The Vietnam-Laos bilateral relations in all fields have increasingly advanced and are at their best point, said Lao Minister of Planning and Investment Khamjane Vongphosy.

The two neighboring countries have a long-standing tradition of cooperation and mutual support during their respective revolutions to win back their independence and national reunification, as well as during the time to develop and protect the nations, the Vietnam News Agency quotedthe Lao minister as remarking.

The head of the Lao-Vietnam Cooperation Committee added that under the close leadership of the two Parties and states, ministries, agencies, and localities of both sides have joined hands to effectively implement their agreement on their 10-year cooperation strategy (2021-2030), the five-year cooperation deal (2021-2025), and other cooperation plans in all sectors.

Their joint efforts have significantly contributed to maintaining political stability, ensuring national defense, security, and socio-economic growth of each nation, and further enhancing the great relationship, solidarity, and comprehensive cooperation between them, he added. 

The Vietnamese government has provided tremendous support for Laos, which tapped one-third of the aid to develop human resources and allocated the rest to other projects, including those for poverty reduction, the Lao official said.

The two Southeast Asian nations have also beefed up their cooperation across the board, especially in the economic sector. As a result, bilateral trade has continued to grow over the time.

According to the Lao minister, Vietnamese investors are operating more than 400 FDI projects in Laos. 

These projects have been contributing to the socio-economic development of Laos, particularly the locales in remote regions.

Both sides have supported each other in building their independent and self-reliant economies, as well as strengthened the connectivity between the two economies, especially in trade, investment, traffic infrastructure, energy, and tourism.

The Lao government is working on plans to develop traffic infrastructure and energy projects to further promote the Vietnam-Laos investment cooperation, such as the Vietnam-Laos railway and Hanoi-Vientiane expressway projects.

The two countries have also called on Vietnamese firms to invest in Laos, giving priority to companies with good financial capacity and expertise to pour investment in clean agriculture, processing industry, cultural tourism, nature conservation, and clean energy.

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