On the afternoon of August 16, in Cua Lo, Nghe An, a mid-term conference was held to evaluate the implementation of the Vietnam-Laos Cooperation Plan Agreement for 2024 and to review and promote the bilateral cooperation agreement between the two countries for the period of 2021-2025, co-chaired by the leaders of the Ministries of Planning and Investment of both countries.

Trần Quốc Phương, Deputy Minister of Planning and Investment and Vice Chairman of the Vietnam-Laos Cooperation Committee, along with leaders from Military Region 4 and Nghệ An Province, exchanged ideas with Minister Phet Phomphiphak and the Lao delegation on the sidelines of the conference.

On the Lao side, the delegation was led by Comrade Phet Phomphiphak, a member of the Central Committee of the Lao People’s Revolutionary Party, Minister of Planning and Investment, and Chairman of the Lao-Vietnam Cooperation Committee. Also attending was Comrade Khamphao Ernthavanh, the Ambassador Extraordinary and Plenipotentiary of the Lao People’s Democratic Republic to Vietnam.

On the Vietnamese side, the delegation was led by Comrade Tran Quoc Phuong, Deputy Minister of Planning and Investment and Vice Chairman of the Vietnam-Laos Cooperation Committee, along with representatives from various ministries and agencies, including the Central Committee for External Relations, the Government Office, the Ministry of Foreign Affairs, the Ministry of Defense, the Ministry of Finance, the Ministry of Public Security, the Ministry of Education and Training, the Ministry of Agriculture and Rural Development, Military Region 4, and the People's Committees of Thanh Hoa and Ha Tinh provinces.

Comrade Bui Dinh Long, a member of the Provincial Party Committee, Vice Chairman of the Nghe An Provincial People's Committee, represented the Nghe An Provincial People's Committee at the conference. Leaders of several relevant departments and sectors also attended.

Vietnam Invests in 256 Projects in Laos with a Total Registered Capital of 5.5 Billion USD

During this conference, both sides conducted a mid-term review and assessment of the situation regarding the implementation of the Vietnam-Laos Cooperation Agreement for 2024, identifying key areas to promote cooperation between the two countries in the last months of 2024 and discussing other important matters.

 Phet Phomphiphak, Minister of Planning and Investment of Laos and Chairman of the Lao-Vietnam Cooperation Committee, spoke at the conference.

In his speech, Comrade Phet Phomphiphak expressed his pleasure and excitement to represent the Government of the Lao People’s Democratic Republic and the Ministry of Planning and Investment, leading the Lao delegation to attend the conference.

Minister Phet Phomphiphak shared some global and domestic situations of Laos that both sides are concerned about, as well as the implementation status of the 2024 Cooperation Plan Agreement and the bilateral cooperation agreement for the 2021-2025 period.

Leaders of the Ministry of Planning and Investment and various ministries in the Vietnam-Laos Cooperation Committee, along with leaders from Nghe An Province at the conference.

Specifically, in the economic sector, from 2021 to now, the Lao People's Democratic Republic has granted investment licenses for Vietnamese enterprises to implement several projects in Laos with a total investment 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, including one project in mining, one in electricity, and four in healthcare.

Comrade Bùi Đình Long - Member of the Provincial Party Committee, Deputy Chairman of the Nghệ An Provincial People's Committee attended the conference.

As of now, Vietnamese enterprises have invested in 256 projects in Laos with a total registered capital of 5.5 billion USD, with cumulative actual investment reaching approximately 2.8 billion USD.

Many of these Vietnamese projects in Laos are operating effectively, positively contributing to economic and social development, creating jobs, and increasing incomes for thousands of workers. They also supplement state revenue for Laos, particularly in sectors such as telecommunications, banking, rubber planting and processing, food and agricultural production, and dairy.

Representatives from the ministries and sectors in the Vietnam-Laos Cooperation Committee attend the conference.

Trade cooperation between the two countries continues to increase, with the total trade turnover in the first six months of 2024 reaching 927.8 million USD, up 11.1% compared to the same period in 2023. Of this, Laos imported 289.2 million USD from Vietnam, while the value of Lao exports to Vietnam reached 638.6 million USD. From 2021 to 2023, the average trade growth rate between the two countries was 17.7%.

In terms of transport and construction cooperation, both sides signed a memorandum of understanding for feasibility studies, and several projects are in the process of surveying the area on-site, such as the highway connecting Vientiane - Hanoi, the Vientiane - Tha Khek - Tan Ap - Vung Ang railway, etc. They also continue to promote the implementation of agreements and protocols for the investment cooperation of Vũng Áng ports 1, 2, and 3.

Representatives from the ministries and sectors in the Vietnam-Laos Cooperation Committee attend the conference.

