Deputy Governor Nguyen Ngoc Canh accompanied the Prime Minister to attend the 48th meeting of the Vietnam - Laos Intergovernmental Committee.

On the morning of December 3, 2025, in Vientiane, Prime Minister Pham Minh Chinh and Lao Prime Minister Sonexay Siphandone co-chaired the 48th meeting of the Vietnam-Laos Intergovernmental Committee on Bilateral Cooperation. The 48th meeting has special significance as it was held right after the High-level Meeting between the two Parties, and at the time when the two countries are summarizing the 2021-2025 cooperation term and orienting the new period. On the side of the State Bank of Vietnam, Deputy Governor of the State Bank of Vietnam Nguyen Ngoc Canh attended.

Regarding economic cooperation between Vietnam and Laos in recent times, there have been new steps forward, positive changes, many difficulties and obstacles have been promptly resolved, investment and trade promotion, guidance, inspection and supervision have been strengthened. A number of large-scale projects in the fields of energy and mineral exploitation have been promoted for implementation. This has created an important driving force to promote other projects of Vietnam to invest in Laos. The two sides have also actively researched and resolved difficulties in a number of key and strategic projects.

At the meeting, Deputy Governor Nguyen Ngoc Canh delivered an important speech, emphasizing the achievements and cooperation orientations to realize the goal of connecting the two economies. In the context of Vietnam - Laos banking cooperation marking many outstanding achievements, the speech continued to affirm the pivotal role in the flow of economic cooperation between the two countries, contributing to promoting the traditional friendship and special solidarity between Vietnam and Laos.

In 2025, the two Central Banks (CBs) and commercial banks have drastically implemented solutions to promote payments using VND/LAK, to increase the independence and autonomy of the two economies and reduce dependence on other foreign currencies, and have achieved many encouraging results.

The 48th meeting of the Vietnam - Laos Intergovernmental Committee on Bilateral Cooperation

Accordingly, after more than 8 months of implementing the Project, the VND/LAK payment turnover through banks reached nearly 904 billion VND and more than 1,300 billion LAK (equivalent to 110 million USD), accounting for more than 10% of the total Vietnam - Laos payment turnover. Loan activities between the two countries in VND also recorded 04 projects with a total registered amount of about 48,055.5 billion VND, disbursed about 20,000 billion VND. The project to connect retail payments using QR codes was completed from Vietnam to Laos in January 2025 with a rapidly increasing transaction volume; at the same time, the payment direction from Laos to Vietnam has completed technical connection and will soon be officially launched, contributing to enhancing tourism and people-to-people exchange between the two countries.

Looking forward to the next phase of cooperation, the two central banks will focus on directing the banking systems of the two countries to prioritize resources to realize the Memorandum of Understanding for the 2026-2030 period, persistently pursuing the goal of increasing the proportion of local currency use in trade and investment; promoting digital transformation, and perfecting cross-border payment infrastructure connections. The two sides will continue to promote cooperation in the direction of bringing banking cooperation into greater depth and substance.

Deputy Governor Nguyen Ngoc Canh speaks at the 48th Session of the Vietnam-Laos Intergovernmental Committee on Bilateral Cooperation

The 48th meeting of the Vietnam-Laos Intergovernmental Committee on Bilateral Cooperation and high-level activities taking place on the occasion of the 50th anniversary of Laos' National Day affirmed the highest political concern and determination of the senior leaders of the two Parties and States, creating a great driving force to promote comprehensive cooperation and strategic ties between the two countries.

Source: https://thoibaonganhang.vn/pho-thong-doc-nguyen-ngoc-canh-thap-tung-thu-tuong-tham-du-ky-hop-lan-thu-48-uy-ban-lien-chinh-phu-viet-nam-lao-174660.html