Deputy PM receives Lao Finance Minister

July 27, 2022 - 10:35

The Deputy PM congratulated the Lao Party, State and people on their achievements over the past 40 years of reform.


Deputy Prime Minister Lê Minh Khái receives Lao Finance Minister Bounchom Ubonpaseuth in Hà Nội. — VNA/VNS Photo An Đăng 

HÀ NỘI — Deputy Prime Minister Lê Minh Khái received Lao Finance Minister Bounchom Ubonpaseuth in Hà Nội on Tuesday, declaring that Việt Nam shares both its happiness and difficulties with Laos.

Highlighting their bilateral cooperation and traditional friendship, Khái said Bounchom Ubonpaseuth’s official visit is contributing to the success of Việt Nam-Laos and Laos-Việt Nam Solidarity and Friendship Year 2022.

The Deputy PM congratulated the Lao Party, State and people on their achievements over the past 40 years of reform, and noted his belief that the neighbouring country will overcome the present challenges and reap more in the time ahead.

He also briefed the guests on Việt Nam’s macro-economic situation and budget collection last year and in the first half of this year, saying the national gross domestic product (GDP) over the past six months grew 6.42 per cent, inflation was curbed at 2.44 per cent, and budget collection fulfilled 66.7 per cent of the estimate and rose 19.9 per cent year-on-year.

The official attributed the results to the flexible combination of fiscal and monetary policies, and a close watch on the situation.

For the bilateral ties, Khái said the collaboration has been expanded and deepened and he expressed his delight at the cooperation outcome across all spheres, particularly finance.

The Lao minister, for his part, informed the Deputy PM about the results of the working session between the two finance ministries, during which they looked into the cooperation plan for 2025 and public debt management, along with experience in the budget collection.

Speaking of difficulties facing Laos in the budget collection, public debt management and inflation control in the first half, he suggested Việt Nam send experts to help the neighbouring country with solutions to deal with financial and monetary issues, reform electronics firms and support State-owned enterprises.

In this regard, Khái urged the two ministries to step up the exchange of experience in financial, fiscal and monetary policies.

He also suggested Laos exploit sources of income in line with legal regulations, better control foreign remittances, ensure currency stability, and reasonably calculate the ceiling of the public debt-to-GDP ratio. — VNS