Southeast Asia Information Port News: On December 3, 2025, Lao Prime Minister Somsay Siphandone and Vietnamese Prime Minister Pham Minh Chinh co-chaired the 48th Intergovernmental Committee meeting in Vientiane. The two sides approved the 2026 cooperation plan and witnessed the signing of several documents, including meeting minutes and a cooperation agreement for 2026-2030.
The meeting acknowledged the strong progress in bilateral cooperation: bilateral trade is projected to reach US$3 billion in 2025, a 1.5-fold increase compared to 2024, exceeding the established target; trade volume from January to October this year has already reached US$2.3 billion, with Laos achieving a trade surplus of US$904 million. Both sides pledged to increase trade volume by 10%-15% in 2026, with a long-term goal of US$10 billion in annual trade and a medium-term target of US$5 billion.
Cooperation in the investment sector also shone brightly. According to Vietnamese media outlet VnEconomy, by 2025, Vietnam's registered investment in Laos will reach US$6.21 billion, making it Vietnam's largest investor among 85 destination countries. Major energy projects such as the Chung Son Wind Power Project and the Savan 1 Wind Power Project are progressing steadily.
The two prime ministers agreed to elevate bilateral relations to a new level of "great friendship, special solidarity, comprehensive cooperation, and strategic integration," establishing a cooperation framework "with political relations at its core, defense and security and economic cooperation as key pillars, and science, technology, education, and training as key breakthrough areas." Human resource development is a priority; currently, over 10,000 Lao students are studying in Vietnam, and Vietnam continues to provide scholarships and vocational training support to Laos.
The meeting also clarified the strategic direction of cooperation for 2026-2030, focusing on strengthening economic ties, deepening energy cooperation, promoting investment facilitation, improving transportation connectivity, agricultural cooperation, and coordinating border provinces. They reaffirmed their commitment to comprehensively strengthening cooperation in all areas to continuously empower bilateral trade, investment, and development.
