Creating a breakthrough in economic and investment cooperation between Vietnam and Laos

Party Central Committee Secretary, Minister of Foreign Affairs Le Hoai Trung. Photo: VNA

The 48th meeting of the Vietnam-Laos Intergovernmental Committee, co-chaired by Politburo member and Prime Minister Pham Minh Chinh and Lao Prime Minister Sonexay Siphandone in Vientiane, has just concluded successfully. The meeting demonstrated the determination of the two Parties and two States to immediately implement the agreements of the previous High-level Meeting between the two Parties.

Party Central Committee Secretary and Minister of Foreign Affairs Le Hoai Trung said that in order to implement the results of the Session, it is necessary to first thoroughly grasp the agreements of the two Parties and the instructions of General Secretary To Lam and General Secretary and President of Laos Thongloun Sisoulith; at the same time thoroughly grasp the documents agreed upon by the two sides at the 48th Session, including: Cooperation Agreement between the Government of the Lao People's Democratic Republic and the Government of the Socialist Republic of Vietnam for the period 2026-2030; Agreement on the 2026 Cooperation Plan between the two Governments; and other agreements reached by the two sides, as well as the contents agreed upon by the two Prime Ministers.

This implementation needs to clarify all agreements, especially the new ideas proposed by the two Parties and General Secretary To Lam and General Secretary and President of Laos Thongloun Sisoulith, as well as the contents that the two Prime Ministers discussed and agreed upon.

Firstly, it is necessary to improve the effectiveness of political relations, ensure that political relations are truly solid and play a guiding role for the overall defense and security relations, thereby creating new and more firmly consolidated developments, ensuring a peaceful and stable environment for the country's development; at the same time, it is necessary to create breakthroughs in economic cooperation; expand and improve the effectiveness of cooperation in culture, education and training.

The very important idea that needs to be thoroughly understood is the breakthrough in economic and investment cooperation, especially the strengthening of economic linkages. This strengthening of linkages aims to raise the strategic level, create strategic cohesion, development goals and vision in the construction process; at the same time, promote linkages in infrastructure, energy, transportation, etc. Prime Minister Pham Minh Chinh emphasized in the meeting that changing thinking is also a very important resource.

The second is to renew the existing cooperation contents, while expanding to new fields, demonstrating the spirit of "strategic cohesion"; promoting the potential and strengths of each country, especially increasing the participation not only of the State but also of the business community in all fields.

Third is to improve the effectiveness of coordination mechanisms. As Prime Minister Pham Minh Chinh mentioned and agreed by the Lao Prime Minister, the two sides can hold regular meetings every three months. The two Ministers who co-chair the Bilateral Cooperation Committee will also meet every three months to review and assess the situation.

Fourth, the two sides discussed and agreed on key projects. In the next five years, the Party and State of Vietnam have decided to increase the level of non-refundable aid for the Lao People's Democratic Republic by 2.5 times with the common spirit of focusing on key projects, not spreading out, ensuring practical effectiveness.

According to Minister Le Hoai Trung, to achieve this, the two sides need to have a very specific implementation plan. With that spirit, the cooperation between the two Parties and the two States will create new resources for the entire development process, while ensuring national defense and security and promoting the international integration process of each country.

SONG MINH

Source: https://laodong.vn/thoi-su/tao-dot-pha-trong-hop-tac-kinh-te-va-dau-tu-viet-nam-lao-1620398.ldo