Cooperation contributes to Vietnam, Laos’ political stability, socio-economic development
|Lao Bao Border Gate, located in Huong Hoa district of central Quang Tri province, is an exemplary port of entry on the Vietnam-Laos borderline. (Source: VNA)|
The Lao diplomat highlighted the special bilateral ties which have produced practical results in all areas, from politics, national defence and security, to foreign affairs and economy, culture, science and technology, healthcare, and education and training.
The achievements have benefited the two countries’ peoples, strengthened their special relations, and heightened the role of the two Parties and States, contributing to global peace, stability, cooperation and development.
He went on to mention Vietnam as one of the biggest foreign investors in Laos, with some 5.4 billion USD in FDI mostly landing in hydropower, mining, agriculture, and tourism. Vietnamese businesses not only operate for profit but also build social infrastructure to improve local people's living conditions such as schools, hospitals and irrigation works.
Last year, two-way trade hit about 1.3 billion USD, a year-on-year surge of 33.8%, despite the impacts of the severe COVID-19 resurgence, he said, adding that Laos increased exports of its key agricultural products such as rice, coffee, rubber, bananas, sugar and watermelons to Vietnam.
According to the deputy ambassador, the two countries are working together to boost cross-border transport connectivity. They plan to develop a highway connecting the two capitals – Hanoi and Vientiane – viewed as an artery of friendship and a gateway to the region and the world for sustainable development. An East-West Corridor is also being developed to boost tourism growth.