Speaking at the Vietnam - Laos Investment Cooperation Conference 2025 with the theme "Promoting Sustainable Development and Prosperity" held on January 9 in Vientiane (Laos), Minister of Planning and Investment Nguyen Chi Dung said that in 2024, economic, investment and trade cooperation between the two countries will be focused on, promoted, focusing on handling long-standing difficulties and obstacles and achieving many important results.
As a result, Vietnam's investment in Laos is showing a more sustainable upward trend. In 2024, registered investment capital in Laos will be 191.1 million USD, an increase of 62.1% compared to 2023, focusing on the following areas: Clean energy, high-tech agriculture, mineral exploitation, deep processing...
Up to now, Vietnam has invested in 267 projects in Laos, with a total investment capital of 5.7 billion USD, focusing on the following fields: Energy, mining, agriculture and forestry, food production and processing, telecommunications, banking, tourism... Vietnamese enterprises have invested in 17/18 provinces and cities of Laos.
Regarding trade, 2024 marked a milestone when the total trade turnover between the two countries reached 2.2 billion USD, an increase of 33.9% compared to 2023, especially Laos had a trade surplus of 732.7 million USD with Vietnam, of which, there was a large contribution from Vietnamese enterprises investing and doing business in Laos.
According to Minister Nguyen Chi Dung, in addition to the achievements, economic and investment activities between the two countries in recent times still have some shortcomings, limitations and barriers that need to be removed soon.
For example, economic, investment and trade cooperation is not yet commensurate with the good political relations and potential of the two countries; Some large-scale, strategic projects, especially transport projects connecting the two countries, are slow to be implemented due to difficulties in mechanisms, policies and capital sources...
Minister Nguyen Chi Dung affirmed that 2025 is a breakthrough year to successfully implement the contents set out in the bilateral cooperation agreement for the 2021-2025 period; at the same time, it is also the year to build a new cooperation orientation for the new development period.
Regarding the fields of economics, investment and trade, Minister Nguyen Chi Dung proposed a number of key orientations that need to be implemented in the coming time as follows:
Firstly, we must firmly maintain a consistent viewpoint: The more difficult it is, the more we must unite, bond, and be strong to share experiences in macroeconomic stability, sustainable development, and improving the business environment; experiences in building and perfecting laws and policies; experiences in attracting resources, promoting investment cooperation and development in the spirit of: Cooperation to "Promote sustainable development and prosperity", "Win-win", "Harmonious benefits, shared risks".
Second, promote investment and trade cooperation.
Third, businesses need to proactively and actively participate in the plan to connect the two economies and the process of helping Laos have its own sea and port, connecting the road and railway systems to open up international integration, and develop an independent and self-reliant economy.
Fourth, to make a breakthrough in attracting investment resources, Lao agencies need to prioritize: Having synchronous solutions to stabilize the macro economy, a prerequisite to attract investment from the private economic sector and foreign investment. Completing policies related to investment, tax, trade, labor rate, credit policy...
"With the great friendship, special solidarity and comprehensive cooperation between Vietnam and Laos, Laos and Vietnam, combined with a new cooperative mindset and drastic, breakthrough measures from both sides, it will certainly open up many large and highly effective investment cooperation opportunities between businesses of the two countries and bring the Vietnam - Laos investment cooperation relationship to a new height," Minister Nguyen Chi Dung affirmed.
