Laos, Vietnam look to fruitful investment cooperation at 2025 conference

The 2025 Vietnam-Laos Investment Cooperation Conference is viewed as an important event for both countries to review the results of investment cooperation in 2024, discuss solutions for the 2025 Cooperation Plan recently approved by the two governments, and listen to the opinions and proposals of businesses from both countries.

In his speech, PM Pham Minh Chinh shared global and domestic developments, noting that the world is undergoing globalization, international integration, political multi-polarity, and economic-cultural diversification. He emphasized that all nations need to collaborate and fight for mutual benefits and shared prosperity.

He underscored that the Vietnam-Laos relationship is unique, symbolized by the phrase “sharing rice grains and vegetables” and “together along the Truong Son mountain range,” which necessitates special treatment mechanisms between the two nations, from heart to heart, with mutual responsibility.

With the motto "helping your friend is helping yourself," the cabinet leader  called on the two countries' businesses to unite, assist each other to progress, listen and understand each other, work together, win together, develop together, and share in joy, happiness, and pride.

He stressed that having already achieved unity, the two countries must reinforce that unity, with businesses also prioritizing the common development of both nations and placing mutual interests above all else. This reflects the tribute to those who sacrificed for the independence and freedom of both countries.

Chinh pointed out that Vietnam and Laos have favorable locations, with mountains and rivers linked, and cultural and human potential. However, their development has not yet matched their potential, advantages, and opportunities.

Moving forward, the Vietnamese Government chief called for high determination, great efforts, clear assignment of tasks and responsibilities, with a focus on resolving institutional and infrastructure issues, particularly transportation, and addressing port issues like Vung Ang. The emphasis will be on connecting supply chains, input materials, and linking businesses together while expanding the two countries' markets.

He also urged ministries and agencies to continue reducing administrative procedures, decentralizing power to localities to facilitate citizens and businesses and reduce input costs. He underlined the need to mobilize all resources for development, highlighting the importance of innovation-driven growth, especially in new growth areas such as digital economy, green economy, and the Internet of Things.

Chinh emphasized that time, wisdom, and decisiveness create success, adding that businesses investing in Laos also invest in Vietnam, and vice versa. Investments and business operations between the two countries are not only about financial transactions but also about mutual trust, respect for previous generations' sacrifices, and reinforcing the great friendship between the two nations.

Regarding proposals from businesses, he stated that issues should be resolved where they arise, without avoiding responsibility, and that ministries, agencies, and localities in both countries must solve them with full responsibility, in line with the great friendship between the two countries.

For his part, Lao PM Sonexay Siphandone mentioned that in the coming time, both sides will continue to handle bottlenecks and implement infrastructure projects such as roads, railways, the Vung Ang port, and agricultural product supply projects. He expressed hope that businesses from both countries will continue to invest and expand operations in Laos and Vietnam, leveraging the strengths of both sides to bring happiness and prosperity to their people.

At the conference, 13 investment certificates and agreements were exchanged between businesses from both countries. Vietnam granted adjusted certificates for 3 Vietnamese businesses with investment projects in Laos.

Laos issued 4 certificates, contracts, and investment permits to Vietnamese businesses with projects in Laos. Additionally, businesses from both sides exchanged 6 cooperation agreements in fields such as aviation, finance, energy, agriculture, and human resources training.