Strategic cooperation - Creating prosperous development

Prime Minister Pham Minh Chinh speaks at the Vietnam - Laos Investment Promotion Conference. (Photo: VGP/Nhat Bac)

The conference had the theme “Strategic cooperation - Creating prosperous development”. Also attending were leaders of ministries, branches and a large number of business communities of the two countries.

Regarding economic , investment and trade cooperation, economic cooperation between Vietnam and Laos has recently made new progress and positive changes. Many difficulties and obstacles have been promptly resolved. Investment and trade promotion, guidance, inspection and supervision have been promoted.

Several large-scale projects in the fields of energy and mineral exploitation have been promoted, creating an important driving force for other Vietnamese projects to invest in Laos. The two sides have also actively researched and resolved difficulties in several key and strategic projects.

With the strong direction of the two Parties, two States, two Governments, two Prime Ministers and the close coordination between the departments, ministries, branches and localities of the two countries, Vietnam-Laos economic, trade and investment cooperation in recent times has continued to develop positively and achieved many outstanding achievements: The total trade turnover of the two countries continues to record remarkable growth, in the first 11 months of 2025, it is estimated to reach 2.6 billion USD, an increase of 50.4% over the same period in 2024.

Laos has always maintained its first position among 85 countries and territories investing abroad with Vietnam, while Vietnam has now risen to become the second largest foreign investment partner in Laos.

To date, Vietnam's total registered investment capital in Laos has reached more than 6.21 billion USD (if capital mobilized in the market is included, investment by Vietnamese enterprises in Laos reaches about 8.1 billion USD).

View of the Vietnam - Laos Investment Promotion Conference. (Photo: VGP/Nhat Bac)

In the first 11 months of 2025 alone, Vietnam's investment capital to Laos reached more than 590.3 million USD, an increase of 7.5 times over the same period in 2024.

We are pleased to see that more and more projects of Vietnamese enterprises are operating effectively, making positive contributions to the socio-economic development of Laos in most fields; at the same time creating jobs and improving the material and spiritual life of hundreds of thousands of Lao workers; supplementing the revenue for the Lao state budget (an average of 200 million USD per year) and continuing to increase in the coming years when many large investment projects are completed and put into operation.

At the Conference, Deputy Prime Minister of Laos Saleumxay Kommasith, Chairman of the Laos - Vietnam Cooperation Committee, introduced the investment environment and investment attraction policies of Laos; Minister of Finance Nguyen Van Thang, Chairman of the Vietnam - Laos Cooperation Committee, assessed the situation of Vietnam - Laos investment cooperation and cooperation orientation in 2026.

Representatives of associations and enterprises shared about opportunities, orientations, specific cooperation and investment projects in the fields of electricity, rubber, agricultural processing, chemicals - minerals..., especially the implementation of key transport infrastructure projects connecting Vietnam and Laos, specifically the Hanoi - Vientiane expressway project and the Vung Ang - Vientiane railway.

Speaking at the Conference, announcing the results of the high-level meeting between the two Parties and the State visit to Laos by General Secretary To Lam, Prime Minister Pham Minh Chinh said that the very important direction of the two General Secretaries is to focus on promoting economic cooperation between the two countries to contribute to achieving the strategic goals set for each country, specifically from 2026, Laos will achieve economic growth of 6% per year and Vietnam will achieve economic growth of over 10%.

Lao Prime Minister Sonexay Siphandone speaks at the Vietnam-Laos Investment Promotion Conference. (Photo: VGP/Nhat Bac).

The leaders of the Party and State of the two countries, especially the two General Secretaries, hope that the business community will develop and cooperate effectively, sustainably and healthily. To implement this orientation, the 48th Meeting of the Intergovernmental Committee of the two countries agreed to step up support and assign tasks to businesses, expecting that businesses will be the most important driving force to promote economic, investment and trade cooperation between the two countries.

"Business development is the development of two countries, successful businesses are two successful countries," said the Prime Minister.

Informing that the major policy of the two countries' senior leaders is to deepen the connotation of Vietnam - Laos relations to a new height of "Great friendship, special solidarity, comprehensive cooperation, strategic connection", the Prime Minister asked businesses to contribute to renewing and supplementing these connotations in the bilateral relationship, especially the connotation of "strategic connection", including connecting businesses and connecting the two economies.

Emphasizing the viewpoint that "resources originate from thinking and vision, motivation originates from innovation and creativity, strength originates from people and businesses", the Prime Minister said that State agencies need to promote their creative role, promoting three strategic breakthroughs including open institutions, smooth infrastructure, and smart governance.

"A creative state, pioneering enterprises, public-private partnership, Laos-Vietnam development, happy people," said the Prime Minister.

Leaders of Vietnamese ministries and sectors attend the Vietnam - Laos Investment Promotion Conference. (Photo: VGP/Nhat Bac)

Affirming the determination of the two Parties and two States to support businesses, the Prime Minister emphasized the spirit of the Government and state management agencies to serve businesses, "listen, understand, share vision and action, work together, win together, enjoy and develop together, share joy, happiness and pride", "do not say no, do not say difficult, do not say yes but do not do" in creating conditions and opportunities for businesses.

