(MPI) - The 47th meeting of the Vietnam-Laos intergovernmental committee for bilateral cooperation was held in Vientiane, Laos on January 9 under the co-chair of VPrime Minister Pham Minh Chinh and his Lao counterpart Sonexay Siphandone.

The 47th meeting of the Vietnam-Laos intergovernmental committee for bilateral cooperation. Photo: VGP

During the meeting, the two Prime Ministers highly valued the successful cooperative results between Vietnam and Laos, with the great friendship, special solidarity and comprehensive collaboration are increasingly strengthened, playing a core and guiding the overall relations between the two countries.

The sides also supported each other at regional and international multilateral forums, and the two countries’ intergovernmental committee, co-chaired by the two Ministers of Planning and Investment, continued to effectively implement cooperation agreements in various areas.

In 2024, economic, trade, and investment cooperation between the two countries was further promoted, yielding outstanding achievements. Cumulatively, Vietnamese enterprises have invested in 267 projects in Laos with a total registered capital of 5.7 billion USD, of which approximately 2.8 billion USD has been disbursed.

Notably, Vietnam’s investment in Laos showed a sustainable upward trend, reaching 191.1 million USD in 2024, up 62.1% year-on-year. Over the past five years, Vietnamese businesses have contributed an average of 200 million USD in taxes and other financial obligations to Laos.

Amidst global and regional economic difficulties and declining consumption demand, also in 2024, bilateral trade marked a significant milestone, with a total volume surpassing 2.2 billion USD, an increase of 33.9% from 2023. Laos achieved a trade surplus with Vietnam of about 732.7 million USD. These results were thanks to contributions of Vietnamese enterprises investing and operating in Laos.

For 2025, the two Prime Ministers agreed to deepen their political and diplomatic relations in a more effective manner, maintain and improve the efficiency of existing cooperation mechanisms, effectively arrange high-level visits and meetings, and enhance the effectiveness of cooperation at all levels, sectors and localities.

They concurred to bolster defence - security collaboration, and build a Vietnam – Lao border of peace, stability, cooperation and comprehensive development.

Vietnam and Laos will further connect the two economies and promote trade and investment cooperation. Both nations strive for a 10-15% increase in bilateral trade growth in 2025 as compared to the previous year, reaching a target of of 5 billion USD in trade turnover.

Meanwhile, they will focus on addressing infrastructure connectivity challenges, and viewing agriculture and rural development as a pillar of the bilateral economic cooperation.

Priority will also be given to improving the quality of education - training cooperation and human resources development, with the Vietnamese Government continuing to providing 1,160 scholarships for Lao officials and students to study in Vietnam, while sending teachers to Laos to teach Vietnamese.

In conclusion, the two Prime Ministers affirmed to drastically direct ministries, sectors, agencies and localities and to effectively concretise the signed agreements, and continue to create optimal conditions for the business communities of both sides to cooperate in investment and business production. They expressed belief that the meeting will create new momentum for stronger, deeper, and more substantial and trustworthy cooperation between the sides, contributing to enhancing the great friendship, special solidarity and comprehensive cooperation between Vietnam and Laos in the coming time./.

Bao Linh

Ministry of Planning and Investment