(MPI) - Deputy Minister of Planning and Investment Tran Quoc Phuong, Vice Chairman of the Vietnam-Laos Intergovernmental Committee for Bilateral Cooperation and Deputy Minister of Planning and Investment of Laos Viengsavanh Vilayphone, Vice Chairman of the Laos-Vietnam Intergovernmental Committee for Bilateral Cooperation co-chaired a conference in Vientiane on November 12 to prepare for the 47th meeting of the Vietnam-Laos Intergovernmental Committee for Bilateral Cooperation.

A view of the conference. Photo: MPI

According to report at the conference, the implementation of the Vietnam-Laos Cooperation Plan for 2024 has achieved its set objectives. The relationship between the two countries continues to develop positively, with political trust constantly being strengthened; high-level leaders of both countries maintain regular exchanges in various forms, especially the State visit to Laos by President To Lam (July 12-14), and the State visit to Vietnam and attending the  high-level meeting between the two Parties by  General Secretary of the Lao People’s Revolutionary Party (LPRP) Central Committee and President of Laos Thongloun Sisoulith (September 11-13).

Vietnam has actively supported Laos in assuming the role of ASEAN Chair 2024, AIPA 45, and other high-level conferences, including coordinating with relevant agencies to provide equipment and advising Laos on the experience of organizing conferences, handling complex issues, and suggesting focuses and priorities for Laos's ASEAN Chairmanship in 2024.

Investment cooperation continues to show positive changes, with many investment projects of Vietnamese enterprises in Laos operating effectively, positively contributing to socio-economic development, creating jobs, and improving income for the people, and supplementing revenue for the state budget of Laos, especially in the fields of telecommunications, banking, rubber cultivation and processing, and the production and processing of food and dairy products.

The support and resolution of difficulties for enterprises have been a focus of the governments of both countries, with determined and vigorous directives that have been very actively implemented by ministries and sectors of both countries. The two agencies have focused on removing obstacles for key investment projects, and creating favorable conditions to speed up the implementation progress.

In terms of trade cooperation, the bilateral trade between Vietnam and Laos in 2024 has achieved positive results, continuing to be a bright spot in the bilateral cooperation relationship, with the number in the first nine months of 2024 reached approximately 1.7 billion USD, a year-on-year increase of 28%.

Both sides have made great efforts and successfully signed a new Vietnam-Laos Trade Agreement on April 8 this year, continuing to create a legal framework that specially favors the import and export of goods between the two countries.

Based on the achieved results and some existing shortcomings and limitations that need to be addressed in bilateral cooperation, both sides focused on discussing and outlining the direction of cooperation in 2025, which includes continuing to implement the agreement by the senior leaders, the minutes of the annual meetings between the two Politburos, as well as the annual cooperation plan agreement between the two Governments. They agreed to encourage ministries, sectors, localities, and related agencies to successfully complete the Vietnam-Laos Cooperation Plan for 2024 and 2025.

Accordingly, the two sides need to enhance investment and trade cooperation, boost trade turnover growth of 10-15%, strengthen trade promotion, branding, and distribution channels for goods in each country to ensure a stable presence and sustainable outputs, and continue to prioritise cooperation in education and training with focus on high quality./.

Bao Linh

Ministry of Planning and Investment