Vietnam-Laos Cooperation Committee conducts mid-term review of bilateral cooperation process

On the Lao side, there was Comrade Phet Phomphiphak - Member of the Central Committee of the Lao People's Revolutionary Party, Minister of Planning and Investment, Chairman of the Laos - Vietnam Cooperation Committee as head of the delegation. Also attending was Comrade Khamphao Ernthavanh - Ambassador Extraordinary and Plenipotentiary of the Lao PDR to Vietnam.

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

Comrade Bui Dinh Long - Member of the Provincial Party Executive Committee, Vice Chairman of the Provincial People's Committee represented the People's Committee of Nghe An province to attend the conference. Also attending were leaders of a number of relevant departments and branches.

Vietnam invests in Laos in 256 projects, with total registered capital of 5.5 billion USD

At this conference, the two sides conducted a mid-term review and assessment of the implementation of the Vietnam-Laos Cooperation Agreement in 2024 and identified key contents to promote cooperation between the two countries in the last months of 2024 and discussed other important contents.

Speaking at the conference, Comrade Phet Phomphiphak - Lao Minister of Planning and Investment, Chairman of the Laos - Vietnam Cooperation Committee, said he was very happy and excited to represent the Government of the Lao PDR as well as the Ministry of Planning and Investment, in his capacity as Chairman of the Laos - Vietnam Cooperation Committee, to lead the Lao delegation to attend the conference.

Minister Phet Phomphiphak discussed some global and domestic situations of Laos that both sides were interested in, the implementation of the 2024 Cooperation Plan Agreement and the bilateral cooperation agreement for the 2021-2025 period.

In the economic sector alone, from 2021 to present, the Lao PDR has granted new investment licenses to Vietnamese enterprises to implement a number of projects in Laos with a total investment of 869.9 million USD.

In the first 6 months of 2024 alone, Laos licensed 6 projects to Vietnamese enterprises with a total capital of 339 million USD, including 1 project in the mining sector, 1 project in the electricity sector and 4 projects in the healthcare sector.

To date, Vietnamese enterprises have invested in 256 projects in Laos, with a total registered capital of 5.5 billion USD; accumulated realized capital to date has reached about 2.8 billion USD.

In particular, many investment projects of Vietnamese enterprises in Laos operate effectively, contributing positively to economic and social development, creating jobs and increasing income for thousands of workers, supplementing revenue for the Lao state budget, especially in the fields of telecommunications, banking, rubber planting and processing, food production and processing, milk, etc.

Trade cooperation between the two countries continues to increase, reaching 927.8 million USD in the first 6 months of 2024 alone, an increase of 11.1% over the same period in 2023. Of which, Laos imported 289.2 million USD from Vietnam and the value of Lao goods exported to Vietnam reached 638.6 million USD. In the period of 2021-2023, the average growth rate of trade between the two countries reached 17.7%.

Regarding cooperation in transport, communication and construction, the two sides signed a Memorandum of Understanding on feasibility studies and a number of projects are in the process of surveying the area in the field, such as the expressway connecting Vientiane - Hanoi, the Vientiane - Tha Khek - Tan Ap - Vung Ang railway... The two sides also continue to promote the implementation of agreements and protocols to implement the investment cooperation agreement to develop Vung Ang ports 1, 2 and 3...

Minister Phet Phomphiphak said that in the coming time, the two ministries need to continue to strengthen comprehensive cooperation, closely coordinate in promoting cooperation between the two countries; promote and manage investment activities of enterprises in each country; at the same time, act as a focal point to coordinate and promote enterprises that have contracts or joint venture agreements, to implement according to the set plan and resolve existing problems of licensed investment projects.

Give top priority to preserving and developing the special Vietnam-Laos relationship

Speaking at the conference, Deputy Minister of Planning and Investment of Vietnam Tran Quoc Phuong said that although the world and regional situation continues to fluctuate rapidly, complicatedly, and unpredictably, negatively affecting countries, including Vietnam and Laos, under the strong leadership and direction of the Central Committees of the two Parties and the two Governments, in the first 6 months of 2024, ministries, branches, and localities of the two sides have been proactive, active, and closely coordinated, achieving practical results.

The Agreement on the Cooperation Plan between the two countries for the first 6 months of 2024 has basically achieved its set goals, contributing significantly to maintaining political stability, socio-economic development, ensuring national defense and security in each country; continuing to consolidate and enhance the great friendship, special solidarity, and comprehensive cooperation between Vietnam and Laos.

Deputy Minister Tran Quoc Phuong emphasized that Vietnam's consistent policy is to always value and give the highest priority to preserving and developing the special Vietnam-Laos relationship, considering it a priceless asset of vital significance to the revolutionary cause of each country.

Vice Chairman of the Vietnam - Laos Cooperation Committee Tran Quoc Phuong emphasized: In the coming time, the two sides need to continue to thoroughly grasp the contents of the Agreement of high-ranking leaders, the minutes of the annual meetings between the two Politburoes; the Agreement on the Annual Cooperation Plan between the two Governments; coordinate and promote relevant ministries, branches, localities and agencies to strive to successfully complete the Agreement on the Vietnam - Laos Cooperation Plan for 2024.

Accordingly, strengthening political and diplomatic cooperation, continuing to deepen Vietnam-Laos political relations, playing an overall guiding role in bilateral relations, focusing on implementing well the Joint Statements and High-level Agreements of the two countries.

Strengthening the pillars of cooperation between the two countries in defense and security; closely coordinating, ensuring political stability, security, order and social safety in each country, especially ensuring security on the border.

At the same time, promote economic cooperation and connectivity; improve the effectiveness of cooperation areas, accordingly, in the coming time, there needs to be a breakthrough in economic cooperation and investment between the two countries, through promoting public-private cooperation to develop infrastructure, connecting the two economies, especially the Hanoi - Vientiane expressway, the Vung Ang - Vientiane railway to connect Laos to the sea, aviation cooperation, infrastructure connecting border gates.

Deputy Minister Tran Quoc Phuong also proposed to create a breakthrough in developing high-quality human resources of the two countries, considering this a key task in the relationship between the two countries in the coming time; focusing on promoting cooperation in priority areas such as high-tech industry, innovation, energy, mining, high-tech agriculture, e-commerce, etc.

Regarding trade cooperation, continue to promote the growth of trade turnover between the two countries according to the commitments signed by the two countries at the 46th Session of the Vietnam-Laos Intergovernmental Committee such as the Memorandum of Understanding on the development and connection of Vietnam-Laos border trade infrastructure and the Vietnam-Laos Trade Agreement.

Vietnam will continue to purchase electricity from Laos in accordance with the signed Memorandum of Understanding. To further promote energy cooperation, it is necessary to develop a plan for connecting the power grids between the two countries and connecting the power grids of the three countries of Cambodia-Laos-Vietnam. Continue to prioritize cooperation in education and training; in which, focus on training strategic-level officials and promising young officials; improve the quality of student selection, teaching and training at all levels.

Continue to implement measures to improve the efficiency of using Vietnam's aid capital for Laos; regularly coordinate and organize inter-sectoral working groups to inspect programs and projects using aid capital and investment projects of Vietnamese enterprises in Laos to urge the implementation to ensure the progress and quality of the projects; study ways to use this capital with other legal capital sources to invest in large, key projects that have a great impact in supporting the socio-economic development of Laos.

At the same time, strongly promote cooperation mechanisms through the Bilateral Cooperation Committee to coordinate, remove difficulties and obstacles and promote effective economic cooperation between the two countries.