On January 9, in Vientiane, Laos, Vietnamese Prime Minister Pham Minh Chinh and Lao Prime Minister Sonexay Siphandone co-chaired the 47th meeting of the Vietnam-Laos Intergovernmental Committee on Bilateral Cooperation.

This high-level meeting, attended by senior leaders, government officials, and business representatives from both nations, highlighted the enduring partnership and outlined ambitious goals to strengthen ties, including achieving $5 billion in annual bilateral trade.

Deepening economic and political cooperation

Prime Minister Pham Minh Chinh expressed his gratitude for the warm and brotherly reception from his Lao counterpart and commended Laos on its socio-economic achievements in 2024.

Both leaders acknowledged the challenges of global economic uncertainty but celebrated the progress achieved through their strategic cooperation.

In 2024, bilateral trade between Vietnam and Laos reached $2.2 billion, a nearly 34% increase compared to 2023. Notably, Laos achieved a trade surplus of approximately $732.7 million with Vietnam, marking significant strides in their economic collaboration.

Vietnamese enterprises have cumulatively invested in 267 projects in Laos, with total registered capital of $5.7 billion and realized capital of $2.8 billion. In 2024 alone, new investments from Vietnam in Laos totaled $191.1 million, a 62.1% increase from the previous year.

Strategic priorities for 2025

The two prime ministers emphasized the importance of achieving key goals for 2025, focusing on robust political, economic, and educational collaboration.

One of the most critical initiatives is the promotion of major infrastructure projects, such as the Hanoi-Vientiane Expressway and the Vung Ang-Vientiane Railway. These projects aim to transform Laos from a landlocked nation into a regional connectivity hub.

Both countries agreed to explore funding options, including central and local budgets, international aid, preferential loans, and private sector involvement, to expedite the completion of these projects.

Trade and investment will also remain priorities, with efforts to grow bilateral trade by 10–15% in 2025. Agriculture and rural development are expected to play a central role, while initiatives to facilitate local currency transactions between the two countries will be pursued.

Vietnam committed 1,160 scholarships for Lao students and officials, alongside continuing to send Vietnamese teachers to Laos to support education and language training.

Cultural and regional collaboration

Beyond economics, the two countries will enhance cooperation in cultural exchanges, tourism, and youth engagement.

Promoting the "One Journey, Three Destinations" campaign, which links Vietnam, Laos, and Cambodia, will be a focus to attract regional and international tourists.

The two nations also plan to strengthen their partnership on multilateral platforms, ensuring mutual support in international and regional forums.

The meeting concluded with both leaders witnessing the signing of several key agreements, including:

The minutes of the 47th Intergovernmental Committee meeting.

The 2025 cooperation plan between the governments of Vietnam and Laos.

An agreement on coal-fired electricity trading between the two governments.

A cooperation plan between the Vietnamese Ministry of Education and Training and the Lao Ministry of Education and Sports for 2025.

Both leaders expressed confidence that the success of this meeting would provide renewed momentum for their relationship, paving the way for deeper, more effective, and more reliable cooperation in the future.

VGP