needs to be done, doing what needs to be done, saying what needs to be done, doing what needs to be done, producing specific products, the results in 2025 must be higher than in 2024".
Immediately after the meeting, the two Prime Ministers witnessed the signing ceremony and exchange of important cooperation documents between the two countries, including:
- Minutes of the 47th meeting of the Vietnam - Laos Intergovernmental Committee.
- Agreement on cooperation plan between the Lao Government and the Vietnamese Government in 2025.
- Agreement between the two Governments on coal-fired electricity trading.
- Cooperation plan for 2025 between the Ministry of Education and Training of Vietnam and the Ministry of Education and Sports of Laos.
Source: https://tuoitre.vn/viet-nam-se-giup-lao-thanh-quoc-gia-ket-noi-huong-toi-5-ti-usd-thuong-mai-song-phuong-20250109154120521.htm
![[Photo] Prime Minister Pham Minh Chinh chairs Government Conference with localities on economic growth](https://vstatic.vietnam.vn/vietnam/resource/IMAGE/2025/2/21/f34583484f2643a2a2b72168a0d64baa)
Comment (0)