That was one of the contents of the official talks on the morning of August 4, 2025 between Minister of Industry and Trade Nguyen Hong Dien and Minister of Industry and Trade of Laos Malaithong Kommasith.
In his opening speech, Minister Nguyen Hong Dien congratulated the merger of the Ministry of Industry and Trade and the Ministry of Energy and Mines of Laos into the new Ministry of Industry and Trade - an important step to improve the effectiveness of state management and strengthen the combined strength in planning and implementing national industrial and trade development policies.
Minister Nguyen Hong Dien highly appreciated the results of bilateral trade cooperation in recent times. In 2024, two-way trade turnover will reach 2.25 billion USD, up 38.2% compared to 2023 - the first time exceeding the 2 billion USD mark. In the first 6 months of 2025 alone, turnover reached 1.78 billion USD, up 92.2% over the same period last year. Laos continues to export to Vietnam, showing that Laos' production and export capacity is constantly improving.
The two Ministers also welcomed the results of cooperation in the field of trade promotion and business connectivity. Notable among them is the Vietnam - Laos Trade Fair 2025 held in July in Vientiane with a scale of 250 booths, attracting a large number of businesses from both countries to participate.
Regarding the upcoming cooperation orientation, Minister Nguyen Hong Dien suggested that the Lao side increase information on market demand, import-export goods portfolio and business units to help Vietnam effectively connect with major importers and distribution systems in Vietnam.
Develop a comprehensive plan for power projects expected to be sold to Vietnam, instead of proposing individual small projects, to help Vietnam have a basis to build a comprehensive power import strategy in harmony with the national energy development plan.
Coordinate to promote the implementation of the contents of the Electricity and Coal Purchase Agreement between the two governments signed on January 9, 2025 and the Amended Protocol signed on July 9, 2025. Organize the 13th Vietnam - Laos Border Trade Development Cooperation Conference in Thanh Hoa in the fourth quarter of 2025 to summarize the achieved results and discuss measures to remove obstacles and promote border trade.
The two Ministers also discussed frankly and openly a number of cooperation proposals from Laos. In particular, Laos proposed that Vietnam share experiences in reforming, managing state-owned enterprises, the public-private partnership (PPP) model and equitizing enterprises. Consider removing difficulties for businesses related to sugar exports from Laos to Vietnam according to the Vietnam - Laos Trade Agreement in 2015 in the period of 2021 - 2022. Cooperate to build a petroleum warehouse and a joint industrial - economic zone of Vietnam - Laos.
Regarding these proposals, Minister Nguyen Hong Dien affirmed the spirit of cooperation, readiness to closely coordinate and exchanged specifically through technical units of both sides, ensuring compliance with legal regulations and balancing the interests of both sides.
The two Ministers agreed that Minister Malaithong Kommasith's visit and work in Vietnam this time is an important milestone opening a new, more substantial, effective and sustainable phase of cooperation between the two Ministries and the two countries. The two sides continue to maintain delegation exchanges, strengthen connections between functional units, and create a solid foundation to develop the Vietnam - Laos economic - trade - energy relationship to new heights.
