On the basis of good political cooperation, economic, trade and investment cooperation has always been a bright spot in the special cooperation relationship between Vietnam and Laos, in which the two sides have actively and effectively implemented cooperation agreements between the two governments and contents at meetings of the Intergovernmental Committee.

On the morning of June 28, the official welcome ceremony for Party General Secretary and President Thongloun Sisoulith and a high-ranking delegation of the Party and State of Laos was solemnly held at the Presidential Palace according to the highest ritual for heads of state. President Nguyen Xuan Phuc and his wife presided over the welcoming ceremony.

On the morning of June 28, General Secretary and President of the Laos PDR Thongloun Sisoulith and his wife and high-ranking delegation of the Lao Party and State arrived in Hanoi, starting an official friendship visit to Vietnam at the invitation of General Secretary Nguyen Phu Trong and his wife, State President Nguyen Xuan Phuc and his wife

This is the first foreign visit of Comrade Thongloun Sisoulith as General Secretary and President of Laos for the 2021-2026 term. The visit contributes to affirming the consistent foreign policy of both countries, especially attaching importance to preserving and constantly developing the great friendship, special solidarity and comprehensive cooperation between Vietnam and Laos.

The Vietnam-Laos cooperation relationship has been continuously consolidated and cultivated by generations of senior leaders of the two countries; The two sides regularly exchange high-level delegations, and the visit of Comrade Thongloun Sisoulith as General Secretary and President of Laos for the 2021-2026 term is a clear demonstration of the special friendship and cooperation. This is the difference between Vietnam and Laos.

The special and comprehensive friendship and solidarity relationship between Vietnam and Laos over the past time have continued to be consolidated and developed, becoming more and more in-depth, practical and effective in all fields, making an important contribution to preserving political stability, socio-economic development, and ensuring national defense and security in each country; at the same time contribute to raising the position of the two parties and two countries; actively contribute to peace, stability, cooperation and development in the region and in the world.

The two sides have effectively implemented the agreements between the senior leaders between the two parties and two states; agreements and cooperation plans between the two Governments as well as agreements and cooperation programs between departments, ministries, branches, mass organizations and localities of the two countries.

The two sides always affirm that the special friendship, solidarity and comprehensive cooperation between Vietnam and Laos are exemplary, loyal, transparent, rare, the law of development, the decisive factor for the victory of the two sides. The lives of each country are invaluable common assets of the two parties and two peoples, which should be preserved, promoted and passed on to future generations.

On the basis of good political cooperation, economic, trade and investment cooperation has always been a bright spot in the special cooperation relationship between Vietnam and Laos, in which the two sides have actively and effectively implemented cooperation agreements between the two governments and contents at the meetings of the Intergovernmental Committee; pay more attention to coordinating, guiding, inspecting, proactively removing difficulties and obstacles, creating a synchronous legal corridor to promote economic, investment and trade cooperation.

Regarding Vietnam's investment in Laos, up to now, Vietnam has 413 projects with a total investment capital of 4.22 billion USD, an increase of about 30% compared to 2010; accumulated disbursement of about 2.2 billion USD; a number of large projects have been completed, promoting efficiency, profitable production and business, creating jobs for Laos people, actively contributing to the development of the two countries.

Regarding trade, the two sides have negotiated and signed many documents contributing to perfecting the legal framework in this field (New Bilateral Trade Agreement, Border trade agreement, Protocol amending the Agreement on the transit of goods between Vietnam - Laos, ...).

The two sides have actively implemented the signed documents and the "one-stop-shop" mechanism at the Lao Bao-Densavan international border gate, strengthening trade promotion measures (organizing trade promotion conferences and fairs) to create conditions for bilateral trade to develop sustainably.

In the 2016-2020 period, the total trade turnover between the two countries will reach about US$4.8 billion. The preferential import and export tax mechanisms for goods originating from the two countries continue to be implemented by the two sides and the list is increasingly expanded.

In the field of transportation, the two sides continue to focus on implementing the Memorandum of Understanding between the two Governments on the Cooperation Strategy in the field of transportation for the period 2016-2025, with a vision to 2030; implementing the Agreement on cooperation and investment in port development No. 1, 2 and 3 of Vung Ang port; basically completed the construction project of Nong Khang airport in Houaphan province. The two sides signed an agreement on the construction and operation of the Vung Ang-Vientian railway line; coordinate to request JICA to consider implementing the Hanoi-Vientiane expressway project...

On the other hand, cooperation in the field of the energy industry between the two countries has been promoted by both sides and has achieved some positive results. The two sides signed a Memorandum of Understanding between the two Governments on the development of hydropower projects in Laos and electricity trading between the two countries until 2030 and the Agreement on cooperation in the development of electric energy projects and mines.; signed a Memorandum of Understanding on cooperation in electricity purchase and sale from wind power projects...

Economic cooperation activities between the two countries are assessed to be increasingly in-depth, substantive and effective, bringing practical benefits to both countries and two peoples.

The first foreign visit of the General Secretary and President of Laos for the 2021-2026 term is an important milestone, bringing the bilateral cooperation relationship between Vietnam and Laos to a new height in all fields, bringing the two countries' relationship closer to sustainable development.