PM receives Lao Minister of Planning and Investment

The Government leader commended the Vietnam-Laos and Laos-Vietnam cooperation committees for their efforts in the first half of 2024, helping the countries tackle numerous challenges in key cooperative projects and step up joint work in various fields.

PM Pham Minh Chinh (R) and visiting Lao Minister of Planning and Investment and Chairman of the Laos-Vietnam Cooperation Committee Phet Phomphiphak at their meeting in Hanoi on August 19. (Photo: VNA)

Bilateral trade neared 928 million USD in the period, an annual increase of 11.1%. Vietnam remains Laos’ third-largest foreign investor, boasting 255 projects worth 5.5 billion USD in total registered capital.

Noting that both governments are taking decisive actions to resolve difficulties faced by some Vietnamese-funded projects in Laos, Chinh urged the two committees to focus on thoroughly reviewing and effectively implementing the sides’ high-level agreements and the outcomes of their 46th meeting, as well as making thorough preparations for the upcoming 47th meeting.

He requested that the Lao Government continue to improve its business environment and promptly address challenges faced by Vietnamese investors, and pointed to the need to carry out administrative reforms and facilitate the implementation of ongoing projects and the launch of new ones, particularly in areas such as energy, mining, agriculture, tourism, and education. Additionally, he stressed the importance of accelerating the progress of strategic cooperation projects and those on infrastructure connectivity, as well as of enhancing locality-to-locality collaboration, particularly between border ones.

Vietnam keeps a close watch on Laos' socio-economic developments with a view to providing the nation with effective and practical support, the PM stated.

Acknowledging the complex and unpredictable regional and global situation, which necessitates solidarity among nations, he said the two countries should strengthen their cooperation to address shared challenges in ways that suit their respective conditions and needs. Vietnam is ready to assist Laos in successfully fulfilling its international responsibilities this year, including its ASEAN chairmanship.

Agreeing with his host, the Lao minister affirmed that the Laos-Vietnam Cooperation Committee will continue to work closely with the Vietnamese side to implement high-level agreements, deepening and enhancing the nations’ special solidarity toward effectiveness and practical outcomes.

The official noted that Laos is actively improving its business climate to facilitate the effective operations of foreign companies, especially those from Vietnam. He also reported that Laos is advancing key infrastructure connectivity projects that Vietnam and Laos have agreed upon, such as the Hanoi-Vientiane expressway and the Vientiane-Vung Ang railway.