Lao-Vietnam 47th Inter-Governmental meeting outlines measures to deepen bilateral ties

Those in attendance also included Nguyen Chi Dung, Minister of Planning and Investment and Chairman of the Vietnam-Laos Cooperation Committee; Phet Phomphiphak, Minister of Planning and Investment and Chairman of the Laos-Vietnam Cooperation Committee, along with ministers, leaders of various sectors, localities, and businesses from the two countries.

At the meeting,  PM Sonexay Siphandone emphasized that despite numerous challenges, through the implementation of directives from the two Politburos and with the high determination and joint efforts of both governments, ministries, and localities, Vietnam and Laos have rigorously and effectively carried out high-level agreements.

This has led to plenty of achievements in bilateral cooperation, contributing to the development of independent, self-reliant economies with substantive and broad international integration, marked by notable and commendable outcomes. The two PMs expressed satisfaction with the successful cooperation across multiple fields.

The great friendship, special solidarity, and comprehensive cooperation between Vietnam and Laos are continuously developing and deepening, fostering close trust and playing a central role.

The two PMs expressed satisfaction with the successful cooperation across multiple fields, while the great friendship, special solidarity, and comprehensive cooperation between Vietnam and Laos are continuously developing and deepening, fostering close trust and playing a central role.

This relationship remains a cornerstone in shaping the overall strategic direction of their bilateral ties, providing effective mutual support at multilateral and regional forums. The Inter-Governmental Committee, co-chaired by the two ministers of Planning and Investment, has effectively accelerated the implementation of cooperation agreements across sectors.

Closer defence and security cooperation has helped maintain political stability and public order in both nations, while ensuring a peaceful, stable, and comprehensively developed Vietnam-Laos border. Joint efforts have effectively combated various crimes, particularly transnational crimes.

In 2024, great attention was given to economic, trade, and investment cooperation, which yielded remarkable results.

To date, Vietnamese enterprises have invested in 267 projects in Laos with a total registered capital of US$5.7 billion, of which approximately US$2.8 billion has been disbursed. Notably, Vietnamese investment in Laos has shown signs of recovery with a more sustainable direction.

In 2024, registered investment capital reached US$191.1 million, a 62.1% increase compared to 2023. Over the past five years, Vietnamese businesses have contributed an average of US$200 million annually in taxes and other financial obligations to the Lao government.

Under the challenging global and regional economic landscape and declining consumer demand, Vietnam and Laos marked a significant milestone in their bilateral trade in 2024, with total trade turnover exceeding US$2.2 billion, an increase of 33.9% compared to 2023. Notably, Laos achieved a trade surplus of approximately US$732.7 million with Vietnam. This outcome was largely attributed to the significant contributions of Vietnamese businesses investing and operating in Laos.

For cooperation priorities in 2025, the two sides consented to focus on effectively implementing the joint declarations and agreements signed at the 47th meeting. Strong and practical measures will be introduced to deepen political and diplomatic relations, strengthen the pillars of defence and security cooperation, and continue prioritizing education and training collaboration. Regarding economic cooperation, the two sides agreed on the following main points:

Firstly, intensify efforts to deepen political and diplomatic relations, achieving greater efficiency and providing a strategic framework for Vietnam-Laos cooperation. Both sides will maintain and enhance the effectiveness of cooperation mechanisms, organize high-level visits and exchanges flexibly and efficiently, and improve the practical impact of collaboration across all sectors and localities.

Secondly, continue close cooperation in defense and security, striving to build a peaceful, stable, cooperative, and comprehensively developed Vietnam-Laos border.

Thirdly, strengthen the connection between the two economies and promote Vietnam-Laos trade and investment cooperation. This includes organizing meetings between Lao government leaders and the Vietnamese business community, reviewing and assessing Vietnamese investment projects in Laos, and urging the Lao government to provide favorable conditions for major Vietnamese projects. Adjustments to investment timelines for hydropower and mining projects will also be considered to suit new circumstances. Both sides aim to achieve a 10-15% growth in bilateral trade turnover in 2025 compared to 2024, address challenges in infrastructure connectivity, and prioritize agriculture and rural development as a pillar of economic cooperation.

Finally, continue prioritizing and enhancing the quality of education and training collaboration. Vietnam will provide 1,160 scholarships for Lao officials and students to study in Vietnam and continue dispatching Vietnamese teachers to Laos for Vietnamese language instruction.

In conclusion, both PMs emphasized the need for ministries, localities, businesses, and related agencies to coordinate closely and effectively implement agreed commitments. Both sides reaffirmed their determination to create the most favorable conditions for businesses of the two countries to strengthen cooperation in investment and business activities.

They expressed confidence that the success of the meeting would provide new momentum for bilateral relations, fostering deeper, more practical, and effective cooperation. This will further consolidate the great friendship, special solidarity, and comprehensive cooperation between Vietnam and Laos in the coming time.