(KPL/VNA) The great friendship, special solidarity and comprehensive cooperation between Vietnam and Laos will continue to deepen and become increasingly effective, affirmed Permanent Vice Chairman of the Laos-Vietnam Cooperation Committee Viengsavanh Vilayphone.

Talking with Vietnam News Agency correspondents in Vientiane ahead of Prime Minister Pham Minh Chinh’s visit to Laos where he will co-chair the 47th meeting of the Vietnam-Laos Inter-Governmental Committee on Bilateral Cooperation from January 9-10. This trip, the first by a high-ranking foreign leader in the new year, underscores the close friendship and solidarity between the two countries.

When asked about the effectiveness of cooperation between the Vietnam-Laos and Laos-Vietnam Cooperation Committees, Vilayphone praised their pivotal role in advising the Party Central Committee and the Government, ensuring their coordination with relevant ministries, agencies, and local authorities. Their focus has been on realising existing agreements across various cooperation frameworks, ensuring unity and timeliness.

The committees have established a robust coordination mechanism, regularly holding meetings to evaluate their joint work and devise plans tailored to the realities of each stage. Through joint inspections and facilitation of projects in Lao provinces, they have promptly identified challenges and reported them to the both Governments.

Notably, in 2024, Vietnam played a crucial role in helping Laos successfully fulfill its duties as ASEAN Chair. Key projects, such as the construction of a rehabilitation centre in Vientiane province and a population and citizen identification management system for the Lao Ministry of Public Security, have made significant progress. Additionally, Vietnam’s non-refundable aid projects for Laos have been operational, with positive outcomes on the ground.

Vietnam's investments in Laos have also shown promising outcomes, with major projects like the Truong Son wind energy farm and Xekaman 3 hydropower plant underway. Two-way trade surpassed 2 billion USD, marking a 34% annual increase. Cooperation between ministries, agencies, localities, parliamentary committees, and mass organisations has been effective and aligned with practical needs.

During the visit, an investment cooperation conference co-chaired by the two PMs is set to address obstacles and catalyse business operations further. A groundbreaking move will be the launch of cross-border local currency payment services and the integration of payment systems through QR codes, thus gradually reducing their reliance on foreign currencies.

Vilayphone stressed that the Lao side will study and propose suitable policies to step up investment in mineral extraction, finance and banking. It will also facilitate mechanisms, policies and legal frameworks to draw more Vietnamese investments in such priority sectors as energy, digital transformation, technology, clean agriculture, and tourism.

He called for more joint efforts to facilitate large-scale investment projects, especially in transportation infrastructure like highways and railways. For non-refundable aid projects, both sides should maintain regular inspections to speed up their projects to meet quality and deadlines, he said.

KPL