Minister Phet Phomphiphak stated that in the near future, the two ministries need to continue enhancing comprehensive cooperation, closely coordinating efforts to promote cooperation between the two countries, facilitating and managing the investment activities of enterprises in each country, while also serving as a focal point for coordinating and promoting businesses that have contracts or joint venture agreements to implement according to the planned schedule and address existing issues of the licensed investment projects.

Prioritizing the Preservation and Development of Vietnam-Laos Special Relations

In his speech at the conference, Vietnamese Deputy Minister of Planning and Investment Tran Quoc Phuong stated that although the global and regional situations continue to change rapidly, complicatedly, and unpredictably, negatively impacting countries including Vietnam and Laos, under the decisive leadership of the Central Committees of the two Parties and the two Governments, in the first six months of 2024, ministries, sectors, and localities of both sides have proactively and actively coordinated closely to achieve practical results.

Mr. Trần Quốc Phương - Deputy Minister of Planning and Investment, Vice Chairman of the Vietnam - Laos Cooperation Committee, speaks at the conference.

Comrade Trần Quốc Phương emphasized that the agreement on the cooperation plan between the two countries in the first six months of 2024 has basically achieved the set goals, contributing significantly to maintaining political stability, developing the economy and society, and ensuring national defense and security in each country; continuing to consolidate and strengthen the great friendship, special solidarity, and comprehensive cooperation between Vietnam and Laos.

He highlighted Vietnam's consistent policy of always valuing and prioritizing the preservation and development of the special Vietnam-Laos relationship, considering it an invaluable asset vital to the revolutionary cause of each country.

Comrade Phet Phomphiphak - Minister of Planning and Investment of Laos, Chairman of the Laos - Vietnam Cooperation Committee at the conference.

Vice Chairman of the Vietnam-Laos Cooperation Committee Trần Quốc Phương emphasized that in the coming time, both sides need to continue to thoroughly understand the contents of the agreements made by senior leaders, the minutes of the annual meetings between the two Politburos, and the agreements on annual cooperation plans between the two governments. They should coordinate and promote ministries, sectors, localities, and relevant agencies to strive to complete the Agreement on the Vietnam-Laos Cooperation Plan for 2024 effectively.

Accordingly, it is necessary to enhance cooperation in politics and diplomacy, deepening the political relationship between Vietnam and Laos, keeping the overall guiding role of the bilateral relations of the two countries, focusing on effectively implementing the joint declarations and high-level agreements between the two countries.

Representatives from the ministries and sectors in the Vietnam-Laos Cooperation Committee attend the conference.

Strengthening the pillars of cooperation 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.

At the same time, promote economic cooperation and connectivity; enhance the effectiveness of cooperative fields. Thus, there needs to be a breakthrough in economic cooperation and investment between the two countries, particularly through strengthening public-private cooperation to develop infrastructure and connect the two economies, especially the Hanoi - Vientiane highway and the Vũng Áng - Vientiane railway to connect Laos to the sea, as well as air cooperation and infrastructure to connect border gates.

Representatives from the ministries and sectors in the Vietnam-Laos Cooperation Committee attend the conference.

Deputy Minister Trần Quốc Phương also suggested creating breakthroughs in developing high-quality human resources between the two countries, considering this a key task in their relations in the near future. Focus on promoting cooperation in priority areas such as high-tech industry, innovation, energy, mining, high-tech agriculture, and e-commerce.

For trade cooperation, it is necessary to continue promoting the growth of trade turnover between the two countries according to the commitments made by both countries at the 46th Meeting of the Vietnam-Laos Intergovernmental Committee, such as the memorandum of understanding on developing and connecting Vietnam-Laos border trade infrastructure and the Vietnam-Laos Trade Agreement.

Representatives from the ministries and sectors in the Vietnam-Laos Cooperation Committee attend the conference.

Vietnam will continue to purchase electricity from Laos as per the signed memorandum. To further promote energy cooperation, it is essential to build a plan for connecting the electricity grids of the two countries and connecting the electricity grids of Cambodia, Laos, and Vietnam. Continued prioritization of education and training cooperation, with a focus on training strategic-level officials and promising young personnel, as well as enhancing the quality of student selection and teaching across various levels of education.

The conference assessing the implementation of the Vietnam-Laos Cooperation Plan Agreement for 2024 and reviewing and promoting the bilateral cooperation agreement between the two countries for the period of 2021-2025.

Efforts will continue to enhance the effectiveness of Vietnamese aid to Laos; regularly coordinating and organizing inter-sectoral delegations to inspect programs, projects funded by aid, and investment projects of Vietnamese enterprises in Laos to ensure the progress and quality of projects. They should also explore ways to use this funding alongside other legal sources to invest in large, key projects with significant impacts supporting the socio-economic development of Laos.

The delegation of the two countries, Vietnam and Laos, took a commemorative photo.

Additionally, there will be strong promotion of cooperation mechanisms through the Vietnam-Laos Cooperation Committee to coordinate and resolve difficulties and obstacles, enhancing effective economic cooperation between the two countries.