Vietnamese Minister of Finance and Chairman of the Việt Nam–Laos Cooperation Committee Ngô Văn Tuấn (right) and Lao Deputy Prime Minister and Minister of Finance Santiphab Phomvihane at the mid-year meeting of the Việt Nam–Laos Cooperation Committee on the implementation of the 2026 cooperation plan in Đà Nẵng on August 27. — VNA/VNS Photo

ĐÀ NẴNG — The mid-year meeting of the Việt Nam–Laos Cooperation Committee on the implementation of the 2026 cooperation plan was held in Đà Nẵng City on Thursday.

Vietnamese Minister of Finance and Chairman of the Việt Nam–Laos Cooperation Committee Ngô Văn Tuấn and Lao Deputy Prime Minister and Minister of Finance Santiphab Phomvihane, who is also Chairman of the Laos–Việt Nam Cooperation Committee, co-chaired the event.

The two sides reviewed progress in implementing the 2026 cooperation plan over the past eight months, assessed achievements and challenges, and agreed on key priorities for the remainder of the year.

They said the implementation has basically achieved its goals, helping to maintain political stability, boost socio-economic development, ensure national defence and security, and strengthen the great friendship, special solidarity, and comprehensive cooperation between Việt Nam and Laos.

The two countries have maintained regular information exchanges, consultations and close coordination at regional and international forums. Defence and security cooperation has also continued to strengthen, with both sides working to implement the signed agreements, contributing to peace, stability, friendship, cooperation and development along the Việt Nam–Laos border.

Economic and investment cooperation has recorded notable progress. In the first seven months of 2026, Vietnamese businesses registered 20 investment projects in Laos with total capital of US$638.3 million, up 4.2 times year-on-year. Laos remained Việt Nam's largest overseas investment destination, with 300 projects worth $7.04 billion. Bilateral trade reached $1.3 billion in the first six months of the year.

The two sides also continued to advance collaboration in energy, transport, construction and infrastructure connectivity, including major projects and strategic links between the two countries.

Education, training and human resources development continued to feature prominently in bilateral cooperation. In 2026, the Vietnamese Government is providing 1,300 scholarships for Lao students at more than 170 educational institutions across Việt Nam. The two sides are also actively coordinating in the implementation of the Laos–Việt NamFriendship University project.

Việt Nam has allocated VNĐ1.12 trillion ($43 million) in aid to Laos for 2026, part of a total VNĐ10 trillion aid package for the 2026–30 period to support programmes, projects and the training of Lao officials and students. Seven projects are currently being implemented and are largely on schedule.

For the remainder of 2026, the two sides agreed to maintain strong political and diplomatic coordination and effectively implement the high-level agreements and bilateral 2026 cooperation plan.

They will step up economic connectivity, enhance complementarity between the Vietnamese and Lao economies, and strengthen links with the Cambodian economy. Priority areas include institutional cooperation, finance, transport, energy, telecommunications, and tourism.

The two sides will also encourage more Vietnamese investment in sectors where Laos has strong potential and demand, while increasing dialogue and coordination to resolve difficulties facing businesses and investors and promoting trade and energy cooperation.

Education, training and human resources development will remain a priority, particularly the training of strategic-level officials and promising young ones.

Việt Nam and Laos also agreed to improve the effectiveness of Vietnamese aid to Laos by strengthening the inspection and monitoring of project implementation, ensuring progress and quality, and exploring ways to combine aid with other legitimate funding sources for large-scale, high-impact projects supporting Laos’ socio-economic development.

The two committee chairmen agreed to direct ministries, sectors, localities and relevant agencies to maintain close coordination, accelerate the performance of tasks and resolve bottlenecks affecting key projects that are behind schedule.

The two countries are also preparing for major bilateral milestones in 2027, which will mark the 65th anniversary of Việt Nam–Laos diplomatic relations and the 50th anniversary of the signing of the Vietnam–Laos Treaty of Friendship and Cooperation. — VNA/VNS