Vietnam and Laos expect to achieve 2 billion USD in two-way trade in the near future, given that the figure surged 28.2% annually to 1.4 billion USD in ten months of this year, heard a forum held in Vientiane on November 25.
Vientiane (VNA) – Vietnam and Laosexpect to achieve 2 billion USD in two-way trade in the near future, given thatthe figure surged 28.2% annually to 1.4 billion USD in ten months of this year,heard a forum held in Vientiane on November 25.
Speaking at the event,Somvixay Vongthilath, Deputy Director of Trade Promotion Department under the Lao Ministry of Industry and Commerce (MIC), said the event offers achance to listen to concerns of businesses and review the efficiency ofexisting cooperation frameworks to fine-tune policies, mechanisms and laws,thus helping firms improve their production and export capacity, even export tothe third country.
Deputy head of the VietnameseMinistry of Industry and Trade’s Department of Asia-Africa Markets Do Quoc Hungsaid Laos now ranks first among 78 countries and territories invested byVietnam. Meanwhile, Vietnam is the third biggest investor in Laos, mostly inagriculture, banking, finance, telecommunications, manufacturing andprocessing.
Reports at the eventfocused on trade achievements between the two countries, bilateral cooperationin market management and energy development.
Vice Chairman of theVietnamese Business Association in Laos Nguyen Xuan Ha suggested the MIC issuepolicies to protect domestically-made goods and importers of goods via officialchannels.
He also urged the twogovernments and the Lao Ministry of Public Works and Transport to soon upgradethe Lao section of road linking Vietnam and Laos and build the Hanoi-Vientianeexpressway to save time and cost of trade between the two nations.
🌳 Participants at theevent debated ways to pool more resources and corporate involvement in tradeinfrastructure, retail distribution and processing industry to achieve the settarget of 2 billion USD soon./.
The 3rd Congress of the Vietnam - Laos Friendship Association in Ho Chi Minh City (VLFA HCM City) took place on November 11, focusing on discussing measures to effectively promote people-to-people diplomacy between HCM City and Lao localities.
Forty Vietnamese and Lao young military officers attended an exchange in the northern Lao province of Luang Prabang on November 18, held as part of a visit by General Luong Cuong, Chairman of the General Department of Politics under the Vietnam People's Army (VPA).
The leaders of the National Assemblies of Vietnam, Cambodia and Laos signed a joint statement on establishing their summit mechanism in Phnom Penh on November 20, in the framework of the 43rd General Assembly of the ASEAN Inter-Parliamentary Assembly (AIPA-43).
The Vietnam Fatherland Front (VFF) and the Lao Front for National Construction (LFNC) co-held their 7th international conference on the nations’ border of peace, friendship, and cooperation for mutual development in Laos’ Savannakhet province on November 22.
The Vietnamese booth featured fresh durian, durian ice cream, durian cakes, and other fruits such as dragon fruit and passion fruit, attracting strong interest from Beijing residents and ASEAN diplomats.
China’s Laoling city, in coordination with VINEXAD, hosted a series of events in Ho Chi Minh City from August 7-9 to seek trade and economic cooperation with Vietnam.
Vietnamese Ambassador to Cambodia Nguyen Minh Vu led a delegation to Mondulkiri, Ratanakiri, and Kratie provinces from August 5-8, aiming to deepen economic ties and support Vietnamese businesses operating in Cambodia’s northeastern region.
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Under the agreements, VinEnergo will invest in, install, and operate 43 MWp of rooftop solar power capacity and 45 MWh of BESS capacity across the three plants.
Under a draft to amend and supplement the Government's Decree 125/2020/ND-CP on administrative sanctions for violations of tax and invoice regulations, the Ministry of Finance has proposed classifying the failure to issue invoices into five different levels. Infraction levels will correspond to fines of 1 million VND to 80 million VND, depending on the nature and number of invoicing violations.
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Of the total, 107,700 were new firms, with combined registered capital of 928.4 trillion VND (35.4 billion USD), up 10.6% in number and 5.5% in capital compared with the same period last year.
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Illustrative image (Photo: VNA) 
