Vietnam remains one of the largest investors and major trading partners of Laos, with 255 active investment projects amounting to a total capital of $5.5 billion. President To Lam reaffirmed this on July 12, 2024, during his state visit to Laos, during which Minister of Planning and Investment Nguyen Chi Dung, who also chairs the Vietnam-Laos Cooperation Committee, held discussions with his Lao counterpart, Minister Phet Phomphiphak, who chairs the Laos-Vietnam Cooperation Committee.

During the meeting, both sides acknowledged the positive outcomes of the cooperative efforts between the two nations over the past years. They agreed to review and optimize their cooperation mechanisms to resolve existing challenges in economic, trade, and investment partnerships. The objective is to enhance bilateral ties by leveraging the strengths of both nations, aligning with the long-standing, comprehensive relationship between Vietnam and Laos, nurtured by their respective governments and people.

The Vietnam-Laos relationship continues to thrive across many dimensions, built on mutual trust and solidarity. The leadership of both countries drives political cooperation, which serves as a crucial foundation for this robust partnership. Economic, trade, and investment cooperation has also seen significant progress, particularly in the dynamic development of border economies, which not only deepens bilateral connections but also enhances the living standards of people in border regions.

Vietnam's active investment in 255 projects across various sectors, with a combined capital of $5.5 billion, further emphasizes its role as one of Laos' top investors. These investments have contributed greatly to the socio-economic development of Laos, providing jobs and stable incomes for Lao citizens and improving their living conditions. Vietnamese enterprises in Laos have also played a key role in corporate social responsibility, actively contributing to community development projects such as building schools, clinics, roads, and resettlement housing for disadvantaged communities. Their total contributions amount to approximately $150 million, further reinforcing the strong bonds between the two nations. 

On the flip side, Laos currently has 18 ongoing investment projects in Vietnam, with a total registered capital exceeding $110 million. The Vietnamese government has been actively supporting and creating favorable conditions for Lao enterprises operating in the country.

Minister Khamjane Vongphosy of Laos expressed appreciation for the contributions of Vietnamese businesses, highlighting that they not only bring economic benefits but also have a profound impact on the development of remote and underprivileged areas in Laos.

In terms of trade, the two countries have leveraged various preferential agreements, including the ASEAN Trade in Goods Agreement and the Vietnam-Laos Bilateral Trade Agreement, to boost trade exchanges. In 2023, bilateral trade between Vietnam and Laos reached $1.63 billion, with Vietnam exporting goods worth $533.5 million and importing goods valued at $1.1 billion. For the first six months of 2024, trade between the two nations amounted to $927.8 million, or approximately 57% of the total trade volume of 2023.

These figures reflect the growing importance of Vietnam-Laos cooperation, which continues to strengthen through joint efforts in investment and trade, contributing to the long-standing friendship and comprehensive partnership between the two countries.