In response to the invitation from Minister of Industry and Trade Nguyễn Hồng Diên, Lao Minister of Energy and Mines Phosay Sayasone is visiting Vietnam from October 19 to October 21, 2024. This visit aims to implement the results of the meeting between the two Politburos of Vietnam and Laos (September 2024) and high-level talks during Prime Minister Pham Minh Chinh's participation in the ASEAN Summit in Laos (October 2024).

During the visit, on the afternoon of October 20, 2024, at the headquarters of the Ministry of Industry and Trade, Minister Nguyễn Hồng Diên held talks with Lao Minister of Energy and Mines Phosay Sayasone, discussing various contents to promote cooperation in the energy and mining sectors between the two countries.

Minister Nguyễn Hồng Diên took a joint photo with Lao Minister of Energy and Mines Phosay Sayasone before the talks.

Attending the talks on the Vietnamese side were Deputy Minister Trương Thanh Hoài; leaders and representatives from specialized units under the Ministry of Industry and Trade; and representatives from companies operating in the energy and mining sectors, such as the Vietnam Oil and Gas Power Corporation (PV Power), the Vietnam National Coal and Mineral Industries Group (TKV), the Vietnam National Oil and Gas Group (PVN), and the Vietnam Electricity Group (EVN), along with several other businesses.

On the Lao side, Minister Phosay Sayasone was accompanied by leaders from various departments and functional agencies of the Lao Ministry of Energy and Mines, as well as representatives from companies and groups in the energy and mining sectors in Laos.

Overview of the talks between Minister of Industry and Trade Nguyễn Hồng Diên and Lao Minister of Energy and Mines Phoxay Sayasone.

During the talks, the two ministers expressed their pleasure and appreciation for the concrete results achieved in energy and mining cooperation between Vietnam and Laos in recent times. They emphasized and affirmed the importance of collaboration in the energy and mining sectors, particularly in electricity and coal, viewing this as a pillar in the direction of energy cooperation development between the two countries in the coming period.

Specifically, regarding cooperation in electricity trading, both ministers noted that the implementation of the Memorandum of Understanding on cooperation to develop hydropower projects in Laos, connecting the electricity systems and trading electricity between the Vietnamese and Lao governments (signed in 2016) has been very effective.

With the close cooperation between Vietnam's Ministry of Industry and Trade and Laos's Ministry of Energy and Mines, after eight years of implementation, the total contracted electricity purchase capacity has reached 2,239 MW, accounting for 74.3% of the committed capacity by 2025. Vietnam has approved the policy to import electricity from projects/groups of projects importing electricity from Laos with a total capacity of 2,939 MW.

Minister Nguyễn Hồng Diên spoke at the talks.

Continuing the discussion on future cooperation directions in electricity trading, both ministers highly appreciated the initiative of the functional units of both sides in agreeing to establish a working group for electricity trading between Vietnam and Laos. The Vietnamese side has completed the establishment of the working group and requested the Lao side to finalize the establishment of the working group soon so that both sides can develop specific plans and working programs to address issues related to electricity trading cooperation between Vietnam and Laos.

In addition to electricity trading cooperation, during the talks, Minister Nguyễn Hồng Diên and Minister Phosay Sayasone had specific discussions on cooperation directions in coal trading between Vietnam and Laos in the coming period. To resolve issues regarding mechanisms and infrastructure related to importing coal from Laos to Vietnam, Minister Nguyễn Hồng Diên proposed that both sides closely cooperate to develop and negotiate a coal agreement with the aim of signing.

Lao Minister of Energy and Mines Phosay Sayasone spoke at the talks.

At the talks, both ministers also confirmed their commitment to cooperate closely and encourage capable Vietnamese and Lao enterprises to invest in potential projects in the energy and mining sectors of both countries, bringing practical benefits to both Vietnam and Laos.

After the talks, Minister Nguyễn Hồng Diên and Minister Phosay Sayasone witnessed the signing ceremony of the contract for the construction of a conveyor line between the Research Institute of Mechanical Engineering - GP Holdings Corporation and Phonesack Group (Laos).

The signing ceremony of the contract for the construction of the conveyor line between the Research Institute of Mechanical Engineering - GP Holdings Corporation and Phonesack Group (Laos).

After the talks, Minister Nguyễn Hồng Diên and Minister Phosay Sayasone witnessed the signing ceremony of the contract for the construction of the conveyor line between the Research Institute of Mechanical Engineering - GP Holdings Corporation and Phonesack Group (Laos).

Earlier, in April 2024, during Minister Nguyễn Hồng Diên's official visit to Laos, the Research Institute of Mechanical Engineering (NARIME) – GP Holdings Corporation and Phonesack Group - Nam Tien Co., Ltd. signed a Memorandum of Understanding regarding the "Design, manufacture, and installation of a 6.3 km conveyor system transporting coal across the border from Laos to Vietnam at the La Lay border gate."