Laos cooperation

Lao Minister of Planning and Investment, Chairman of the Lao-Vietnam Cooperation Committee Khamjane Vongphosy stated: "The Lao-Vietnamese cooperation in all fields is strengthening and is at an unprecedented high level in the history of relations between the two countries...".

Lao Minister of Planning and Investment, Chairman of the Lao-Vietnam Cooperation Committee, Khamjane Vongphosy.

According to Lao Minister of Planning and Investment Khamjane Vongphosy, Laos and Vietnam are close neighbors with a long tradition of cooperation, mutual assistance, and support throughout the long history of the revolutionary struggle for independence and national unification, as well as in the protection, construction, and development of each country to this day.

"A grain of salt is split in two, a stalk of vegetable is broken in half."

During the struggle against a common enemy, the two nations stood shoulder to shoulder, sharing joys and sorrows, loving each other like brothers in a family, in the spirit of "sharing even a grain of salt or a stalk of vegetable." To this day, the close bond and cooperation in all fields between the two countries continue to strengthen and are at an unprecedented level in the history of bilateral relations.

Minister Khammane emphasized that, under the close leadership and guidance of the two Parties and States, the ministries, sectors, and localities of the two countries have proactively coordinated and actively implemented the Agreement on the 10-year Cooperation Strategy (2021-2030); the 5-year Cooperation Agreement (2021-2025) and the phased cooperation plans of both sides effectively in all fields, making an important contribution to maintaining political stability, ensuring national defense and security, and socio-economic development of each country; and further strengthening and expanding the great friendship, special solidarity, and comprehensive cooperation between the two brotherly nations of Laos and Vietnam.

According to Minister Khammane, over the years, the Vietnamese Government has provided enormous support to the Lao Government, with approximately one-third of this funding used for human resource development and the remainder allocated to other projects, including poverty reduction projects.

Extensive in all fields

Furthermore, the two countries have strengthened extensive cooperation in all fields, as agreed upon by both sides in each stage and period. Particularly noteworthy is the economic sector, where both sides have actively implemented agreements between the two governments. The annual meetings of the two intergovernmental cooperation committees have become increasingly comprehensive and in-depth. Both sides have also actively pursued foreign trade cooperation, resulting in a steady increase in the value of bilateral trade over the years.

The Lao Minister of Planning and Investment stated that Vietnam currently has over 400 FDI projects in Laos, and these projects have been contributing to the economic and social development of Laos, especially projects in remote areas, such as infrastructure, transportation, social welfare, education, and culture, helping to gradually improve the lives of the Lao people.

Chairman of the Lao-Vietnamese Cooperation Committee, Khamjane Vongphosy, also highly appreciated the connection between the Lao and Vietnamese economies, stating that in recent years, the two sides have supported each other in building independent and self-reliant economies, effectively integrating into the international community; strengthening the connection between the two economies, especially in trade, investment, finance, transportation infrastructure, energy, telecommunications, tourism... in order to expand the scope of cooperation and development between the two countries, and at the same time contribute to linking and integrating with countries in the region for further development.

The Lao government is also focusing on implementing plans to develop transportation and energy infrastructure projects to strengthen investment and business cooperation between Laos and Vietnam, aiming to create maximum benefits for both countries, such as the Laos-Vietnam railway project and the Vientiane-Hanoi expressway…

According to Mr. Khamjane, under the direction of the high-level leaders of both countries, both sides have been strengthening efforts to encourage Vietnamese businesses to invest in Laos, especially focusing on attracting corporations and companies with strong financial and professional capabilities, prioritizing investment in clean agriculture, processing industries, and potential areas along the Laos-Vietnam border; developing cultural tourism, nature conservation, including developing clean energy sectors in which Laos has great potential such as wind energy, hydropower, and solar energy…

The Lao Minister of Planning and Investment emphasized that, in recent times, the Lao government has prioritized improving the investment and business environment by eliminating unnecessary steps and procedures in the licensing of domestic and foreign investments, aiming to shorten the investment approval process, along with creating transparency at each level of management and a favorable environment for investment and trade. He affirmed that this improvement will build confidence among Vietnamese investors, making it easier for them to invest in Laos, expand production facilities in Lao production areas, and participate more easily in the free trade zone.

The Lao Minister of Planning and Investment highly appreciated the fact that Vietnamese investors have recently decided to invest in clean, environmentally friendly agriculture in remote areas of Laos where transportation and other infrastructure are still difficult to access.

Reasons for bonding

Explaining why Laos consistently attracts the most FDI from Vietnamese businesses investing abroad, the Chairman of the Laos-Vietnam Cooperation Committee stated: “Besides the geographical location with mountains and rivers connecting the two countries, the reason is that Laos and Vietnam have a great friendship, special solidarity, and comprehensive cooperation spanning many decades. Importantly, in my opinion, Vietnamese businesses and ministries have been, are, and will continue to uphold President Ho Chi Minh's teaching, 'Helping a friend is helping oneself.'"

This is why Vietnamese businesses, despite facing many difficulties, have decided to invest in Laos to help the country, not only in urban areas but also in remote and disadvantaged regions, not just for profit but also because of the good political relations between the two countries.”

Source: https://baoquocte.vn/quan-he-hop-tac-lao-viet-dang-o-muc-cao-chua-tung-co-trong-lich-su-241501.html