During a meeting with Prime Minister Saleumxay Kommasith in Vientiane today, Prime Minister Le Minh Hung affirmed Vietnam's readiness to support Laos. According to the Ministry of Foreign Affairs, Vietnam will share experience in macroeconomic management, finance and budgeting, institutional reform, infrastructure development, and human resource training.

Both sides reiterated that defense and security cooperation remains a pillar of the Vietnam - Laos relationship. They agreed to continue coordinating efforts to maintain security, political stability, social order, and safety in each country. This includes enhancing efforts to prevent and combat transnational crime, drug trafficking, human trafficking, smuggling, and high-tech crime. Additionally, they will focus on border management and protection, and boost cooperation in new areas such as defense industry and cybersecurity.

In education, training, and human resource development, Vietnam will continue to support Laos in training officials, experts, and high-quality human resources. Prime Minister Le Minh Hung announced that Vietnam will build two schools for the people of Huaphan and Champasak provinces, with a total value of 2 million USD. This initiative aims to contribute to Laos's education, training, and human resource development.

Prime Minister Le Minh Hung shakes hands with Lao Prime Minister Saleumxay Kommasith. Photo: TTXVN

Regarding economic cooperation, both leaders noted that investment cooperation continues to be a highlight of bilateral relations. Vietnam currently has about 300 investment projects in Laos, with a total registered capital of approximately 7 billion USD, making Laos the number one investment destination for Vietnamese enterprises.

The two sides agreed to continue efforts to create breakthroughs, enhance complementarity, and strengthen connectivity between their economies. They will encourage investment cooperation in high value-added sectors, promote transport connectivity, infrastructure, logistics, and border gates. Furthermore, they will coordinate to develop a specific roadmap and priority list to achieve bilateral trade turnover of 5 billion USD, aiming for 10 billion USD per year.

The Prime Ministers of Vietnam and Laos discussed challenges in economic cooperation between the two countries. They agreed to accelerate the implementation of major projects, coordinate to resolve issues related to mechanisms and procedures, and improve the investment efficiency of enterprises from both nations.

The two leaders also discussed measures to enhance the effectiveness of cooperation in science and technology, transport, energy, and mining.

Prime Minister Le Minh Hung and Lao Prime Minister Saleumxay Kommasith hold talks. Photo: TTXVN

The two Prime Ministers agreed to increase information sharing and strategic consultations concerning the security, stability, and development of each country. They will continue to coordinate closely and support each other within ASEAN, the United Nations, Mekong Subregion mechanisms, and other multilateral frameworks.

Following the talks, the two Prime Ministers witnessed the signing ceremony for 11 cooperation documents covering security, justice, finance, energy, education and training, ethnicity, religion, and cooperation between local authorities of the two countries. They also attended the handover ceremony for the Data Center and Citizen Identification project and the launch ceremony for the Laos - Vietnam Friendship University project.