Laos – Vietnam bank honoured with Lao state’s first-class Labour Order
The Laos - Vietnam Joint Venture Bank (LaoVietBank) on August 15 was awarded the Lao state’s first-class Labour Order on the occasion of its 25th founding anniversary, in recognition of its contributions to the socio-economic development of Laos over the years.
Acting Governor of the Bank of the Lao PDR Vathana Dalaloy, on behalf of the Lao state, presents first-class Labour Order to LaoVietBank (Photo: VNA)
Vientiane (VNA) – The Laos - Vietnam Joint Venture Bank (LaoVietBank) on August 15 was awarded the Lao state’s first-class Labour Order on the occasion of its 25th founding anniversary, in recognition of its contributions to the socio-economic development of Laos over the years.
As one of the largest commercial banks in Laos, with a network of branches and transaction offices in nine out of the 18 provinces and cities there, the bank consistently performs its role as a bridge for payments and transactions between the two countries using Vietnamese dong (VND) and Lao kip (LAK). It plays a central role in facilitating payments and solving issues for businesses in bilateral transactions, thus contributing to the enhancement of economic cooperation between the two nations.
Speaking at the event, Acting Governor of the Bank of the Lao PDR Vathana Dalaloy praised LaoVietBank for its significant efforts, outstanding achievements, and positive contributions to Laos’s socio-economic development, as well as its role in promoting cooperation and investment between Laos and Vietnam.
Vathana Dalaloy outlined the key tasks that LaoVietBank should focus on in the coming period, including implementing the business development strategy for the 2021-2025 period, with a vision towards 2030, enhancing system governance capabilities, improving credit quality, innovating and applying advanced technology in banking operations, and strengthening financial capacity.
Also acknowledging and praising the bank's remarkable achievements in contributing to the socio-economic development of Laos, Deputy Governor of the State Bank of Vietnam Dao Minh Tu affirmed that LaoVietBank has consistently been a pioneer in banking cooperation between Vietnam and Laos, effectively implementing the policies and directions of their Parties, states and governments, and providing convenient and modern financial services to its customers.
In recognition of its efforts and positive contributions over the past 25 years, the Lao Party and state have awarded the bank several prestigious honours, including the third-class Independence Order, first-, second-, and third-class Labour Orders, the Friendship Order, and now the first-class Labour Order.
On this occasion, LaoVietBank was also awarded a Certi🎶ficate of Merit by the State Bank of Vietnam for its positive contributions to nurturing and developing the relationship between Vietnam and Laos./.
President of the Vietnam Academy of Science and Technology (VAST) Chau Van Minh and Lao Minister of Technology and Communications Boviengkham Vongdara on August 5 co-chaired the third bilateral meeting between the two agencies to discuss ways to promote their cooperation in the coming time.
Vietnam was the second largest importer of Lao products in June this year, with a total value reaching 115 million USD, according to the Lao Trade Portal (LTP).
Vietnam’s overseas investment approximated 150.7 million USD in the first seven months of 2024, reported the Foreign Investment Agency (FIA) under the Ministry of Planning and Investment.
President Luong Cuong's activities during his state visit to Angola, the celebration of the financial sector's 80th traditional day, and the Foreign Ministry's flag-hoisting ceremony marking the 58th founding anniversary of ASEAN are among news highlights on August 8.
Vietnamese Ambassador to Thailand Pham Viet Hung praised the Thai Ministry of Foreign Affairs’ meaningful initiative, noting that the ASEAN Family Run was not only a sporting activity but also an opportunity for diplomats and their families to show unity, connection, and solidarity within the ASEAN family.
Politburo member, Prime Minister Pham Minh Chinh on August 8 attended the first congress of the Party Organisation of Tay Ho ward of Hanoi for the 2025–2030 term, during which he called for fresh momentum to turn the ward into a model that takes the lead in all fields.
