AEM-54: Vietnam affirms importance of economic ties with Laos
Minister of Industry and Trade Nguyen Hong Dien affirmed the importance of economic cooperation between Vietnam and Laos in the current world situation during his talks with his Lao counterpart Malaythong Kommasith on September 14.
Minister of Industry and Trade Nguyen Hong Dien (Photo: VNA)
Phnom Penh (VNA) – Minister of Industry and Trade Nguyen HongDien affirmed the importance of economic cooperation betweenVietnam and Laos in the current world situation during his talks with his Lao counterpart Malaythong Kommasithon September 14.
The meeting took place in Phnom Penh, Cambodia on thesidelines of the 54th ASEAN Economic Ministers’ Meeting (AEM-54).
Dien appreciated growth in bilateral trade ties, with two-waytrade surging by 27% year-on-year to nearly 1.1 billion USD in the first eightmonths of 2022.
However, the figure is not commensurate with the two sides’ specialfriendship and comprehensive solidarity as well as their potential, he noted.
To fully tap the potential, the Vietnamese minister proposedhis Lao counterpart encourage the two countries’ businesses to cooperate andinvest in the fields that can serve their production and export.
Vietnam will increase the import of electricity from Laos andsupport the country overcome economic difficulties, Dien affirmed, suggestingthe Lao ministry coordinate closely with the Vietnamese side to soon completenegotiations towards the signing of bilateral cooperation documents such as theamended trade agreement, and a memorandum of understanding on border tradeinfrastructure connectivity and development between the two nations.
Malaythong Kommasith thanked the Vietnamese ministry forsupporting Laos' imported petroleum transit through Vietnam. In this regard,the two ministers agreed that it is necessary to have more specific plans inthe medium and long terms to ensure a sustainable and stable supply of thisfuel, including the development of transport connectivity between the twocountries.
They also agreed to encourage and create favourable conditions for businesses’cooperation to maximise their potential and make better use of investmentopportunities./.
Deputy Auditor General of Vietnam Ngo Van Tuan hosted a reception in Hanoi on September 6 for President of the State Audit Authority of Laos Viengthavisone Thephachanh, who is on Vietnam visit from September 6-10.
Trade turnover between Vietnam and Laos hit 1.076 billion USD in the first eight months of this year, an increase of 27% compared to the same period last year.
The Party, State, Fatherland Front and people of Vietnam always attach great importance to and give the top priority to strengthening the great friendship, special solidarity and comprehensive cooperation between Vietnam and Laos, President of the Vietnam Fatherland Front (VFF) Central Committee Do Van Chien told a Lao front official in a meeting in Hanoi on September 13.
A key change in the draft decree is a provision requiring bank transfers for gold transactions valued at 20 million VND (765 USD) and above, to enhance transparency and verify customer identities.
In the first four months of 2025, trade turnover between Vietnam and Cambodia surpassed 3 billion USD, marking a 7% increase compared to the same period in 2024.
On June 19 alone, a total of 2,005 trucks completed customs clearance at Lang Son’s border gates — the highest single-day figure ever recorded in the province. Of these, 634 carried exports and 1,371 imports.
The OECD Economic Surveys: Vietnam 2025 report focuses on analysing the country’s macroeconomic fundamentals, the impact of international integration on attracting foreign investment and trade, and the country’s prospects for developing a low-carbon economy.
Antoine Colin, Senior Vice President for Global Supply Chain Digital Transformation & Resilience at HP Inc., affirmed HP’s strategic commitment to building a supply chain and ecosystem in Vietnam and the region.
Deputy Director General of the Ministry of Industry and Trade (MoIT)’s Trade Promotion Agency Bui Quang Hung emphasised that logistics has evolved from a technical function into a core capability for Vietnamese exporters to maintain their competitive advantage in the US market.
A trade official has suggested companies work closely with shipping lines, airlines, and freight forwarders to monitor routes, transit times, and potential surcharges while exploring broader cargo insurance to cover risks like war and terrorism.
In addition to institutional reform, the agency is also rolling out key solution groups to combat counterfeit goods, imitations, and intellectual property infringements in the digital environment.
The event, co-organised by the Vietnam Trade Office in the UK and TT Meridian, a local importer of Vietnamese fresh produce, aims to build a national lychee brand and encourage broader recognition of Vietnamese fruits in a competitive, high-end market.
The industry's performance has been powered by bold investments in modern production lines, enabling Vietnamese firms to produce complicated products which were exclusive to advanced economies.
Outcomes of ABAC III will shape ABAC’s final policy recommendations to be submitted to the ABAC-APEC leaders’ dialogue, scheduled to take place in the Republic of Korea this November.
This is the second year the magazine has released the ranking, which is based on total revenue and key financial indicators of enterprises from seven countries in the region: Vietnam, Indonesia, Thailand, Malaysia, Singapore, the Philippines, and Cambodia.
At the summit, publishing, tech, and media sectors will discuss emerging trends, business models, and sustainable solutions for digital publishing development in Vietnam.
This year’s “Vietnam Goods Week” marks a significant milestone as it is being held simultaneously for the first time in four locations across Asia: Japan, Hong Kong (China), Cambodia, and Malaysia, from June 19 - 22.
According to NordCham Vietnam Chairman Thue Quist Thomasen, the Vietnamese Government’s commitment to achieving net-zero emissions by 2050 is both a challenge and an opportunity for businesses to contribute to green and sustainable growth.
The analysis from an investment perspective shows that the economy’s growth has been heavily capital‑driven, yet efficiency remains low as reflected by Vietnam’s Incremental Capital-Output Ratio (ICOR) being significantly higher than global and regional averages. This underscores the imperative to enhance capital‑use efficiency.
Minister of Industry and Trade Nguyen Hong Dien (Photo: VNA) 
