The meeting, co-chaired by Deputy Prime Minister of Vietnam Nguyen Xuan Phuc and his Lao counterpart Somsavad Lengsavath, agreed to realize a protocol amending an agreement on investment protection and promotion between the two governments.

They agreed to periodically exchange each other’s investment data to increase management efficiency, work closely to facilitate Vietnamese businesses’ operations in Laos, and effectively implement a trade development plan between the two countries.

 

The two Governments will continue to work through their 2011–2020 cooperation strategy and the 2011-2015 cooperation agreement, with priority given to realizing joint statements and high-level agreements between their top leaders.

They will inculcate the special Laos-Vietnam solidarity in younger generations, increase high-level visit exchanges, effectively and sustainably use Mekong River water resources, enhance border management, and coordinate closely at regional and international forums.

The two sides agreed 2013’s economic, cultural, educational, scientific, and technological bilateral cooperation fulfilled expectations. The year saw the continuing implementation of the two countries’ Joint Statements and other diplomatic agreements, high-ranking visit exchanges, inter-Party seminars, defence and security cooperation, and mutual support at regional and international forums.

Both countries value human resource development. Vietnam has granted 825 scholarships to Lao students and officials in 2013.

Laos has so far this year approved investment licenses for 12 Vietnamese projects worth US$138 million, bringing the total number of Vietnamese projects based in Laos to 412, totaling US$5 billion, making Vietnam one of Laos’ leading foreign investors.

Two-way trade turnover reached US$817 million by the end of October. Cooperation in transport, science and technology, information, culture, sports, and tourism has also been enhanced, reinforcing bilateral ties.

At the meeting, the two sides signed an agreement on economic, cultural, educational, scientific, and technological cooperation for 2014, and a number of other important diplomatic documents.

VOV