Vietnam, Laos to boost economic cooperation, maintain great ties

The two sides signed 10 cooperation documents on banking-finance, transport, economic diplomacy, science and technology, IT and communications, education and training, and health.

Viet Nam News

Viet Nam News



Prime Minister Chính speaks at an event to review the Việt Nam-Laos, Laos-Việt Nam Solidarity and Friendship Year 2022 during his visit to the country on Wednesday. — VNA/VNS Photos Dương Giang

January 12, 2023

VIENTIANE — Việt Nam’s Prime Minister Phạm Minh Chính and his Laotian counterpart Sonexay Siphandone on Wednesday agreed to further boost the economic cooperation between the two countries with priority given to supporting each other’s recovery post-pandemic and building an independent, self-reliant and widely integrated economy.

Vietnamese leader Chính is on a two-day official visit to Laos, starting from Wednesday.

During the talks held the same day, the prime ministers of the two countries discussed and agreed on measures to further enhance the effectiveness of cooperation in all fields.

On this occasion, the two sides signed 10 cooperation documents on banking-finance, transport, economic diplomacy, science and technology, IT and communications, education and training, and health.

During the talks, the two leaders agreed to maintain high-level exchanges in all channels, aiming to enhance the political relationship between the two Parties and two countries.

PM Chính and his Laotian counterpart Sonexay at the signing ceremony of a number of important cooperation documents on Wednesday.

They also agreed to strengthen connectivity between the two economies, especially through strategic road, railway, and aviation projects as well as others on telecommunication, energy, financial services and banking to expand the space for cooperation and development.

Reaffirming the consistent policies of the two Parties and two countries, the two leaders said both sides pay special attention to and give utmost priority to enhancing the great friendship, solidarity and comprehensive cooperation between the two countries.

Economic, trade and investment cooperation has been on the right track. Việt Nam has had five new projects and seen four projects raising capital with total investment of US$70 million in 2022, up nearly 50 per cent compared to 2021.

The two leaders agreed that the two sides try their best to effectively implement Việt Nam-Laos strategic cooperation agreement in 2021-2030, the bilateral cooperation agreement in 2021-2025 and many others.

They agreed to continue to maintain the annual trade growth of 10-15 per cent as well as expand investment and cooperation with a focus on projects in border areas.

They also pay special attention to educating the young people of the two countries about the special relationship between Việt Nam and Laos while enhancing cooperation in human resources training.

They also discussed issues of global and regional concern, affirming that the two countries would continue to support each other at multilateral forums, especially UN, ASEAN and sub-Mekong cooperation mechanism.

They will maintain the solidarity and central role of ASEAN in strategic issues, including the East Sea. Việt Nam stands ready to support Laos to successfully take over international tasks including the ASEAN/AIPA Chairmanship in 2024.

According to PM Chính, 2022 marked an important time as the two countries celebrated the 60th founding anniversary of diplomatic relations and the 45th anniversary of the signing of the Treaty of Amity and Cooperation between the two countries with several activities and events.

Also on this occasion, PM Chính was awarded the National Gold Order, the highest distinction of Laos.

On the same day, PM Chính also met with General Secretary of the Lao People’s Revolutionary Party (LPRP) Central Committee and Lao President Thongloun Sisoulith. — VNS

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