New milestones in Vietnam-Laos comprehensive cooperative relations

Nowadays, joint ties have entered a new page in history under fresh conditions with more substantive co-operation contents and co-operative efficiency being continuously improved.

A total of 46 years ago, former Prime Minister Pham Van Dong and Laotian President Kaysone Phomvihane signed the Vietnam - Laos Treaty of Friendship and Cooperation, a document of great historical significance, thereby marking a new and comprehensive development of the special relationship.

The treaty serves as a solid legal basis for strengthening and expanding the special relationship between the two countries ahead in the new period, as well as accelerating the signing of a series of co-operation agreements in the future.

Mutual relations over recent years have achieved many positive results, making important contributions to maintaining political stability, socio-economic development, and bringing about many practical benefits to people of the two countries.

Political-diplomatic relations continue to be tightened and increasingly trusted through maintaining high-level exchange visits on all channels, such as the official friendship made visit to Laos by President Vo Van Thuong in April, Prime Minister Pham Minh Chinh’s official visit to Laos in January, and the official friendship visit to Vietnam in May by General Secretary and President of Laos Thongloun Sisoulith.

During these talks and meetings, both nations’ leaders held confident, honest, and frank discussions on orientations and measures aimed at promoting all fields of co-operation, affirming that in the current situation, the two countries need to strengthen consultations, exchange experience, offer mutual support to overcome challenges, and jointly build an independent, self-reliant, and co-operative economy towards extensive international integration.

The two sides have therefore closely co-ordinated in regional and international issues of mutual concern as well as offering support each other at multilateral forums, especially at the UN, ASEAN, and sub-regional mechanisms.

Lao Deputy Foreign Minister Thongphane Savanphet said that although Laos and Vietnam were both impacted by both the COVID-19 pandemic and the global economic crisis, the two countries have increasingly worked together in a bid to promote economic, trade, investment co-operation, and tourism.

The two sides also continue to discuss areas of collaboration, such as human resource development, infrastructure, and health care, especially promoting the tradition of special Laos-Vietnam relationship. In addition, a series of topics have been included in teaching at academies and schools in a bid to help young people understand more about the importance of the special relationship that exists between the two countries, he added.

According to Laotian Deputy Foreign Minister Thongphane Savanphet, Vietnam-Laos relations are on the right track of development, with a host of bilateral co-operation agreements signed by Party and State leaders of the two countries being actively implemented and achieving many important results across a multitude of fields.

Defence-security linkages continue to be an important pillar in the Vietnam-Laos relationship. Indeed, a series of agreements between the ministries of defence and public security are being competently implemented based on close ties in border management and protection as a contribution to maintaining political stability, security, and social order of each country.

Economic, trade, and investment co-operation continue to be promoted, with last year’s bilateral trade turnover reaching US$1.703 billion, up 24.1% compared to 2021.

In particular, the first five months of the year saw bilateral turnover hit US$701.42 million, up 1.57% on-year.

Moreover, Vietnamese investment in Laos has seen remarkable changes, with the total registered investment capital of Vietnamese enterprises in Laos reaching over US$180 million in 2022, marking an increase of 52.5% compared to 2021.

Particularly, the first half of the year saw four newly-licensed projects and two projects record adjusted capital increases valued at US$26.3 million, making Vietnam the third largest investor in the neighouring country.

Since the beginning of the year, the two sides have inaugurated and handed over a number of projects funded by the Vietnamese Government to the Laotian Government, such as the inauguration of the Laos – Vietnam friendship hospital in  Xiengkhouang province, along with the Lao People's Army Boarding School of Ethnic Culture and many other projects which are expected to be completed this year.

Lao Minister of Planning and Investment Khamjane Vongphosy said that many Vietnamese investment projects have operated effectively, thereby making positive contributions to boosting socio-economic development, creating jobs, and raising incomes for thousands of workers, thus supplementing Laos' state budget revenue.

Co-operation in education, training, culture, and tourism continues to be strengthened, especially after the two countries have fuly controlled the pandemic and resumed all activities.

This year also sees Vietnam continue to offer Laos 1,100 scholarships to help Laotian students pursue their studies in Vietnam, while the neighbouring country offers Vietnam 60 scholarships.

There are roughly 14,000 Laotian students studying in the nation, whilst collaboration between bordering localities continues to be strengthened, especially in infrastructure construction, medical care, training, and human resource development.

Despite having plenty of opportunities and facing intertwined difficulties and challenges, under the clear-sighted leadership of the Communist Party of Vietnam and the Lao People's Revolutionary Party, the great friendship, special solidarity, and comprehensive ties will continue to be consolidated and elevated to new heights for both nations’ development and prosperity.