President Thongloun Sisoulith (right) shakes hands with Vietnamese President Vo Van Thuong during an official visit by the Vietnamese leader to Laos this week. - VT
VIENTIANE (Vientiane Times/Asia News Network): Vietnam’s President Vo Van Thuong announced a gift of US$1 million to Laos from Vietnam during his official two-day visit to Laos this week.
The gift was announced when President Vo Van Thuong and Lao President and Secretary General of the Lao People’s Revolutionary Party’s Central Committee, Thongloun Sisoulith, co-chaired a meeting between delegations from the two countries, Vietnam’s Ministry of Foreign Affairs said in a statement.
During their talks, the two leaders stressed the importance of increasing cooperation, mutual support, and the sharing of experiences amid complex developments in the region and the world.
They agreed to build historical sites promoting the close Vietnam-Laos relationship, including a Laos-Vietnam Friendship Park in Vientiane.
The two leaders also agreed to boost security and defence cooperation, especially in border management.
Vietnam and Laos will continue their work to search for and return the remains of Vietnamese experts and volunteer solders who died during fighting in Laos.
The two countries will also continue to share their experiences in macro-economic management and efforts to combat corruption, and improve border crossings and roads to facilitate trade.
They also signed a Memorandum of Understanding (MOU) on cooperation in technology and innovation between Laos’ Ministry of Technology and Communications and Vietnam’s Ministry of Science and Technology, and an MOU on cooperation in science between the Vietnamese ministry and the Lao Ministry of Education and Sports.
The Vietnamese leader made an official two-day visit to Laos on April 10-11 at the invitation of President Thongloun Sisoulith.
It was the first overseas trip by President Thuong since he was elected state President of Vietnam on March 2.
The two sides have agreed to jointly facilitate trade, investment and transportation to boost their economic activities.
In 2022, the value of two-way trade hit US$1.7 billion, up by 10 percent year-on-year. In February this year alone, the value of two-way trade soared to US$145 million, an increase of 36 percent year-on-year.
Vietnamese enterprises have invested a total of US$5.36 billion in 239 projects in Laos, making Vietnam the third largest foreign investor after China and Thailand. The two leaders acknowledged that the grant aid provided by Vietnam – an important aid provider to Laos – has been used effectively.
