Deputy Minister of Planning and Investment Tran Quoc Phuong, Vice Chairman of the Vietnam - Laos Cooperation Committee, said the two sides have basically achieved the six-month targets set in this year’s cooperation plan, thus substantially contributing to political stability, socio-economic development, and defense - security safeguarding in each country, along with the great friendship, special solidarity, and comprehensive cooperation between the two countries.
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The conference held in Nghe An province on August 16 |
Bilateral relations have been growing well, he noted, elaborating that their political trust has been unceasingly consolidated as seen in frequent meetings in various forms, especially President To Lam’s visit to Laos on July 13-14, and Vietnam’s active support for Laos to hold the ASEAN Chairmanship 2024, the 45th General Assembly of the ASEAN Inter-Parliamentary Assembly (AIPA), and other high-level meetings.
Defense and security cooperation has continued to be carried out properly, helping maintain political stability, defense, security, and social order and safety in each nation. The shared borderline remains stable. The two sides have also worked together to effectively fight hostile forces and transnational crimes.
Meanwhile, he added that more progress has been recorded in investment partnerships. Many investment projects of Vietnamese businesses in Laos are operating efficiently, thereby contributing to local socio-economic development, especially in the fields of telecommunications, banking, rubber cultivation and processing, along with food and milk production.
The two governments have also issued strong directions to tackle difficulties facing their businesses. In the first seven months of 2024, Vietnam’s registered investment in Laos increased 39.5% year on year to USD 36.7 million. Bilateral trade in this year’s first half rose 11.1% to reach USD 927.8 million, comprising USD 289.2 million in Vietnam’s exports to and USD 638.6 million in imports from Laos, respectively up 7.4% and 12.9%.
In terms of transport and construction cooperation, the two sides inked memorandums of understanding on feasibility studies while field surveys are being conducted for some projects such an expressway linking Vientiane and Hanoi and the Vientiane - Tha Khek - Tan Ap - Vung Ang rail route. They are also stepping up the implementation of the agreements and protocols on investment cooperation to develop Terminals 1, 2, and 3 of Vung Ang Port, according to Phuong.
Lao Minister of Planning and Investment Phet Phomphiphak, Chairman of the Laos - Vietnam Cooperation Committee, shared views on some international and domestic issues of common concern, as well as the implementation of the cooperation plans for 2024 and 2021-2025.
At the meeting, Phuong affirmed Vietnam’s consistent policy of attaching importance to and giving the top priority to the maintenance and development of the two countries’ special ties.
He held that in the time ahead, both sides should continue grasping the content of their high-ranking leaders’ agreements, the minutes of the two Politburos’ annual meetings, and the annual cooperation plan between the two governments. They should also work together to augment ministries, sectors, localities, and agencies’ efforts to carry out this year’s cooperation plan.
Vietnam and Laos should keep enhancing political and diplomatic collaboration so as to substantively intensify the political relationship to outline the general orientation for bilateral ties, he noted.
In addition, they need to promote the cooperation pillar of defense - security; coordinate closely to maintain political stability, security, and social order and safety in each country, particularly along the borderline; foster economic connectivity; and improve cooperation effectiveness in other spheres, Phuong said.
Source: VNA