In the near future, Vietnam and Laos will enhance public-private cooperation to develop infrastructure and connect their economies, especially the Hanoi–Vientiane expressway and the Vũng Áng–Vientiane railway.

On the afternoon of August 16, in Nghe An, a mid-term conference was held under the co-chairmanship of the leaders of the Ministry of Planning and Investment of Vietnam and Laos to assess the implementation of the Vietnam-Laos Cooperation Agreement for 2024 and review and promote the bilateral cooperation agreement between the two countries for the period 2021-2025.

The conference.

During the conference, Laos' Minister of Planning and Investment, Phet Phomphiphak, who is also the Chairman of the Laos-Vietnam Cooperation Committee, discussed various global and domestic issues of mutual interest to both sides, as well as the progress of the 2024 Cooperation Agreement and the bilateral cooperation agreement for the period 2021-2025.

 Laos' Minister of Planning and Investment, Phet Phomphiphak, Chairman of the Laos-Vietnam Cooperation Committee, speaks.

According to Minister Phet Phomphiphak, in the economic sector alone, from 2021 until now, the Lao People's Democratic Republic has granted new investment licenses to Vietnamese enterprises for several projects in Laos, with a total investment amount of 869.9 million USD. In the first six months of 2024, Laos granted licenses for six projects to Vietnamese enterprises with a total capital of 339 million USD.

To date, Vietnamese enterprises have invested in 256 projects in Laos, with a total registered capital of 5.5 billion USD; cumulative actual investment has reached about 2.8 billion USD. Many of these Vietnamese investment projects in Laos are operating effectively, contributing positively to socio-economic development.

Trade cooperation between the two countries continues to grow. From 2021 to 2023, the average growth rate of trade between the two countries reached 17.7%. In the first six months of 2024, trade reached 927.8 million USD, an increase of 11.1% compared to the same period in 2023.

In terms of transportation and construction cooperation, the two sides have signed a memorandum of understanding for feasibility studies, and several projects are in the process of surveying land, such as the expressway connecting Vientiane and Hanoi, the Vientiane–Tha Khek–Tan Ap–Vung Ang railway...

Minister Phet Phomphiphak stated that in the coming time, the two ministries need to continue strengthening comprehensive cooperation and closely coordinate efforts to promote cooperation between the two countries; to facilitate and manage the investment activities of enterprises in each country; and to serve as a focal point to promote enterprises that already have contracts or joint venture agreements to implement according to plan.

Deputy Minister of Planning and Investment Tran Quoc Phuong speaks.

According to Deputy Minister of Planning and Investment Trần Quốc Phương, the cooperation plan agreement between the two countries in the first six months of 2024 has basically achieved its set goals, significantly contributing to maintaining political stability, socio-economic development, and ensuring national defense and security in each country.

Deputy Minister Trần Quốc Phương emphasized that Vietnam's consistent policy is to always value and prioritize the preservation and development of the special relationship between Vietnam and Laos, considering it a priceless asset vital to the revolutionary cause of each country.

In the near future, the two sides need to continue to thoroughly grasp the contents of the high-level leaders' agreements, the minutes of the annual meetings between the two Political Bureaus; the agreement on the annual cooperation plan between the two governments; and to coordinate and promote ministries, sectors, localities, and relevant agencies to strive to complete the Vietnam-Laos Cooperation Agreement for 2024.

Accordingly, they should strengthen cooperation in politics and diplomacy, deepen the political relationship between Vietnam and Laos, and maintain a guiding role in the overall bilateral relations of the two countries, focusing on effectively implementing the joint declarations and high-level agreements between the two countries.

Strengthening the cooperation pillars between the two countries in defense and security; closely coordinating to ensure political stability, security, order, and social safety in each country, especially ensuring security along the border.

Promoting cooperation and economic connectivity; enhancing the effectiveness of cooperative areas. Thus, in the coming time, there needs to be a breakthrough in economic and investment cooperation between the two countries through promoting public-private partnerships to develop infrastructure, connecting their economies, especially the Hanoi–Vientiane expressway and the Vung Ang–Vientiane railway to connect Laos to the sea, as well as cooperation in aviation and infrastructure connecting border gates.

Regarding trade cooperation, efforts will continue to boost trade growth between the two countries according to the commitments made during the 46th meeting of the Vietnam-Laos Intergovernmental Committee.

Conference delegate.

Furthermore, Deputy Minister Trần Quốc Phương noted that Vietnam will continue to purchase electricity from Laos according to the signed memorandum. To further promote energy cooperation, it is necessary to develop a plan to connect the power grids between the two countries and link the power grids of Cambodia, Laos, and Vietnam.

The two sides will also continue to prioritize cooperation in education and training; further implement measures to enhance the effectiveness of Vietnam's aid capital for Laos; and strongly promote cooperation mechanisms through the two countries' cooperation committee to coordinate, resolve difficulties, and effectively promote economic cooperation between the two countries.

Earlier, on the morning of August 16, as part of their work program in Vietnam for the conference, the delegation from the Ministry of Planning and Investment of the Lao People's Democratic Republic visited the Kim Liên National Special Relic Site in Nam Đàn, Nghệ An, to offer flowers and incense in memory of President Ho Chi Minh.