Prime Ministers of Vietnam and Laos co-chaired the Investment Promotion Conference

(Dan Tri) - Prime Minister Pham Minh Chinh called on Lao investors to promote and expand cooperation and investment in Vietnam; and work with Vietnamese enterprises to soon increase two-way import-export turnover to 5 billion USD.

During the working program in Laos, co-chairing the 48th meeting of the Vietnam - Laos Intergovernmental Committee on bilateral cooperation, on the afternoon of December 3, in Vientiane, Prime Minister Pham Minh Chinh and Lao Prime Minister Sonexay Siphandone co-chaired the Vietnam - Laos Investment Promotion Conference with the theme "Strategic cooperation: Creating prosperous development".

Lao Prime Minister Sonexay Siphandone welcomes Prime Minister Pham Minh Chinh to the Vietnam - Laos Investment Promotion Conference 2025 (Photo: VNA).

The conference assessed that, on the basis of good political relations, economic, trade and investment cooperation between the two countries has seen many developments. Total trade turnover between the two countries continues to record remarkable growth in the first 11 months of 2025, estimated at 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 over 6.21 billion USD.

More and more projects of Vietnamese enterprises are operating effectively, making positive contributions to Laos' socio-economic development in most fields.

However, delegates assessed that economic relations between the two countries are not commensurate with political relations and potential.

Speaking at the conference, Prime Minister Pham Minh Chinh said that General Secretary To Lam and General Secretary and President of Laos Thongloun Sisoulith had just chaired a very successful High-level Meeting between the two Parties, giving many strategic directions, including focusing on economic development, with the goal that from 2026, Laos will strive to achieve 6% growth and Vietnam will achieve a double-digit growth target.

On the same morning, Prime Minister Pham Minh Chinh and Prime Minister Sonexay Siphandone successfully co-chaired the 48th meeting of the Vietnam-Laos Intergovernmental Committee with many important cooperation contents, including promoting practical and effective economic, investment and trade cooperation between the two countries; focusing on support, work assignment and expectations for the development of enterprises - the most important driving force for economic development of the two countries.

The Prime Minister hopes that businesses of the two countries "value intelligence, save time, and make timely, effective, and decisive decisions" to expand cooperation and investment in each country.

The Prime Minister proposed that the Lao Government work together to create and serve businesses; always create the most favorable conditions for Vietnamese and Lao businesses to promote investment and business cooperation effectively, stably, long-term and sustainably.

The Prime Minister proposed enhancing connectivity and complementarity between the two economies, creating a stable and transparent legal corridor and a favorable environment; focusing on accelerating the implementation of investment projects, ensuring progress and quality; initiating new ideas and new driving forces in trade and investment cooperation; improving investment efficiency as well as the sense of responsibility of each enterprise.

The Prime Minister requested Vietnamese enterprises such as Viettel, the Coal and Minerals Group, Petrovietnam, EVN, the Rubber Industry Group, the Chemical Group, Vinamilk, Truong Hai Group (THACO), Viet Phuong, TH True Milk... to continue investing in Laos, developing transport infrastructure, airports, seaports (of Laos in Vietnam), telecommunications, energy, high-tech agriculture, mineral exploitation and processing...

Prime Minister Pham Minh Chinh called on Lao investors to promote and expand cooperation and investment in Vietnam; and work with Vietnamese enterprises to increase two-way import-export turnover to 5 billion USD soon and towards 10 billion USD in the coming time.

For his part, Lao Prime Minister Sonexay Siphandone agreed with Prime Minister Pham Minh Chinh's opinions on major orientations, emphasizing 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 fields, etc.

At the conference, witnessed by the Prime Ministers of the two countries, businesses of the two countries signed and exchanged 9 cooperation documents in various fields.

Prime Minister Pham Minh Chinh concludes his working trip to Laos (Photo: VNA).

This was the last activity of Prime Minister Pham Minh Chinh during his working trip to Laos, attending the High-level Meeting of the two Parties and co-chairing the 48th Session of the Intergovernmental Committee on Vietnam - Laos Bilateral Cooperation. On the same evening, Prime Minister Pham Minh Chinh and the Vietnamese delegation left Vientiane for home, successfully concluding the working trip.

Source: https://dantri.com.vn/thoi-su/thu-tuong-hai-nuoc-viet-lao-cung-chu-tri-hoi-nghi-xuc-tien-dau-tu-20251203221739880.htm