View of the 47th meeting of the Vietnam-Laos Intergovernmental Committee on Bilateral Cooperation. (Photo: THANH GIANG)

Attending the meeting were Minister of Planning and Investment Nguyen Chi Dung, Chairman of the Vietnam-Laos Cooperation Committee; Minister of Planning and Investment, Chairman of the Laos-Vietnam Cooperation Committee Phet Phomphiphak, along with many ministers, leaders of ministries, branches, localities and businesses of the two countries.

At the Session, Lao Prime Minister Sonexay Siphandone warmly welcomed Prime Minister Pham Minh Chinh and the high-ranking Vietnamese delegation to visit and attend the Session.

Prime Minister Pham Minh Chinh thanked Prime Minister Sonexay Siphandone and the Lao Government for their warm, thoughtful, and fraternal reception for the Vietnamese delegation; emphasizing that in the context of many difficulties and challenges, thanks to the thorough understanding of the two Politburo 's instructions, together with the great efforts and determination of the State, Government, ministries, departments, branches and localities, the two countries have seriously and effectively implemented the High-level Agreements, bringing about many achievements in cooperation between the two countries, contributing to jointly building an independent, self-reliant economy, with deep, substantial and effective international integration, with many remarkable results.

The two Prime Ministers expressed their delight at the successful results of cooperation in many fields such as: the great friendship, special solidarity and comprehensive cooperation between Vietnam and Laos has been increasingly developing and deepening, with close trust, playing a core role, guiding the overall relationship between the two countries; supporting and helping each other effectively at international and regional multilateral cooperation forums; the Intergovernmental Committee, chaired by the two Ministers of Planning and Investment, continues to promote effectiveness, promoting the implementation of cooperation agreements in all fields.

Prime Minister Pham Minh Chinh and the Vietnamese high-ranking delegation attended the meeting. (Photo: THANH GIANG)

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 all types of crime, especially transnational crime.

In 2024, economic, trade and investment cooperation will be focused on, promoted, and achieve remarkable results: To date, Vietnamese enterprises have invested in 267 projects in Laos, with a total registered capital of 5.7 billion USD; realized capital reached about 2.8 billion USD. Notably, Vietnam's investment in Laos is showing a tendency to increase 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 marked a milestone when the total trade turnover of the two countries exceeded 2.2 billion USD, an increase of 33.9% compared to 2023, in which it is noteworthy that Laos had a trade surplus with Vietnam of about 732.7 million USD. Achieving this result is due to the important contribution of Vietnamese enterprises investing and doing business in Laos.

Regarding the focus of cooperation in 2025: The two sides agreed to focus on implementing the Joint Statements and Agreements signed at the 47th Session; propose many strong and practical measures to continue deepening the political and diplomatic relations between the two countries; strengthen the pillars of defense and security cooperation; continue to give special priority to education and training cooperation; regarding economic cooperation, the two sides focus on the following main contents:

Lao Prime Minister Sonexay Siphandone speaks at the meeting. (Photo: THANH GIANG)

Firstly, to promote and deepen political and diplomatic relations, achieving greater efficiency, and orienting the overall Vietnam-Laos cooperation relationship; maintaining and improving the effectiveness of cooperation mechanisms; effectively organizing visits, meetings and contacts between high-ranking leaders in many flexible forms; improving and enhancing the practicality and effectiveness of cooperation at all levels, sectors and localities.

Second is to continue close cooperation in defense and security; build a peaceful, stable, cooperative and comprehensively developed Vietnam-Laos border.

Prime Minister Pham Minh Chinh speaks at the meeting. (Photo: THANH GIANG)

Third is to strengthen the connection between the two economies, promote Vietnam-Laos investment and trade cooperation: organize meetings between Lao Government leaders and the Vietnamese business community; organize inspections and reviews of Vietnamese investment projects in Laos. The Lao Government needs to create favorable and preferential conditions for large and key projects of Vietnamese enterprises; study and adjust regulations on implementation time in hydropower and mining investment in accordance with the new situation; Promote strong growth in trade turnover, strive to continue to promote an increase in trade turnover between the two countries in 2025 by 10-15% compared to 2024; Focus on solving difficulties, promoting the implementation of transport infrastructure connections; Consider agriculture and rural development one of the pillars of economic cooperation between the two countries.

Fourth, continue to prioritize and promote the improvement of quality in cooperation in education and training and human resource development; the Vietnamese Government continues to provide 1,160 scholarships for Lao officials and students to study in Vietnam; and continue to send teachers to teach Vietnamese in Laos.

Concluding the Session, 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 Commitment Agreements, in which they will 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 Session will create new momentum to help the cooperation between the two countries develop further, go into depth, substance, trust and efficiency, contributing to constantly strengthening the great friendship, special solidarity and comprehensive cooperation between Vietnam and Laos in the coming time.

* Immediately after the Session, the two Prime Ministers witnessed the signing ceremony and exchange of important cooperation documents between the two countries, including: Minutes of the 47th Session; Agreement on the Cooperation Plan between the Lao Government and the Vietnamese Government in 2025; Agreement between the two Governments on coal-fired power purchase and sale; Cooperation Plan in 2025 between the Vietnamese Ministry of Education and Training and the Lao Ministry of Education and Sports.

According to nhandan.vn