MOIT VIETNAM | Vietnam and Laos Strengthen Ties Across Economic and Cultural Sectors

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Vietnam and Laos Strengthen Ties Across Economic and Cultural Sectors

10th July 2024 post by MOIT Vietnam

Since the start of 2024, both nations have focused on implementing high-level agreements, joint statements, and bilateral cooperation plans effectively. These efforts have produced positive outcomes that align with the evolving needs and circumstances of both countries.

Political relations have been the foundation of Vietnam-Laos cooperation, guiding all bilateral activities. In recent years, there have been frequent exchanges between high-ranking leaders of the Communist Party of Vietnam and the Lao People's Revolutionary Party. These exchanges, both direct and indirect, have fostered deeper mutual trust and closer ties between the two nations, earning international praise for their positive impact.

Defense and security collaboration remains a core pillar of Vietnam-Laos relations. Both countries have maintained strong cooperation in border management, which has contributed to a stable and peaceful environment, supporting development not only in Vietnam and Laos but also across the broader region.

 

 

Economic, trade, and cultural collaboration has continued to grow, becoming increasingly diverse and in-depth. Bilateral trade has seen annual growth rates of over 10% in recent years, demonstrating the dynamic nature of the relationship. Vietnam remains one of the leading investors in Laos, with 417 projects valued at approximately $4.3 billion, spanning sectors like finance, energy, telecommunications, agriculture, and mining. These investments have played a crucial role in Laos' socio-economic development and have improved the livelihoods of local communities.

Infrastructure development has been a priority, with significant projects underway to enhance connectivity. These include the Hanoi-Vientiane Expressway, the Thakhek-Vung Ang railway, and expansions at Vung Ang Port. The two countries are also collaborating on energy initiatives, particularly in electricity trading and clean energy projects, further boosting their economic ties.

Education and human resource development have been vital areas of cooperation. Vietnam continues to offer 1,120 scholarships to Lao students each year, with over 10,000 Lao students currently studying in Vietnam and several hundred Vietnamese students studying in Laos. In the first half of 2024, efforts were focused on implementing the Master Plan for education and human resource development cooperation (2021-2030), aiming to improve both the scope and quality of collaboration in this field.

The cooperation extends to ministries, sectors, organizations, and the people of both nations, showing strong practical outcomes. Inter-locality relationships have also progressed, not only between border provinces or sister provinces but also among other regions, indicating growing collaboration beyond traditional ties.

Vietnam and Laos maintain close coordination at regional and international platforms such as the United Nations, ASEAN, and the Mekong Subregion, further highlighting the depth of their relationship.

Despite facing challenges due to shifting regional and global dynamics, marked by strategic, political, economic, and technological competition, the Vietnam-Laos partnership remains resilient. With steadfast determination from both governments, parties, and people, this great friendship, special solidarity, and comprehensive cooperation will continue to grow, benefiting both nations and contributing to peace, stability, and development across the region and globally.