Cooperation contributes to political stability and socio-economic development in Vietnam and Laos | Policy

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Lao Bao border gate, located in Huong Hoa district of central Quang Tri province, is an exemplary port of entry on the Vietnam – Laos border. (Photo: VNA)

Hanoi (VNA) – Vietnam and Laos have benefited a lot from their cooperation, playing an important role in maintaining political stability and socio-economic development in each country, said the adviser and deputy ambassador of the Laos in Vietnam Chanthaphone Khammanichanh told Vietnam News Agency.

The Lao diplomat highlighted the special bilateral ties that have produced practical results in everything from politics, national defense and security to foreign affairs and economy, culture, science and technology, health care, education and training.

The achievements have benefited the peoples of the two countries, strengthened their special relations and enhanced the role of both parties and states, contributing to world 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 in FDI coming mainly from hydroelectricity, mining, agriculture and tourism. Vietnamese companies not only operate for profit, but also build social infrastructure to improve the living conditions of local people, such as schools, hospitals and irrigation works.

Bilateral trade reached about $1.3 billion last year, a 33.8 percent year-on-year increase, despite the effects of the severe resurgence of COVID-19, he said, adding that Laos had increased its exports of its main 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 strengthen cross-border transport connectivity. They plan to build a highway linking the two capitals – Hanoi and Vientiane – considered 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 stimulate tourism growth./.

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