The size of the economy increased from over 5 billion USD in 1986 to over 476 billion USD by 2024, making Vietnam the fourth-largest economy in Southeast Asia and the 34th largest in the world.
The ASEAN flag-hoisting ceremony is observed by the 10 ASEAN member countries on August 8 every year, aiming to spread and promote the ASEAN identity and affirm the determination to unite and cooperate for the common aspiration of long-term peace and prosperity of Southeast Asian countries under the common roof of the ASEAN Community.
Vice Chairman of the municipal People’s Committee Nguyen Manh Cuong highlighted ASEAN’s nearly six decades of development, during which the region transformed from division to harmony, from confrontation to cooperation, and from poverty to dynamic growth, becoming a global bright spot for regional cooperation.
Thirty years ago, on July 28, 1995, Vietnam’s accession to ASEAN marked a historic strategic decision, opening a new chapter in the country’s integration process and beginning its strong rise.
Ambassador Vu Le Thai Hoang has outlined specific priorities and proposals for cooperation with the UNODA in preparation for the upcoming 11th Review Conference of the Non-Proliferation of Nuclear Weapons (NPT).
The Vietnamese Party leader's visit is therefore expected to mark a new stage in the development of the Comprehensive Strategic Partnership between the two countries, with a focus on such areas as digital transformation, supply chains, semiconductors, clean energy, and maritime security, Choe assessed.
At their meeting, which took place in the Angolan capital of Luanda on August 7 as part of State President Luong Cuong’s ongoing state visit to the African nation, the two officials also agreed to make full use of existing cooperation mechanisms, particularly the Vietnam – Angola Intergovernmental Committee, and step up exchanges of delegations at all levels.
President Luong Cuong's talks with his Angolan counterrpart João Manuel Gonçalves Lourenço, Vietnamese leader's receptions for a delegation from the Japan – Vietnam Parliamentary Friendship Alliance, and the Government's regular meeting for July are among news highlights on August 7 evening.
Over the past five decades, the Vietnam - Angola relationship has grown steadily, marked by political trust and close bonds between their Parties, States, Governments, and peoples, said Deputy Prime Minister and Foreign Minister Bui Thanh Son.
President Luong Cuong called on the two countries to join hands to promote South – South cooperation, contribute to building a fair and equal global political and economic order, safeguard independence and sovereignty, and promote extensive and substantive international solidarity and cooperation.
President Luong Cuong called on the community to remain united, integrate well into local society, adhere to local laws, and continue contributing to both Angola’s development and Vietnam – Angola relations.
Vietnamese President Luong Cuong and Speaker of the National Assembly (NA) of Angola Carolina Cerqueira agreed to continue strengthening political trust, boost high-level delegation exchanges via all channels, including the parliamentary one, and create favourable legal conditions for bilateral cooperation.
Vietnamese State President Luong Cuong and Angolan President João Manuel Gonçalves Lourenço met with the press right after concluding their talks and witnessing the signing of seven cooperation agreements between the two countries in Luanda on August 7.
State President Luong Cuong stressed the fraternal ties between Vietnam and Angola as a shared invaluable asset. It serves as a solid foundation for both countries to enter a new phase of development, further foster political trust and mutual support between the two Parties and States, and deepen the solidarity and mutual understanding between their people.
At the dialogue, both sides expressed satisfaction with the intensive and extensive development of bilateral relationship since it was elevated to a Comprehensive Strategic Partnership last year.
The robust collaboration between the Vietnamese National Assembly and Japan’s National Diet, particularly between the two nations’ parliamentary friendship groups, is a hallmark of bilateral relations, contributing to deepening the Vietnam-Japan comprehensive strategic partnership, said NA Chairman Tran Thanh Man.
Deputy Prime Minister Le Thanh Long received British Ambassador to Vietnam Iain Frew in Hanoi on August 7, affirming education as a standout pillar in the Vietnam - UK Strategic Partnership.