The Prime Minister said that, with the spirit of valuing intelligence, saving time, making timely and effective decisions, entities must respect, cherish and effectively exploit each initiative and suggestion from businesses and people to serve development, without being perfectionist, hasty and missing opportunities.

Stating that in the past, the two sides have always stood side by side against powerful enemies, with the people's hearts, will, determination and perseverance, the Prime Minister said that in today's economic, trade and investment cooperation, there must be the idea of "turning nothing into something, turning difficult into easy, turning impossible into possible", sharing and overcoming difficulties and challenges.

Regarding specific issues, the Prime Minister suggested that the two sides coordinate to focus on developing strategic infrastructure connecting Vietnam and Laos, connecting Laos with Vietnam's Vung Ang and Cua Lo ports; welcome Vietnamese state-owned economic groups and private enterprises to invest and cooperate in Laos in projects such as Viettel, TKV Group, Petrovietnam, EVN, Rubber Industry Group, Chemical Group, Vinamilk, Truong Hai Group (THACO), Viet Phuong, TH True Milk...; hope that Laos will continue to support, assist, and prioritize Vietnamese enterprises to cooperate and invest in Laos. Vietnam welcomes and is ready to welcome Lao investors to Vietnam; at the same time, soon increase two-way trade turnover to 5 billion USD and towards 10 billion USD/year.

Leaders of Vietnamese corporations and enterprises speak at the Conference. (Photo: VGP/Nhat Bac)

The Prime Minister hopes that businesses of the two countries will act with a long-term vision, think deeply and do big; emphasizing that business must be calculated and profitable, but at the same time it is necessary to promote the spirit of "from heart to heart", the great friendship between Vietnam and Laos, on the basis of overall interests between the two countries and two peoples; having done well, they must do even better, double or triple in the coming years.

Informing that Government agencies will review the progress of work and projects every three months, the Prime Minister called on businesses ready to invest in the two countries to have high determination, great efforts, and drastic actions. What they say must be done, what they commit to must be done, and what they do must have results, specific products, and can be measured.

The Prime Minister believes that with the determination of the leaders, people and business communities of the two countries, the Vietnam-Laos relationship will certainly develop to new heights, for the strength, prosperity, well-being and happiness of the two countries and two peoples.

For his part, Lao Prime Minister Sonexay Siphandone said that despite the difficult situation, the Lao economy continues to grow, with an expected growth of 4.8% in 2025 alone, and the macro-economy is basically stable. The two Parties, States, and Governments of Vietnam and Laos have always paid close attention to and directed economic, trade, and investment cooperation activities in all fields.

The Lao Prime Minister said that Laos always welcomes and creates favorable conditions for Vietnamese investors in potential fields such as electricity, transport infrastructure, high-tech agriculture, tourism, finance, banking, etc.

The two Prime Ministers witnessed the handover ceremony of cooperation agreements between ministries, sectors and enterprises of the two countries. (Photo: VGP.Nhat Bac)

Agreeing with Prime Minister Pham Minh Chinh's opinions on major orientations, the Lao Prime Minister emphasized a number of important priorities such as infrastructure connection projects between the two countries, especially railway and highway projects, connecting Laos with Vietnamese seaports, developing industrial parks, mineral processing, carbon credit sectors, etc. To facilitate investment attraction, including investment from Vietnam, Laos has and will continue to improve legal regulations, reduce regulations, promote digital transformation, promote public-private partnership, build a transparent business environment, etc.

Informing about Laos' strategic development goals in the coming years, including getting out of underdevelopment by 2026 and becoming an upper middle-income country by 2055, the Lao Prime Minister said that businesses need to promote initiatives, intelligence, and new development drivers to contribute to implementing the development policies and strategies of the two countries. The Lao Prime Minister also asked Vietnamese ministries and sectors to continue supporting and exchanging experiences in implementing investment projects, connecting domestic economic sectors and foreign investment.

The Lao Prime Minister hopes that bilateral economic, trade and investment cooperation will continue to develop strongly, commensurate with the "great friendship, special solidarity, comprehensive cooperation and strategic connection" between the two countries, and together move towards socialism.

* This is the final activity of Prime Minister Pham Minh Chinh and the Vietnamese delegation during their working trip to attend the High-level Meeting between the Communist Party of Vietnam - Lao People's Revolutionary Party and co-chair the 48th Meeting of the Vietnam-Laos Intergovernmental Committee.

After this event, the Prime Minister and the Vietnamese delegation left Vientiane for Hanoi, successfully concluding the working trip from December 2 to 3 at the invitation of Lao Prime Minister Sonexay Siphandone.

Ha Thanh Giang

Source: https://nhandan.vn/hop-tac-chien-luoc-kien-tao-phat-trien-thinh-vuong-post927557.html