At a steel mill in Vietnam (Illustrative photo: VNA)
Vientiane (VNA) - Vietnam-Laos trade expanded in the first five months of 2021 after a decline triggered by COVID-19, according to the Vietnamese Trade Office in Laos.
The figure surpassed 570 million USD in the period, a year-on-year rise of 25 percent. Exports hit over 280 million USD, up 23.6 percent.
In May alone, two-way trade hit 113 million USD, surging 56.7 percent against the same period last year. Import turnover reported growth of 83.8 percent.
Vietnam’s major exports included machinery, equipment, tools and spare parts in excess of 13.4 million USD; ceramics worth over 1 million USD; and garment-textile about 900,000 USD.
The country also shipped iron and steel products nearing 6.8 million USD and petrol and oil worth 1.9 million USD to its neighbour.
Meanwhile, Vietnam imported close to 10.3 million USD worth of timber and wooden products from Laos, along with ores and minerals, and rubber.
Trade Counsellor at the Embassy of Vietnam in Laos Le Thi Phuong Hoa said that the bilateral trade is projected to marginally rise next month as the countries are striving to curb the spread of COVID-19.
To support businesses, the trade office has devised a list of firms wishing to promote their products in Laos, helped them seek distributors and address bottlenecks in freight transportation, she added./.
The Communist Party of Vietnam (CPV) Central Committee sent a letter of greetings to the Central Committee of the Lao People's Revolutionary Party (LPRP) on the occasion of the Lao Party’s 66th founding anniversary (March 22, 1955-2021).
Vietnam’s assistance for Laos in the COVID-19 combat was handed over at a ceremony held at Wattay International Airport in Vientiane capital city on May 4 morning.
Chairman of the National Assembly Vuong Dinh Hue hosted a reception in Hanoi on May 13 for Lao Ambassador to Vietnam Sengphet Houngboungnuang, who was the first foreign ambassador to pay a courtesy visit to Hue as the top leader of the NA.
The Vietnam-Laos Friendship Association Central Committee has presented more than 600 million VND (26,000 USD) and 225,000 face masks to help Laos fight COVID-19.
Vietnamese Minister of Foreign Affairs Bui Thanh Son and his Lao counterpart Saleumxay Kommasith on June 6 highlighted their countries’ mutual support in the COVID-19 combat and identified ways to augment bilateral relations.
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.
Party General Secretary To Lam’s upcoming state visit to the Republic of Korea (RoK) is expected to mark a new milestone in the bilateral relationship, creating fresh momentum for trade and investment cooperation between the two countries.
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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.
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.
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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.
At a steel mill in Vietnam (Illustrative photo: VNA) 
