Young Generations are Inheritors to Further Enhance Vietnam - Lao Relationship
	Lao Media Praises Vietnam-Laos Special Relationship

Speaking at the event, Deputy Minister of Culture, Sports, and Tourism of Laos Vansy KouaMoua said the two countries have maintained their friendship for 60 years, which serves as a foundation for more comprehensive and effective economic cooperation.

At the event. (Photo: hochiminhcity.gov.vn)

By September 2024, bilateral trade had reached US $1.5 billion, an increase of 25.5% year-on-year. Vietnam's exports were valued at US $499 million, up 24%, while its imports US $1.01 billion, up 26%.

In terms of investment, Vietnam is among the three largest investors in Laos, with a total investment capital of nearly US $5 billion. Key sectors where Vietnamese enterprises are investing in Laos include tourism, mining, electricity, and agriculture.

The official said Laos identifies trade and investment as priority areas to promote economic growth and has plans to attract investment to sectors such as energy, digital transformation, high technology, tourism, finance, banking, and agriculture while facilitating the ongoing projects. This presents a significant opportunity for Vietnamese businesses to enhance and expand their investment and trade relations with Laos.

Vo Van Hoan, Vice Chairman of the Ho Chi Minh City People’s Committee, highlighted that the strong political ties between Vietnam and Laos have provided a solid foundation for their effective collaboration in the fields of economy, investment, and trade.

The two nations are working towards boosting bilateral trade to reach a value of US $2 billion in the near future by leveraging the potential of the Vietnam–Laos Trade Agreement signed in April 2024. At present, Laos continues to be the largest foreign investment destination for Vietnamese enterprises, with 245 projects and a total registered capital of US $5.5 billion.

Hoan emphasized that as Vietnam’s economic hub, Ho Chi Minh City places high importance on fostering economic, trade, and investment partnerships with Laos and its localities.

Delegates visit a display booth at the forum. (Photo: hochiminhcity.gov.vn)

Dinh Khac Huy, Deputy Director of Ho Chi Minh City’s Department of Planning and Investment, stated that there remains considerable potential for investment and trade collaboration between Vietnam and Laos, particularly involving Ho Chi Minh City.

To transform this potential into measurable outcomes, both sides should concentrate on specific sectors such as renewable energy, environmental protection, agricultural product processing, and export activities.

He also suggested enhancing cooperation in education, human resource development, tourism, and cultural exchange to capitalize on each side's strengths for shared growth.

Phaophongsavath Phouvong, Director of the Investment Promotion Department under the Lao Ministry of Planning and Investment, urged Vietnamese enterprises, especially those from Ho Chi Minh City, to explore investment opportunities in areas like modern agriculture, agricultural processing, clean energy, mineral processing, tourism, and logistics. He also highlighted the potential for developing the Laos-Vietnam railway project and other regional infrastructure projects.

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