VIENTIANE: Economic and trade ties are now a key factor driving relations between Laos and Vietnam towards tangible and sustainable outcomes, a Lao diplomat has said.
Counsellor and Head of the Economic and Trade Office at the Lao Embassy to Vietnam, Somsay Nonglard, highlighted the progress made in this field when talking to reporters at the embassy in Hanoi.
He spoke to the Cong Thuong (Industry and Trade) newspaper published by the Vietnamese Ministry of Industry and Trade about the shift to modern economic development.
Building on the foundation of the great friendship, special solidarity, comprehensive cooperation and strategic connectivity between the two countries, economic and trade cooperation is increasingly becoming one of the key pillars and a potent force in advancing bilateral relations towards tangible and sustainable outcomes, he said.
This is evidenced by the strong trade figures recorded last year, when the value of trade reached about US$2.98 billion, a 32.7 per cent increase compared to 2024.
According to data published on the website of the Lao Ministry of Industry and Commerce’s Department of Foreign Trade, the value of bilateral trade in the first four months of 2026 was US$855 million, of which Lao exports accounted for $654 million, ranking Vietnam third among Laos' trade destinations after Thailand and China.
Vietnam currently has 435 active investment projects in Laos with a total registered capital of about $8 billion. These investments are mainly in the fields of energy, industry, agriculture, telecommunications and infrastructure.
Somsay said cooperation in energy, industry, transport, and logistics is a highlight of economic relations.
To support this growth, the two countries are constructing major road and rail links, namely the Vung Ang-Vientiane railway and the Hanoi-Vientiane expressway, alongside regional economic corridors.
These will significantly cut transport costs and encourage more investment, while also opening up new avenues for shared development. - Vientiane TImes/ANN
