Vientiane (VNA) – Minister ofPlanning and Investment Nguyen Chi Dung, head of the Vietnam - Laos CooperationCommittee, called for the countries’ stronger connections in key areas during talkswith his counterpart Khamjane Vongphosy, who is also head of theLaos - Vietnam Cooperation Committee, in Vientiane on March 21.

Minister Dung, who is paying a workingvisit to Laos from March 21 to 23, said despite the complex economic,political, and COVID-19 situation in the world, the two countries’ high-level jointstatements and agreements have still been carried out well from central tolocal levels.

Vietnamese businesses have investedabout 5.3 billion USD in 214 projects in Laos, ranking third among foreigninvestors here, following China and Thailand. They poured 64.3 million USD intoone new project and two existing ones in Laos in the first two months of 2022.

During the two months, bilateral tradereached 243.2 million USD, up 15.39 percent year on year. That consists of75.74 million USD in Vietnam’s exports to and 167.46 million USD in importsfrom Laos, respectively dropping 21.94 percent and rising 47.9 percent.

Notably, Vietnam has earmarked 733billion VND (32 million USD) in non-refundable aid for Laos this year, Dungnoted.

He described the abovementioned outcomesas highly positive but also pointed out many difficulties, including problemsin the implementation of a plan on connecting the two economies, some projectslagging behind schedule, and bilateral trade yet to match the two sides’ potentialand strength.

Speaking highly of bilateralcooperation in the recent past, Minister Vongphosy expressed his belief that theirministries and the two cooperation committees will keep close coordination todeserve their role as the capable advisory bodies of the two Parties and governments,helping the Laos - Vietnam investment partnership make new breakthroughs.

MinisterDung reaffirmed Vietnam’s consistent policy of giving the top priority tomaintaining and developing the countries’ special relations, and consideringthis a priceless asset that is vital to each nation’s revolution.

Inthe time ahead, Vietnam and Laos should continue bringing into play thebilateral cooperation mechanisms, especially the annual meeting between the twoPolitburos and sessions of the Inter-Governmental Committee; work together to fruitfullycarry out the agreements reached at the 44th meeting of theInter-Governmental Committee; and promote their ministries, sectors, andlocalities’ effective implementation of the signed deals to mark the 60th founding anniversary of bilateral diplomatic ties and 45 years since thesigning of the Vietnam - Laos Treaty of Friendship and Cooperation in 2022.

It is also necessary to furtherimprove cooperation in key areas, including defence, security, trade,investment, transport connectivity, education - training, locality-to-localityties, and people-to-people exchange, according to the Vietnamese official.

Regarding Vietnam’s direct investmentprojects in Laos, Dung asked the Lao ministry to further create optimalconditions and propose the Lao government issue favourable policies for Vietnameseinvestors in the country./.