Promoting cooperation in law-making in the economic and budgetary fields between the Vietnamese National Assembly and the Lao National Assembly

Attending the talks, the Lao National Assembly's Committee on Planning, Finance and Auditing included comrades: Leeber Leebouapao - Member of the Party Central Committee, Chairman of the National Assembly's Committee on Planning, Finance and Auditing; Thanta Kongphaly - Vice Chairman of the National Assembly's Committee on Planning and Finance; Amphaivone Lombounpheng - Chairman of the People's Council of Huaphan Province; Leanevilay Chanthalaphan - Vice Chairman of the People's Council of Bolikhamxay Province; Maysy Viengvilay - Chairman of the Economic, Planning and Finance Committee of the People's Council of Xieng Khouang Province and members of the delegation.

TowardThe National Assembly's Finance and Budget CommitteeVietnam has comrades:Le Quang Manh-Member of the Party Central Committee, Chairman of the National Assembly's Finance and Budget Committee;Nguyen Huu Toan-Vice Chairman of the Finance Committeemain, Budget;Nguyen Van Chi -Vice Chairman of the Finance CommitteeGovernment, Budget and comradesDoan Thi Thanh Mai-Deputy Chairman of the Economic Committeeand members of the group.

On the side of Nghe An province, there isComrades of the Provincial Party Executive Committee:Thai Thi An Chung-Deputy Head of the Provincial National Assembly Delegation;BuiDinh Long -Vice Chairman of the Provincial People's Committee;

Towards Ha Tinh provincehave comradesTran Tu Anh-Committee MemberStanding CommitteeProvincial Party Committee, Permanent Vice ChairmandirectPeople's Council of Ha Tinh province;Tran Dinh Gia-Committee MemberExecutiveProvincial Party Committee, Deputy Head of the National Assembly Delegation of Ha Tinh province.

Also attendinghave coinswillHead of Finance Departmentbudget, Economic Department of the Office of the National Assembly, Councilpeople, National Assembly Delegation, People's Committeeof Nghe An and Ha Tinh provinces.

Information on key areas of economic development

Speaking at the opening of the talks, Chairman of the National Assembly's Finance and Budget Committee Le Quang Manh informed the working delegation of the Lao National Assembly's Planning and Finance Committee about the general socio-economic and financial situation of Vietnam in the past year.

Despite facing many difficulties and challenges, in 2023, Vietnam's socio-economic situation maintained a positive trend, the macro economy was stable, inflation was under control, major balances were ensured, etc., continuing to be a bright spot in the economy in the region and the world.

The domestic economy gradually recovered and maintained positive growth momentum. For the whole year, GDP increased by 5.05%, higher than the world average growth rate (2.9%) and the ASEAN average (4.3%).

Attracting foreign investment continues to be a bright spot in the context of declining global investment capital. Total registered FDI capital in 2023 is estimated at 36.6 billion USD, up 32.1% compared to 2022.

Disbursement of public investment capital is estimated at VND625.3 trillion, up 21.2%. In 2023, 26 projects will be started and 20 projects will be completed, including many key infrastructure projects, making an important contribution to economic development in many regions and areas across the country.

Besides, the government also implements many financial policies to support businesses, such as reducing interest rates and stabilizing exchange rates, contributing to the overall economic growth of countries.

Congratulating Vietnam on its achievements in the past year, Comrade Leeber Leebouapao - Member of the Party Central Committee, Chairman of the Lao National Assembly's Planning, Finance and Auditing Committee also briefly reported on Laos' economic development and the role and activities of the National Assembly's Planning, Finance and Auditing Committee in connection with the program and content of the National agenda to resolve difficult economic issues.

The Chairman of the Lao National Assembly's Committee on Planning, Finance and Auditing proposed that the Vietnamese National Assembly's Committee on Finance and Budget discuss and share a number of issues related to the development and improvement of laws in the fields of finance and budget; the process of approving and resolving proposals from the government, businesses and people; allocating budgets for public investment projects; supplementing and amending specific economic legal regulations; inspecting, supervising and handling the implementation...

Strengthening experience exchange in law-making

In the spirit of the special friendship, solidarity and comprehensive cooperation between the two National Assemblies of Vietnam and Laos, delegates of the Finance and Budget Committee of the Vietnamese National Assembly exchanged, discussed and shared experiences in building and amending laws in the fields of economy, budget, approving public investment plans, and supervising finance and currency with the Planning, Finance and Audit Committee of the Lao National Assembly.

Thanking the opinions, exchanges and sharing of the Finance and Budget Committee of the National Assembly of Vietnam, comrade Leeber Leebouapao emphasized that this will be a valuable lesson to help Lao National Assembly Deputies in the work of building legal policies in the field of finance and budget.

Regarding the direction of cooperation in the coming time, the Chairman of the Planning, Finance and Audit Committee of the Lao National Assembly proposed that the Finance and Budget Committee continue to support and enhance exchanges to further tighten the good cooperative relationship between the two Committees, contributing to fostering the great friendship, special solidarity and comprehensive cooperation between Laos and Vietnam.

Agreeing with the proposal on the direction of cooperation between the two National Assembly Committees of the two countries, Chairman of the Finance and Budget Committee of the Vietnamese National Assembly Le Quang Manh believes that the cooperative relationship between the two Committees will increasingly develop more substantially, contributing to fostering the traditional friendship between Vietnam and Laos.

Comrade Le Quang Manh agreed to strengthen and promote cooperation between the two committees, continue to hold exchange conferences, especially within the framework of sideline activities of the upcoming Cambodia - Laos - Vietnam conference.