At the Vietnam - Laos Investment Promotion Conference, Prime Minister Pham Minh Chinh emphasized the crucial role of enterprises from both countries, considering them a key driving force for advancing economic cooperation.

Enterprises: A central engine for Vietnam - Laos economic cooperation

On the afternoon of December 3, during his working trip to Laos, Prime Minister Pham Minh Chinh and Lao Prime Minister Sonexay Siphandone co-chaired the Vietnam - Laos Investment Promotion Conference under the theme “Strategic Cooperation - Shaping Prosperous Development.”

The event gathered leaders of ministries, sectors, localities and more than 500 delegates representing associations, enterprises and investors from both Laos and Vietnam.

The conference served as an important platform for the two sides to review cooperation outcomes achieved in recent years and discuss measures to realize major orientations for economic, investment and trade cooperation for 2026 and the 2026 - 2030 period.

According to reports and opinions delivered at the event, under the strong direction of the two Parties, States and Governments, as well as the close coordination among ministries, sectors and localities, Vietnam - Laos economic, trade and investment cooperation has continued to develop positively, achieving notable breakthroughs in 2025.

Bilateral trade posted record growth in the first 11 months of 2025, reaching an estimated USD 2.6 billion, up 50.4 percent year-on-year, the highest expansion to date. Laos remains the largest overseas investment destination among 85 countries and territories where Vietnam invests, while Vietnam has become the second-largest foreign investor in Laos.

To date, Vietnam’s registered investment in Laos has exceeded USD 6.21 billion (or about USD 8.1 billion including capital mobilized in international markets). In the first 11 months of 2025 alone, Vietnamese investment reached more than USD 590.3 million, 7.5 times higher than the same period in 2024.

An increasing number of Vietnamese-invested projects in Laos have proven effective, contributing to socio-economic development across multiple sectors, creating stable jobs and improving livelihoods for hundreds of thousands of Lao workers. These projects contribute on average USD 200 million annually to the Lao state budget, a figure expected to grow as more large-scale projects are completed. Many Vietnamese enterprises have also actively fulfilled social responsibility obligations and supported local communities.

Despite global uncertainties in 2025, Vietnam has maintained macroeconomic stability, controlled inflation, ensured major economic balances and sustained growth momentum.

Entering a new development phase, Vietnam remains determined to remove institutional, human resource and infrastructure bottlenecks; mobilize and utilize resources effectively; promote economic restructuring; and accelerate growth model transformation. Science, technology, innovation and digital transformation are defined as breakthrough drivers to help Vietnam pursue its target of achieving double-digit economic growth from 2026 and becoming a high-income developed nation by 2045.

Speaking at the conference, Prime Minister Chinh conveyed the key instructions of the General Secretaries of the two Parties following recent high-level meetings, including the state visit to Laos by General Secretary To Lam. Both leaders emphasized the need to enhance economic cooperation as a pillar supporting strategic development goals: from 2026 onward, Laos aims for annual growth of at least 6 percent, while Vietnam targets over 10 percent.

The high-level leaders of both countries, especially the two General Secretaries, expect enterprises to develop strongly and cooperate effectively, sustainably and transparently. Accordingly, the 48th meeting of the Vietnam–Laos Intergovernmental Committee agreed to prioritize support for enterprises and place enterprises at the heart of bilateral economic, trade and investment cooperation.

“The development of enterprises is the development of our two nations; strong enterprises mean successful nations,” the Prime Minister stressed.

Reaffirming the shared strategic vision of elevating Vietnam - Laos ties under the framework of “great friendship, special solidarity, comprehensive cooperation and strategic linkage,” Prime Minister Chinh urged enterprises to contribute to deepening and refreshing these core values, particularly “strategic linkage,” which includes closer connections between the two business communities and the two economies.

The Prime Minister emphasized that “resources stem from vision, motivation comes from innovation, and strength originates from the people and enterprises.” He requested state agencies to step up their role as facilitators through three strategic breakthroughs: streamlined institutions, modern and interconnected infrastructure, and smart governance. “A facilitating state, pioneering enterprises, public - private cooperation, Laos - Vietnam development, and shared happiness for the people,” he affirmed.

Reiterating the commitment of the two Parties and States to support businesses, Prime Minister Chinh stressed that the Government must serve enterprises, “listening, understanding, sharing vision and action, working together, succeeding together, enjoying benefits together and advancing together.” He underscored the principle of “saying no to inaction, no to excuses, and no to making commitments without implementation.”

He called on ministries and sectors to value every idea and initiative raised by enterprises and citizens, applying them effectively while avoiding perfectionism, impatience or missed opportunities.

On concrete issues, the Prime Minister proposed that both sides focus on developing strategic connectivity infrastructure linking Vietnam and Laos, including routes connecting Laos with Vietnam’s Vung Ang and Cua Lo ports. He welcomed Vietnamese state-owned groups and private enterprises, including Viettel, Vinacomin, Petrovietnam, EVN, the Vietnam Rubber Group, Vinachem, Vinamilk, THACO, Viet Phuong and TH True Milk, in expanding operations in Laos, and asked the Lao side to continue supporting these efforts. Vietnam, in turn, is ready to welcome more Lao investors. The Prime Minister also urged the two sides to soon raise bilateral trade to USD 5 billion and then USD 10 billion annually.

The Prime Minister encouraged enterprises to adopt long-term vision, strategic thinking and responsible business practices, highlighting the importance of balancing profitability with the long-standing “heart-to-heart” spirit underpinning Vietnam - Laos' great friendship.

Prime Minister Pham Minh Chinh expressed confidence that with the determination of leaders, people and business communities of both countries, Vietnam - Laos relations will continue to rise to new heights for the prosperity and happiness of both nations.

Laos ready to open its doors wider to Vietnamese enterprises

Sharing views with Prime Minister Chinh, Prime Minister Sonexay Siphandone affirmed that Laos will continue refining its legal framework, cutting unnecessary procedures, promoting digital transformation, enhancing public - private cooperation and fostering a transparent business environment.

The Lao Prime Minister outlined Laos’ strategic development goals, including graduating from least-developed status by 2026 and becoming an upper-middle-income country by 2055. He stressed that enterprises must leverage innovation and new growth drivers to contribute to the development strategies of both countries.

He also called on Vietnamese ministries and agencies to maintain close cooperation and share experience in implementing investment projects and strengthening linkages between domestic and foreign-invested sectors.

The Lao Prime Minister expressed hope that bilateral economic, trade and investment cooperation will continue growing strongly, matching the traditional “great friendship, special solidarity, comprehensive cooperation and strategic linkage” between the two countries on the path toward socialism.

During the conference, under the witness of the two Prime Ministers, Vietnamese and Lao enterprises signed and exchanged nine cooperation documents across various sectors.

The conference marked the final event of Prime Minister Chinh’s working trip to Laos, during which he attended the high-level meeting between the Communist Party of Vietnam and the Lao People’s Revolutionary Party and co-chaired the 48th meeting of the Vietnam - Laos Intergovernmental Committee. Following the event, the Vietnamese delegation departed Vientiane for Hanoi, concluding the visit from December 2-3 at the invitation of Prime Minister Sonexay Siphandone.

Earlier the same day, the two Prime Ministers successfully co-chaired the 48th meeting of the Intergovernmental Committee, which addressed key cooperation priorities, including efforts to deepen substantive economic, trade and investment cooperation.