Viet Nam, Laos target US$10 bln in bilateral trade by 2030

Official statistics showed that the bilateral trade reached nearly US$3 billion in 2025, up 32.7 percent year on year.

Laos remains Viet Nam's largest overseas investment destination, with more than 300 projects capitalized at US$7 billion.

In the first nine months of 2026 alone, Vietnamese businesses launched 24 new projects in Laos, with investment totaling US$670 million, 1.7 times the figure recorded in the same period of 2025.

The two countries are promoting strategic infrastructure connectivity projects, including the Ha Noi-Vientiane expressway, the Vientiane-Vung Ang railway, Vung Ang Port, petroleum storage facilities and a cross-border oil pipeline project connecting Viet Nam and Laos via the Cua Lo in the central province of Nghe An and Thanh Thuy–Nam On border gate corridor, as well as cooperation in electricity.

Projects undertaken by Vietnamese enterprises have created jobs and raised incomes for hundreds of thousands of Lao workers, while contributing an average of around US$300 million annually to the Lao state budget.

Addressing the event, the Vietnamese Prime Minister called for enhancing "strategic cohesion" in economic cooperation, with an focus on connectivity in institutions and policies, transport infrastructure, logistics, energy, science and technology, and digital transformation.

The two sides should accelerate the progress of the Ha Noi-Vientiane expressway, improve the operation and efficiency of Vung Ang Port, promptly develop an appropriate plan for implementing the Vientiane-Vung Ang railway, and strengthen ties in electricity trading and power grid connectivity, laying the foundation for achieving the trade goal of US$10 billion by 2030.

Le emphasized the need to work together to improve investment and business environment, adding that Viet Nam stands ready to share its experience in institutional reform and administrative procedure simplification, while supporting Laos in maintaining macroeconomic stability, which is a prerequisite for attracting investment resources for development.

The two sides should make more effective use of cooperation mechanisms, particularly the role of the Viet Nam-Laos Intergovernmental Committee, in promptly addressing emerging difficulties and obstacles, noted the Vietnamese leader.

The Prime Minister called on Vietnamese conglomerates, State-owned enterprises and major private businesses to increase investment in Laos in high-tech agriculture, deep mineral processing, renewable energy, logistics, finance and banking, digital transformation, and tourism.

Viet Nam also welcomes Lao enterprises seeking investment and business opportunities in Viet Nam, shared the guest.

Meanwhile, the Lao Prime Minister expressed strong agreement with the Vietnamese Prime Minister's proposals on future cooperation priorities.

Laos would continue improving the business environment, investment management and promotion, while creating more favorable conditions for Vietnamese investment projects to operate more smoothly and effectively, he said.

At the conference, the two Prime Ministers witnessed the exchange of 17 investment certificates and cooperation agreements between the two nations' agencies and businesses./.