PM underscores further promotion of Vietnam-Laos cooperation

The event also attended by Deputy Prime Minister and Minister of Foreign Affairs Pham Binh Minh, discussed the implementation of the cooperation agreement with Laos last year and plans for 2018. According to a report provided by the Ministry of Planning and Investment, both nations exchanged in excess of 300 visits at all levels and achieved significant progress in economic cooperation in 2017. They have worked hand in hand to rapidly iron out snag and push up trade and investment promotion activities. Vietnam now ranks third among countries and territories investing in Laos with 276 projects worth around US$5 billion in total. Accumulative disbursement has been estimated at US$1.6 billion so far, occupying 32.5% of the total Vietnamese investment. Vietnam-Laos trade in the first 11 months of 2017 surpassed US$808 million, up roughly 10% from 2016. Joint projects on transport infrastructure and connectivity have been undertaken between the two countries and within the region. The two sides are continuing to seek funding for key projects, such as 725-km Hanoi – Vientiane Highway and a railway connecting Vung Ang, Tan Ap, Mu Gia (Vietnam) and Thakhec, Vientiane (Laos). PM Phuc said that 2017 was a year of solidarity between the two countries and both sides successfully organised grand ceremonies marking 55th founding anniversary of diplomatic ties and 40 years since the signing of the Vietnam-Laos Treaty on Amity and Cooperation. The two nations should promote bilateral cooperation across a variety of fields, he said, urging relevant sides to effectively coordinate to make… [Read full story]


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