Vietnam Consider Continued Purchase of Electricity from Laos

Vietnam is considering the continued purchase of electricity from Laos's projects, said Prime Minister Pham Minh Chinh

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Vietnam Consider Continued Purchase of Electricity from Laos
Prime Minister Pham Minh Chinh (R) and Minister – Head of the Lao Prime Minister’s Office Alounxai Sounnalath. Photo: VGP

Prime Minister Pham Minh Chinh hosted a reception in Hanoi on September 9 for Minister – Head of the Lao Prime Minister’s Office Alounxai Sounnalath, VNA reported.

Briefing the guest about Vietnam’s socio-economic situation, PM Chinh affirmed that Vietnam is ready to stand side by side with Laos to deal with socio-economic issues amid uncertain and complicated developments in the world.

Trade ties between Vietnam and neighbouring Laos have been growing since they established diplomatic relations 60 years ago (September 5, 1962-2022).

He expressed his delight that two-way trade topped USD 950 million in the first eight months of this year, up 24% from the same period last year. The Vietnamese Government provided VND 733 billion in aid for the Lao counterpart and the sum was disbursed for training and projects.

Hailing the Lao PM’s Office and the Vietnamese Government Office for regularly sharing experience, the PM suggested they effectively implement the Memorandum of Understanding on the cooperation plan for the 2022-2023 period; work closely together to step up the implementation of agreements reached during the Lao PM’s visit to Vietnam early this year; and prepare for high-level visits and remaining activities during the 2022 Vietnam-Laos, Laos-Vietnam Year of Solidarity and Friendship.

PM Chinh asked the two sides to actively coordinate to address problems so as to accelerate the progress of cooperation projects; create all possible favourable conditions for Vietnamese businesses to invest in Laos and Lao enterprises to do business in Vietnam, especially those in agriculture.

He added that Vietnam is considering the continued purchase of electricity from Laos’s projects.

Alounxai, for his part, informed the PM about the results of his earlier talks with the Vietnamese Government Office.

The minister affirmed that Laos always treasures and wants to preserve, nurture and develop its great friendship and special solidarity with Vietnam.

He pledged to actively implement directions and agreements by the two countries’ senior leaders, thus contributing to fostering the special solidarity and friendship nurtured by generations of Party and State leaders and people of both nations.

Vietnam Consider Continued Purchase of Electricity from Laos
At the meeting. Photo: VGP

Earlier, National Assembly Chairman Vuong Dinh Hue held a reception in Hanoi on September 7 for President of the State Audit Authority of Laos Viengthavisone Thephachanh, who is on a Vietnam visit from September 6-10.

Hue said the Vietnamese NA is ready to create favourable conditions for the two agencies to strengthen their cooperation and fulfill their assigned tasks, hoping that the state audit agencies of Vietnam and Laos will further enhance the exchange of delegations, training and experience sharing for their auditors.

The Lao official said that he would propose the Lao National Assembly consider and amend the Law on State Audit and build regulations for the Lao audit agency to operate more effectively.

Concurring with the Lao official’s suggestions, Hue affirmed that the NA and the SAV are willing to share experience with their Lao counterparts in reviewing and supplementing the Law on State Audit of Laos.

On this occasion, the NA Chairman proposed the state audit agencies of the two countries continue to maintain the cooperation mechanism between the state audit agencies of Vietnam, Laos and Cambodia as well as bolster collaboration in organisations such as the Asian Organisation of Supreme Audit Institutions (ASOSAI) and the ASEAN Supreme Audit Institutions (ASEANSAI).

Vietnam and Laos share a border of more than 2,300km which runs through 10 cities and provinces on each side. Notably, there are nine international border gates, six main gates, 18 auxiliary gates and many trails, along with nine border gate economic zones.

Vietnam is among the three biggest investors in Laos. Bilateral trade reached USD 1.37 billion in 2021, a year-on-year rise of 33.32%, the highest over the past decade.

Vietnam’s exports to Laos reached USD 594.7 million, up 4%,while imports hit USD 778.2 million, up 69.8%.

Hannah Nguyen