Economic, investment, and trade cooperation continues to develop positively and effectively. Border-region economic cooperation is also growing dynamically, not only strengthening the ties between the two countries but also contributing significantly to improving the lives of people in the Vietnam-Laos border areas.

On July 12, as part of President Tô Lâm’s state visit to the Lao People's Democratic Republic, Vietnamese Minister of Planning and Investment Nguyễn Chí Dũng, who serves as Chairman of the Vietnam-Laos Cooperation Committee, met with Phoxay Phomvixay, Lao Minister of Planning and Investment and Chairman of the Laos-Vietnam Cooperation Committee.

 Minister of Planning and Investment Nguyễn Chí Dũng with the Minister of Planning and Investment of Laos, Phet Phomphiphak.

During the meeting, both sides acknowledged the achievements of the two countries' cooperation committees in recent years and agreed to review cooperation mechanisms to address challenges in economic, investment, and trade collaboration. This effort aims to strengthen bilateral relations in line with each country's strengths and potential, reflecting the deep friendship, comprehensive solidarity, and extensive cooperation that have been carefully fostered by both nations’ Parties, governments, and people.

The relationship between Vietnam and Laos is thriving comprehensively on a foundation of increasing trust and close bonds. Cooperation through Party channels plays a central role, guiding and driving the strong growth of this relationship.

 Delegation of the Ministry of Planning and Investment of Vietnam - Laos.

Economic, investment, and trade cooperation continues to progress positively and effectively. Economic collaboration in the border region has been dynamic, enhancing the connection between the two countries and significantly contributing to the well-being of communities along the Vietnam-Laos border.

Vietnam remains one of Laos’s largest investors and trading partners, with 255 active investment projects in Laos, totalling $5.5 billion. This has had a positive impact on local socio-economic development, appreciated by Lao leaders and citizens. Many Vietnamese businesses in Laos have provided stable employment and income for local communities, gradually raising the standard of living for the Lao people.

Additionally, many Vietnamese businesses in Laos have fulfilled their social responsibilities, actively supporting local communities by funding schools, clinics, roads, and resettlement housing for project areas and impoverished areas in remote regions, with contributions valued at approximately $150 million. These efforts strengthen the traditional friendship and comprehensive cooperation between the two countries.

Conversely, Laos currently has 18 investment projects in Vietnam with a total registered capital exceeding $110 million. Lao businesses have been facilitated by Vietnamese authorities throughout their investment and business operations.

Lao Minister of Planning and Investment Khamjane Vongphosy expressed high regard for Vietnamese businesses, noting that they not only contribute economically but also play a significant role in Laos's socio-economic development, with most investments located in remote and disadvantaged regions.