Vietnam and Laos need to promote the efficiency of the Intergovernmental Committee on Bilateral Cooperation while enhancing collaboration to facilitate Vietnamese enterprises’ operations in Laos, which help boost investment and trade between the two countries.

Vietnamese, Lao ministries of planning and investment hold talks in Hanoi on June 17.

Minister of Planning and Investment Nguyen Chi Dung made the statement during his talks with his Lao counterpart Suphan Keomisay in Hanoi on June 17.

Minister Dung stressed that Vietnam is giving top priority to stabilising the macroeconomy, curbing the inflation rate, improving the business climate and increasing the national competitive capacity in a bid to build the country as an industrialised nation.

Vietnam and Laos have enjoyed sound relations in the past years with the implementation of bilateral agreements, the minister noted, congratulating Laos on the country’s recent achievements.

He said that he was impressed by the neighbouring country’s seven ambitious strategic development priorities to 2030, believing that the Government and people of Laos will accomplish their set targets.

Vietnam’s Ministry of Planning and Investment will support Laos to realise its goals, Dung affirmed.

For his part, Lao Minister Suphan Keomixay said that the country has enjoyed stable politics and security as well as steady economic growth.

Laos attracted 3.5 billion USD in foreign investments during 2014-2015, he said, highlighting that with 4.9 million USD poured into Laos, Vietnam has become the third largest investor among 53 countries and territories landing investment in the country.

He underscored that Laos is striving to become an upper middle income nation by 2030.

He hoped that the two ministries will continue to review and effectively implement the signed projects during 2016-2020.

PM urges ministries of Vietnam, Laos to foster economic links

The ministries of planning and investment of Vietnam and Laos should work to foster the two countries’ economic links in key sectors – trade, finance & banking, transportation and energy.

Prime Minister Nguyen Xuan Phuc made the statement at his reception for Lao Minister of Planning and Investment Suphan Keomisay in Hanoi on June 17.

Speaking at the meeting, Prime Minister Phuc reaffirmed that the Party, State and people of Vietnam treasure the traditional ties between the two nations that have been nurtured by Presidents Ho Chi Minh and Kaysone Phomvihane.

He praised the fruitful outcomes of the bilateral cooperation in multiple fields, including politics, defence-security, people-to-people exchange, economics, investment, and education and culture, in recent years.

He also thanked the Lao Government for offering incentive policies for Vietnamese investors in Laos and helping them resolve difficulties.

The Prime Minister stressed the important role the two ministries of planning and investment play in enhancing the bilateral partnership, suggesting they should exchange experience in policy making, macroeconomic stabilisation, inflation control and public investment management.

For his part, Minister Suphan Keomixay briefed his host on the outcomes of the talks with Vietnam’s Ministry of Planning and Investment, noting that the two sides have agreed to boost cooperation in multiple fields and work together to push ahead their investment projects.

The Lao minister said he hopes Prime Minister Phuc will continue facilitating the development of relations between the two ministries and countries.

VNA