Vietnam and Laos pledged to increase bilateral trade by 10 to 15 percent
Vietnam and Laos have pledged to expand bilateral trade by 10-15 percent in 2024 compared to 2023, Vietnamese Prime Minister PHPHM Minh Chinh and Lao Prime Minister Sonexay Siphandone said after the 46th meeting of the Intergovernmental Committee between the two countries on Sunday.
Ministries and commissions of the two sides actively exchange and share experience in macroeconomic management and building an independent economy in the context of international integration. At present, Vietnam has 245 valid investment projects in Laos, with a total registered investment of about 5.5 billion US dollars.
In 2023, Vietnam's investment capital in Laos reached $116.6 million, up 65.3 percent from 2022.
At present, there are 18 investment projects steadily implemented by Laos in Vietnam, with a total registered capital of more than 110 million US dollars. Vietnamese authorities have created favorable conditions for Lao companies to invest and operate.
In 2023, bilateral trade totaled about $1.6 billion, down slightly by 2.1 percent year-on-year, but imports from Laos surged by 4.2 percent.