MOIT VIETNAM | Vietnam And Laos Enhance Economic Ties, Fostering Collaboration on Important Projects
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Vietnam And Laos Enhance Economic Ties, Fostering Collaboration on Important Projects
During Prime Minister Sonexay Siphandone's first official visit to Vietnam in his new role, Prime Minister Pham Minh Chinh welcomed him with open arms in an atmosphere characterized by intimacy and friendship between the two leaders.
Prime Minister Pham Minh Chinh expressed his deepest appreciation for the recent successes of the Laotian Party, State, and People. Among the most significant achievements were the restoration of economic health, the preservation of national defense, and social stability. Concurrently, he conveyed his confidence that the astute leadership of the Lao People's Revolutionary Party would effectively execute the 5-year socio-economic development plan and carry out the Resolution of the 11th National Party Congress. He has faith in Laos's ability to triumph over any obstacle.
Recognizing the unique bond between the two countries, Prime Minister Pham Minh Chinh conveyed his deepest appreciation to the kind Lao Party and State for their invaluable assistance and support throughout Vietnam's prior fight for independence and the development of the Vietnam Homeland. Vietnam has always placed a high value on and prioritized this relationship. Additionally, he emphasized that Vietnam would always value and acknowledge the unique connection between Vietnam and Laos.
The prime minister of Laos, Sonexay Siphandone, extended his gratitude for the cordial reception extended to the high-ranking Lao government delegation by the Vietnamese government and people. He also expressed his delight at making his first official visit to Vietnam in his new role, and he commended Vietnam on its recent successes in defense and security, socioeconomic development, and foreign affairs, which have contributed to Vietnam's rising international profile. Siphandone saw this as a tremendous boost to the cause of defending and developing Laos.
During this event, Prime Minister Sonexay Siphandone expressed his heartfelt gratitude to Vietnam for the undeniable, significant, and genuine support and assistance that Vietnam provided to Laos during the country's struggle for independence, as well as the process of establishing and developing the country after it was established.
The two Prime Ministers emphasized the importance of a good, all-encompassing, far-reaching, and effective expansion of Vietnam and Laos' great friendship, exceptional solidarity, and comprehensive cooperation in all sectors, expressing their delight at the strengthening of these relationships.
Political ties between the two countries continue to strengthen, becoming more trusting and connected, and playing an important role in defining the relationship's overall trajectory. This is due to the ongoing development of the two nations' relationship. In addition to making visits to each other, the two sides maintain a consistent schedule of high-level meetings and exchanges.
Cooperation in the sectors of military, security, and international affairs remains a fundamental pillar, and it is becoming more effective and broadening its reach. As a result, this helps to solidify the strong foundation that acts as the cornerstone for the two countries' bond.
The ongoing adoption of joint efforts in economics, trade, and investment continues to provide positive results. Laos presently has 241 investment projects, with a total investment of $5.47 billion USD. Vietnam continues to rank third among nations and territories investing in Laos. By 2023, it is predicted that bilateral trade would generate more than 1.5 billion USD in total.
Cooperation is constantly being strengthened and deepened in a variety of disciplines, including education and training, culture, research and technology, tourism, and people-to-people connections.
The two Prime Ministers came to an agreement on the future course of cooperation. They decided to expand the number of high-level meetings and visits held between their respective nations. In addition to the outcomes of the meeting between General Secretary Nguyen Phu Trong, General Secretary and President of Laos Thongloun Sisoulith, and Chairman of the Communist Party of the Philippines Hun Sen, Prime Minister Pham Minh Chinh proposed that the two governments of Vietnam and Laos be able to concretize and effectively implement the agreement reached between the two Politburos of Vietnam and Laos. Ensure that the two administrations effectively carry out the agreements they have made. These agreements include the Vietnam-Laos Strategic Collaboration Agreement for 2021-2030, the Vietnam-Laos Bilateral Cooperation Agreement for 2021-2025, and the Agreement on Vietnam-Laos Collaboration Plan 2024.
Both parties are working to improve the effectiveness of defense and security cooperation in order to effectively address new challenges, strengthen border management and protection, prevent transnational crimes, particularly drug crimes, and continue to coordinate and support the search for, retrieval, and repatriation of the remains of Vietnamese volunteer soldiers and experts who died in Laos.
Both sides advocate development cooperation among the various communities of the two countries. The link between Vietnam and Laos' economies should be strengthened, particularly in terms of institutions, finance, transportation infrastructure, energy, telecommunications, and tourism; the promotion of Vientiane-Hanoi expressway projects, Vientiane-Vung Ang railway projects, and other important cooperation projects should continue. in order to establish an independent and self-sufficient economy, which is related with proactive, active, substantial, substantive, and efficient international integration; engage with one another in order to achieve this; To make it easier for Vietnamese enterprises to conduct business in Laos, an investment and commerce-friendly environment must be created. The goals of this endeavor should be to attract and create more resources for cooperative projects, strengthen trilateral cooperation between Vietnam, Laos, and appropriate development partners, coordinate in order to review and completely resolve difficulties and obstacles, and create a business and investment-friendly environment.
Both parties were successful in implementing protocols and cooperation efforts in the fields of education and human resource development. The domains of health, culture, the arts, and sports were among those where efforts were made to develop partnership. Furthermore, efforts were made to promote propaganda and education on the history of Vietnam's unique relationship with Laos for people from all walks of life, particularly the younger generation in both countries. This was done to better comprehend the connection between the two nations.
While discussing regional and international issues of mutual concern, the two Prime Ministers emphasized the need to maintain the region's peace, security, and stability. This was done throughout their conversation. Among these are the preservation of unity and a common mentality, as well as ASEAN's significant role in addressing regional security and geopolitical difficulties, such as the East Sea dispute.
While this was going on, the two sides agreed to continue their close cooperation and mutual support in regional and international venues. These venues include the ASEAN, UN, and Mekong sub-region cooperation structures. They also agreed to continually promote the excellent working collaboration between Cambodia, Laos, and Vietnam.
According to Prime Minister Pham Minh Chinh, who was quoted as saying that Vietnam is ready to help Laos in properly carrying out international commitments in 2024, including the role of ASEAN Chairmanship. Laos is set to assume these tasks in 2024.
During the ceremony, Prime Minister Pham Minh Chinh sent cordial greetings, best wishes for the new year, and health to Laotian Party and State authorities. These officials included General Secretary and President Comrade Thongloun Sisoulith, Chairman of the National Assembly Comrade Xaysomphone Phomvihane, and other top party and state leaders. Other Vietnamese authorities, including General Secretary Nguyen Phu Trong, were in attendance.
Immediately after the meeting, the two prime ministers signed four agreements outlining their partnership. These included a protocol on border defense cooperation between the Vietnamese and Laotian defense ministries, a memorandum of understanding on cooperation plans between the Vietnamese and Laotian prime ministers' offices, a memorandum of understanding on the development and connection of border trade infrastructure between the two governments, and a cooperation plan for 2024 between the Vietnamese and Laotian ministries of education and training.
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