Vietnam, Laos vow to create economic breakthroughs

Hai congratulated the Lao people on their recent achievements and expressed confidence that under the leadership of the Lao People’s Revolutionary Party, the management of the Lao Government and the supervision of the legislature, Laos will successfully overcome challenges, maintain macro-economic stability and drive socio-economic recovery.

The talks between NA Vice Chairman Nguyen Duc Hai and his Lao counterpart Sommad Pholsena in Da Nang city on September 4, (Photo: VNA)

Praising the growing and more substantive ties between the two legislatures, he noted the facilitation of delegation exchanges at all levels, work experience sharing and exchange programmes between parliamentary committees and friendship groups.

A significant milestone was the first Cambodia-Laos-Vietnam (CLV) Parliamentary Summit held in Laos in December 2023, which elevated cooperation among the three legislative bodies to its highest level and contributed to refining high-level cooperation mechanisms among the three countries at the Party, Government and parliamentary channels.

Pholsena, in turn, expressed the Lao delegation’s wish in sharing experience in finance, economy, and auditing during the visit, saying that they are of significant interest to the Lao legislature as it seeks to refine legal system and enhance its role in building and approving policies aimed at the country’s socio-economic development.

According to him, the upcoming seminar scheduled for September 5 will provide a platform for both sides to learn from each other in these areas.

Both sides committed to maintaining frequent high-level exchanges through all channels, leveraging the effectiveness of annual meetings between the two Politburos, sessions of the Inter-Governmental committees, and experience-sharing exchanges between the two legislatures.

They agreed to actively implement the new cooperation agreement between the two NAs, support each other at global and regional inter-parliamentary forums, and coordinate efforts to make breakthroughs in all areas, particularly in economic cooperation.

A key focus of the talks was the pledge to achieve breakthroughs in economic, trade, and investment collaboration, elevating it to a crucial pillar that matches the strong political relationship.

The two sides also agreed to establish appropriate and effective policies to unlock resources for economic, trade, and investment between the two countries, with a focus on connecting their economies. This includes transport infrastructure development and opening up Laos’ economy to the sea through projects like the Vung Ang and other Vietnamese ports.