Vietnam and Laos strengthen connectivity and support each other to build independent and self-reliant economies.

Prime Minister Pham Minh Chinh and Lao Prime Minister Sonexay Siphandone co-chaired the 45th meeting of the Vietnam-Laos Intergovernmental Committee on Bilateral Cooperation - Photo: VGP/Nhat Bac

The two sides highly appreciated and were pleased with the results of comprehensive cooperation between the two countries in 2022. In the context of many difficulties and challenges, thanks to the thorough understanding of the directions of the two Politburoes, together with the great efforts and determination of the State, Government, ministries, departments, branches and localities, the two sides have seriously and effectively implemented high-level agreements.

Since the beginning of 2022, the two governments have focused on directing the implementation of cooperation agreements, concretizing them through the Government's work program and many policies and directive documents; the implementation has basically achieved the set goals. Cooperation in the fields of politics, foreign affairs, national defense and security, economy, socio-culture, education, and people-to-people exchange has been increasingly strengthened and developed more practically and effectively.

The political relations between the two countries are increasingly deepening, close, and trusting, playing a core role in guiding the overall relations between the two countries. The "Vietnam-Laos, Laos-Vietnam Solidarity and Friendship Year 2022" was successfully organized, creating new momentum and spirit in strengthening the great friendship, special solidarity and comprehensive cooperation between the two Parties, two countries, and two peoples. Defense and security cooperation between the two countries continues to be maintained, tightened, and developed as an important pillar in the relationship between the two countries.

In the economic field, the two sides actively shared experiences, management solutions, and macroeconomic stability. Trade cooperation was a bright spot, with two-way trade turnover exceeding the set target, reaching 1.73 billion USD, up 24% compared to 2021.

Vietnam's investment in Laos is showing signs of increasing again in a more sustainable direction. Vietnam's investment capital in Laos in 2022 reached over 180 million USD, an increase of 52.5% compared to 2021. In 2022, 5 national investment promotion conferences and forums took place; economic cooperation, trade and investment activities between localities of the two countries were also promoted.

Since the beginning of 2022, the two governments have focused on directing the implementation of cooperation agreements, concretizing them through the Government's work program and many policies and directive documents - Photo: VGP/Nhat Bac

Relevant agencies of the two countries have focused on removing difficulties and obstacles for a number of large and important investment projects, creating favorable conditions to speed up implementation progress.

Tax contributions and other financial obligations of Vietnamese enterprises to the Lao state budget in the past 5 years have reached about 200 million USD/year. Vietnamese enterprises have carried out social security activities in Laos with a budget of about more than 100 million USD.

Regarding the direction of cooperation in the coming time, the two sides agreed to focus on implementing well the joint statements, agreements of the two Politburoes, the agreement of the two Governments on the 10-year cooperation strategy for the period 2021-2030 and the Cooperation Agreement 2021-2025 and other agreements; concretizing the concluding opinions of the two Politburoes into the agreement on the Cooperation Plan between the two countries in 2023 and will organize drastic implementation from the beginning of the year to promote cooperation in all fields of politics - foreign affairs - national security and defense, investment - trade, creating new changes in economic, cultural, educational, medical and scientific and technological cooperation.

The two sides affirmed their determination and emphasized the need to support each other in building an independent and self-reliant economy associated with deep and effective international integration; strengthening connectivity and complementarity between the two economies, both in terms of hard and soft infrastructure, especially institutional, financial, transport infrastructure, energy, telecommunications, and tourism connectivity to expand the space for cooperation and development between the two countries.

At the same time, promptly detect and handle difficulties and obstacles, thoroughly resolve outstanding issues, implement key and important tasks that have a spillover effect on both countries, and complete each task thoroughly; enhance the exchange of experiences and solutions, support each other in management, macroeconomic stability, sustainable development, and improvement of the business environment; research and pilot specific mechanisms and policies on trade and investment that are suitable for the special relationship between the two countries.

The success of the meeting will create new momentum, bringing cooperation between the two countries increasingly into substance and effectiveness - Photo: VGP/Nhat Bac

The two sides agreed to promote strong growth in trade turnover, striving to continue to increase trade turnover between the two countries in 2023 by 10-15% compared to 2022; further promote energy cooperation.

Further improve the effectiveness of investment cooperation; promote Vietnamese enterprises to invest in sectors and fields that are in line with Laos' priority orientation. Quickly resolve difficulties and obstacles, promote projects using Vietnam's aid and investment projects of Vietnamese enterprises in Laos.

Focus on promoting transport infrastructure projects connecting the two countries, especially for Laos to have access to the sea, promoting international integration. Conduct a pilot study of a border gate economic zone on the East-West corridor, report to competent authorities for consideration and decision.

Continue to prioritize educational and training cooperation in the direction of focusing on high quality; apply new training models such as distance learning, joint training with third countries, etc.; focus on training leaders and managers at all levels; pay attention to vocational training.

Along with that, strengthen cooperation in sustainable management and use of water resources and natural resources; improve the efficiency of aid capital use; promote cooperation in defense and security; increase consultation and mutual support at international and regional forums; promote other areas of cooperation such as home affairs, health, information and communication, science and technology, enhance cultural, artistic, sports and people-to-people exchanges; encourage ministries, branches and localities of the two countries to expand relations and support each other.

Prime Minister Pham Minh Chinh and Lao Prime Minister Sonexay Siphandone visit a photo exhibition introducing the country, people, and the close, trustworthy, loyal, pure, and comprehensive cooperative relationship between Vietnam and Laos - Photo: VGP/Nhat Bac

The above contents have been specified in the meeting documents signed by the Chairman of the Cooperation Committee of the two countries. Immediately after this meeting, the Vietnamese Government will resolutely direct relevant ministries, branches, localities, enterprises and units to closely coordinate with Lao partners to immediately deploy and effectively implement the contents of the agreement at the meeting. The Government will also create maximum convenience for enterprises to invest and do business in the Lao market.

The two sides believe that the success of the meeting will create new momentum, making cooperation between the two countries increasingly substantive and effective, contributing significantly to consolidating and enhancing the traditional friendship, special solidarity and comprehensive cooperation between Vietnam and Laos.

* Before attending the meeting, Prime Minister Pham Minh Chinh and Lao Prime Minister Sonexay Siphandone visited a photo exhibition introducing the country, people, and the close, trustworthy, loyal, pure, and comprehensive cooperative relationship between Vietnam and Laos, jointly organized by the Vietnam News Agency and the Vietnamese Ministry of Planning and Investment.