The 47th meeting of Vietnam-Laos Intergovernmental Committee held in Vientiane

The 47th meeting of the Vietnam-Laos Intergovernmental Committee for Bilateral Cooperation was held in Vientiane (Laos) on January 9, under the chairmanship of Vietnamese Prime Minister Pham Minh Chinh and Lao Prime Minister Sonexay Siphandone.

During the meeting, the two Prime Ministers emphasized that despite numerous challenges and difficulties, Vietnam and Laos have effectively and rigorously implemented high-level agreements, achieving significant cooperation milestones, thus contributing to building an independent, self-reliant, and deeply integrated economy of each country with tangible and effective results. 

In 2024, the economic, trade, and investment cooperation between the two countries was further promoted, yielding impressive achievements. Cumulatively, Vietnamese enterprises have so far invested in 267 projects in Laos, with a total registered capital of $5.7 billion, of which approximately $2.8 billion has been disbursed.

Notably, Vietnamese investment in Laos is showing a sustainable upward trend. In 2024, the registered investment capital reached $191.1 million, up 62.1 per cent year-on-year. Over the past five years, Vietnamese enterprises have contributed an annual average of $200 million in taxes and financial obligations to Laos.

Amidst global and regional economic difficulties and declining consumption demand, bilateral trade between Vietnam and Laos marked a significant achievement in 2024, with total trade turnover reaching $2.2 billion, up nearly 34 per cent year-on-year. Notably, Laos achieved a trade surplus with Vietnam of $732.7 million, up 30 per cent year-on-year. To this accomplishment, Vietnamese enterprises investing and operating in Laos have made active contributions. 

For 2025, the two sides agreed to more rigorously and effectively implement high-level agreements, adopting robust and practical measures to further deepen their political and diplomatic relations, strengthen the defense-security pillar, and vigorously promote economic cooperation. 

Priority will be also given to improving the quality of education-training cooperation and human resources development, with the Vietnamese Government continuing to provide 1,160 scholarships for Lao officials and students to study in Vietnam, while sending teachers to Laos to teach the Vietnamese language, at Laos' request.

Besides, the two countries will work out directions for further enhancing the bilateral comprehensive cooperation, maintaining and improving  the effectiveness of existing cooperation mechanisms, and exchanging high-level visits and meetings flexibly and effectively. Mutual efforts will also be made to enhance the efficiency of the bilateral cooperation at all levels and across sectors.

The two countries also aim to achieve stronger trade growth, targeting a 10 -15 per cent increase in 2025 compared to 2024, reaching the target of $5 billion in two-way trade turnover.

Meanwhile, agriculture and rural development will be prioritized as a key pillar of economic cooperation, and local currency payments between the two nations will be promoted.

At the meeting, the two Prime Ministers witnessed the signing and exchange of important cooperation agreements  between the two countries. 

Later on the day, at Vietnam-Laos Investment Cooperation Conference 2025, Prime Minister Pham Minh Chinh and Prime Minister Sonexay Siphandone also witnessed the granting of licenses and agreements for projects worth billions of dollars between agencies and partners of the two countries.