Deputy Prime Minister Ho Duc Phoc affirmed this during a working session on August 13 with a delegation from the Central Enterprise Reform Committee of the Lao People's Revolutionary Party, led by Politburo member and Deputy Prime Minister Saleumxay Kommasith.

Welcoming the delegation, Deputy PM Ho Duc Phoc greatly valued Laos’s interest in exchanging experience with Vietnam in the management and development of state-owned enterprises, emphasizing that cooperation and experience sharing in this field are a strategic requirement to strengthen macroeconomic foundations and achieve sustainable economic development in each country.

Phoc noted that in recent years, Vietnam has carried out a series of coordinated measures, issuing and implementing numerous policies to modernize and reform state-owned enterprises in order to enhance efficiency and competitiveness. The achievements underscore the Party and State’s correct leadership approach in enterprise reform, enabling these enterprises to play a central role in the economy and contribute positively to social welfare, national defence, and security.

In response, Deputy PM Saleumxay Kommasith stressed that the visit is significant for deepening understanding and learning from Vietnam, a country that has achieved remarkable progress in reforming and improving the efficiency of state-owned enterprises, especially in the context of deep international integration.

He affirmed that state-owned enterprise reform is a key task in building an independent and self-reliant economy in Laos and expressed his hope for continued support from Vietnam, particularly in training management personnel and applying information technology in enterprise governance. He also confirmed that Laos will provide all necessary conditions for Vietnamese enterprises to invest and operate in the country.

During the working session, both sides exchanged detailed measures to bolster cooperation in state-owned enterprise reform and discussed directions for future co-operation.

They also agreed to maintain regular exchange mechanisms between relevant agencies to facilitate information sharing, experience exchange, and promote substantive cooperation that brings practical benefits to the people of both countries.

Vietnam, Laos promote payments in local currencies to boost trade

A conference was held in Vientiane on March 14 to promote the use of the Lao kip (LAK) and the Vietnam dong (VND) in payments for goods and services between the two countries.