Prime Minister Nguyen Xuan Phuc speaks at the meeting. (Photo: VNA)
Hanoi (VNA) – Trade cooperation was a spotlight of the Vietnam-Laosrelationship in the first ten months of this year, with revenue reaching 940million USD.
Thefigure was unveiled at a meeting of permanent Cabinet members in Hanoi onDecember 7 under the chair of Prime Minister Nguyen Xuan Phuc.
Thetwo-way trade is projected to hit 1.1-1.2 billion USD in 2019, up 12.6 percentyear-on-year, surpassing the targets of 1 billion USD and 10 percent set by theGovernment.
Vietnamhas become the third biggest investor in Laos with 413 projects valued at 4.22billion USD, with the most outstanding a joint venture of Viettel MilitaryIndustry and Telecoms Group (Viettel), projects of Vietnam Rubber Group, MuongThanh Hotel, Crow Plaza, LaoViet Bank and Xekaman 1 hydropower plant.
Besides,Vietnam has committed to providing 3.25 trillion VND (139.8 million USD) innon-refundable aid for Laos during the 2016-2020 period, including 707 billionVND in the 2019 fiscal year, up 18.4 percent against the previous year, aiming tohelp the neighbouring country implement projects on infrastructure, especiallytransport, energy, personnel training and social welfare.
Inearly 2019, Vietnam provided 300 tonnes of seeds for Laos in support of locals hitby natural disasters.
Apartfrom more than 1,000 scholarships granted to Lao students, Vietnam has also dispatchedteachers to Laos and financed Vietnamese language teaching courses in the country.
Thisyear, about five Vietnamese-funded projects have been completed in Laos and twoothers have been launched.
Atthe meeting, the Cabinet members also pointed out slow capital disbursement ofthe projects, along with bottlenecks in procedures.
ThePM and other Cabinet members called for efforts to remove the difficulties tospeed up the implementation work and prepare for the meeting of theVietnam-Laos Inter-governmental Committee slated for January 2020./.
The national archive agencies of Vietnam and Laos signed a Memorandum of Understanding on bilateral cooperation in 2020 at a ceremony in Hanoi on December 3.
Lao Prime Minister Thongloun Sisoulith hosted a reception in Vientiane on December 6 for a delegation of the Vietnamese Ministry of Culture, Sports and Tourism led by Minister Nguyen Ngoc Thien who have been on a two-day working visit to Laos.
A Vietnam – Lao conference was held in the central province of Nghe An on December 7 to seeks ways to continue nurturing the bilateral relations and friendship and to share experiences in the ethnic work between the two countries.
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.
A new airline developed and invested by Sun Group — has officially announced a strategic partnership with Amadeus IT Group (Amadeus), one of the world’s leading travel technology companies. This agreement not only lays the foundation for a modern digital infrastructure but also marks a pivotal step in SPA’s global expansion strategy, enabling the airline to access international distribution networks and reach customers worldwide.
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.
Experts agree that a combination of technology, enforcement, education and cross-border cooperation is essential to protect copyrighted content in Vietnam’s growing digital ecosystem.
Poland is Vietnam’s largest export market in Central and Eastern Europe, with key staples including seafood, textiles, footwear, coffee, and cashew nuts.
Cashless payments are growing at an impressive rate, averaging 30–40% annually. Vietnam’s per capita cashless transaction volume now trails only China, with total value of 295.2 quadrillion VND (11.26 trillion USD), or 26 times of its GDP.
A draft resolution on piloting a digital asset and cryptocurrency market is being developed, aiming to create a broad-enough regulatory sandbox that enables investor participation and provides practical grounds for policy refinement in areas such as risk management and anti-money laundering.
Viettel was ranked third for overall mobile performance with a score of 82.56 just behind UEA’s e& (88.05) and Quatar’s Ooredoo (87.05) and ahead of Singapore’s Singtel (82.53). Vinaphone took second in 5G speed with a score of 78.11, trailing only behind e&.
PM Chinh proposed MUFG work closely with the Ministry of Finance to improve legal frameworks and support the establishment and operation of the international financial centre in Da Nang and Ho Chi Minh City.
The Prime Minister emphasised the significance of maintaining macroeconomic stability, controlling inflation, promoting growth, and improving the harmony between monetary and fiscal policies.
Petrovietnam will step up the development of new products and the expansion of international markets to reduce reliance on the domestic market. It also plans to optimise capital use, manage cash flow and costs, streamline operations, and enhance workforce quality to achieve its 2025 goals.
Vietnam has so far attracted 43,346 valid FDI projects with a total registered capital of 517.14 billion USD. The accumulated disbursed capital is estimated at nearly 331.46 billion USD, accounting for 64.6% of the total registered capital.
More than a product showcase, Vietfood & Beverage – Propack Vietnam 2025 is designed as a comprehensive ecosystem where businesses, experts, and consumers can share knowledge, explore technologies, and connect for collaboration.
Both sides expressed their hope that the outcomes of the discussion will continue to improve the efficiency of customs clearance activities at the customs clearance points and dedicated transport routes of the Huu Nghi – Youyi Guan international border gate pair.
The maximum retail price of E5 RON92 petrol has increased by 207 VND to 19,608 VND (0.75 USD) per litre while that of RON95-III rose by 234 VND to 20,074 VND per litre.
Prime Minister Nguyen Xuan Phuc speaks at the meeting. (Photo: VNA) 
