VNA reported that on the morning of January 9, right after arriving in the capital Vientiane, Politburo member and Prime Minister Pham Minh Chinh and Prime Minister of the Lao People's Democratic Republic Sonexay Siphandone co-chaired the 47th meeting of the Vietnam-Laos Intergovernmental Committee.
The two Prime Ministers recognized that the great friendship, special solidarity and comprehensive cooperation between Vietnam and Laos are increasingly developing and deepening, with close trust, playing a core role in guiding the overall relationship between the two countries; supporting and helping each other effectively at international and regional multilateral cooperation forums.
Close defense and security cooperation, effectively maintaining political stability and social order and safety in each country. In 2024, economic, trade and investment cooperation will be focused on, promoted and achieved remarkable results: to date, Vietnamese enterprises have invested in 267 projects in Laos, with a total registered capital of 5.7 billion USD; implemented capital reached about 2.8 billion USD.
Notably, Vietnam's investment in Laos is showing signs of increasing again in a more sustainable direction. In 2024, registered investment capital in Laos was 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. Bilateral trade turnover between Vietnam and Laos in 2024 marked a milestone when the total trade turnover between the two countries exceeded 2.2 billion USD, an increase of 33.9% compared to 2023.
At the meeting, the two sides also reviewed, evaluated the results and discussed, aiming to continue to promote cooperation in various fields, especially for the projects: Vietnam - Laos Friendship Hospital in Laos; Vung Ang Port No. 1, 2, 3 in Vietnam; production, purchase and sale of electricity between the two countries; Hanoi - Vientiane expressway projects, Vientiane - Vung Ang railway; exploitation and processing of potassium mines in Laos; connecting tourism "one journey - three destinations" Vietnam - Laos - Cambodia; promoting the use of national currencies of the two countries; Vietnam - Laos Friendship Park project in Vientiane; building a population management system, citizen identification cards, etc.
On that basis, 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 pillar of defense and security cooperation; and continue to give special priority to education and training cooperation.
The Lao government creates favorable conditions for large, key projects of Vietnamese enterprises...
Vietnam and Laos continue to promote strong growth in trade turnover, striving to continue to promote trade turnover between the two countries in 2025 to increase by 10-15% compared to 2024, aiming to soon reach a turnover of 5 billion USD.
Prime Minister Pham Minh Chinh emphasized that both sides must strive to achieve better results in 2025 than in 2024, in the spirit of "doing what needs to be done, doing what needs to be done", "having said what needs to be done, having committed what needs to be done, having done what needs to be done, having done what needs to be done, having done what needs to be done, having produced specific results"; at the same time, advising and organizing the implementation of the results of the upcoming meeting between the leaders of the three ruling parties of Cambodia - Laos - Vietnam; determined to completely resolve outstanding issues; closely coordinating, searching for and collecting the remains of Vietnamese volunteer soldiers in Laos...
