Minister Le Manh Hung holds talks with Lao Minister of Industry and Commerce Malaithong Kommasith

Attending the talks on the Vietnamese side were leaders of several Ministry of Industry and Trade units, including the Department of Oil, Gas and Coal, the Agency of Foreign Market Development, the Electricity Authority, the Agency for Domestic Market Management and Development, the Agency of Foreign Trade, the Agency for Industry, the Vietnam Trade Promotion Agency, the Ministry Office, as well as representatives of the Vietnam National Coal and Mineral Industries Group (Vinacomin).

The Lao delegation comprised leaders of departments under the Ministry of Industry and Commerce, representatives of Electricité du Laos (EDL), the Department of Geology and Mines, together with officials from the Lao Embassy and the Lao Trade Office in Vietnam.

Minister of Industry and Trade Le Manh Hung and Lao Minister of Industry and Commerce Malaithong Kommasith hold talks at the headquarters of Vietnam's Ministry of Industry and Trade on 31 July.

The talks were held in a spirit of friendship, sincerity and mutual trust, reflecting the two ministries' shared determination to translate the agreements reached by the senior leaders of the two Parties and the two States into concrete actions. The meeting also reviewed the implementation of previously agreed cooperation initiatives and discussed measures to strengthen collaboration in trade, energy, industry and minerals.

Addressing the meeting, Minister Le Manh Hung welcomed Minister Malaithong Kommasith and the Lao delegation to Vietnam. He commended the close coordination between the two ministries in recent years, particularly following the establishment of the Bilateral Coordination Committee between the Ministry of Industry and Trade of Vietnam and the Ministry of Industry and Commerce of Laos, along with five specialised working groups.

The Minister noted that this mechanism has become an important platform for swiftly translating high-level bilateral commitments into concrete programmes, practical tasks and tangible outcomes.

The talks between Minister of Industry and Trade Le Manh Hung and Lao Minister of Industry and Commerce Malaithong Kommasith are held in an atmosphere of friendship, mutual trust and close cooperation.

Minister Malaithong Kommasith expressed his appreciation to the Government of Vietnam and the Ministry of Industry and Trade for their continued support to Laos across a wide range of areas, particularly in ensuring energy security, developing infrastructure and advancing economic cooperation.

He stressed that both sides should continue to work closely together to implement the tasks assigned by the senior leaders of the two countries, with the aim of improving the quality and effectiveness of bilateral economic and trade cooperation in a sustainable manner.

Unlocking new growth drivers for bilateral trade

Discussing trade cooperation, Minister Le Manh Hung stressed that to realise the shared goal of increasing bilateral trade to USD 4 billion, before expanding it to USD 5 billion and ultimately USD 10 billion, in line with the strategic direction set by the senior leaders of the two countries, both sides need to move beyond setting overall trade targets and instead identify clear growth drivers by sector, product category and individual projects.

Minister of Industry and Trade Le Manh Hung commends the close coordination between the two ministries in recent years.

The Minister called on the relevant agencies of both ministries to promptly review import and export performance across commodity groups, analyse the factors behind increases and declines, and formulate detailed monthly and quarterly action plans. He also urged stronger engagement with the business community to remove bottlenecks, expand market opportunities and unlock the full potential of bilateral cooperation.

The two ministers agreed to continue prioritising sectors with significant growth potential, including electricity, coal, petroleum, minerals, construction materials, machinery and equipment, chemicals, agricultural products and consumer goods. They also agreed to strengthen trade promotion activities, facilitate business matching, and enhance connectivity between supply chains and distribution networks in both countries.

Enhancing energy cooperation to strengthen energy security in both countries

Energy cooperation remained one of the key focuses of the talks. In the electricity sector, the two ministers agreed to continue effectively implementing the intergovernmental agreements on cross-border electricity trade, accelerate negotiations on power purchase agreements (PPAs), and expedite the completion of technical procedures and grid connection agreements so that eligible projects can be brought into operation at the earliest opportunity.

Minister Le Manh Hung commended the Lao side for proactively incorporating transmission infrastructure into its power development planning to facilitate electricity exports to Vietnam. The two sides agreed to assign their respective technical agencies to continue coordinating on transmission interconnection options, power grid planning and the identification of suitable connection points in line with each country's power development plans, ensuring system compatibility, operational safety and efficiency.

They also agreed to continue reviewing delayed projects and prioritise those with high feasibility in order to effectively implement the electricity cooperation agreements between the two countries.

In the petroleum sector, the two ministers discussed measures to further strengthen cooperation in safeguarding the energy security of both countries. Minister Le Manh Hung reaffirmed Vietnam's readiness to expand petroleum supplies to Laos, while proposing that both sides continue working together to improve the effectiveness of bilateral cooperation by addressing bottlenecks related to regulatory mechanisms, logistics, pricing and payment arrangements, thereby creating more favourable conditions for businesses in both countries.

Lao Minister of Industry and Commerce Malaithong Kommasith expresses appreciation to the Government of Vietnam and the Ministry of Industry and Trade for their continued support to Laos across a wide range of sectors.

Regarding energy infrastructure development, the two ministers agreed to continue implementing the directions of the senior leaders of the two countries on studying the development of petroleum storage facilities and transportation infrastructure. The initiative is expected to strengthen energy connectivity while reinforcing the long-term energy security of both countries.

The two sides tasked their relevant agencies with continuing consultations and examining appropriate implementation options to ensure investment efficiency, infrastructure compatibility and favourable conditions for enterprises from both countries to participate in these projects.

Expanding cooperation in industry and minerals

In the areas of industry and minerals, the two ministers agreed to further strengthen cooperation by making more effective use of existing potential, promoting downstream processing, increasing value addition and supporting sustainable development.

Minister Le Manh Hung reaffirmed Vietnam's position that Vietnamese enterprises investing in Laos must strictly comply with Lao laws and fully fulfil all obligations in accordance with local regulations. At the same time, he proposed that the two sides strengthen coordination in reviewing individual investment projects, promptly resolving difficulties facing well-performing enterprises while strictly handling violations in accordance with the law.

The two ministers also agreed to enhance information sharing, strengthen coordination in investment management, exchange import and export data on minerals, and cooperate more closely in preventing mineral smuggling and illegal cross-border transportation.

They assigned the Industry and Minerals Working Group to continue reviewing existing cooperation mechanisms and propose practical measures to facilitate investment and business activities, enabling enterprises from both countries to operate efficiently and in full compliance with the law.

Further improving the bilateral economic and trade cooperation framework

The two ministers agreed to continue working closely to further strengthen the legal and institutional framework for economic, trade and investment cooperation between the two countries, with particular attention to facilitating cross-border economic activities.

The two sides tasked their respective agencies with intensifying consultations and jointly studying appropriate policy mechanisms to promote border trade, enhance the connectivity of trade and logistics infrastructure, and create a more favourable business environment for enterprises from both countries to expand investment and commercial cooperation.

Concluding the talks, the two ministers agreed to continue directing the working groups and relevant agencies of the two ministries to strengthen coordination and closely monitor the implementation of the tasks assigned to them.

They also agreed to regularly review progress, promptly address emerging challenges, and accelerate the implementation of key cooperation projects in trade, energy, industry and minerals. These efforts are expected to deepen bilateral cooperation in the industry and trade sectors, making it more substantive, effective and results-oriented, while contributing to the further consolidation of the great friendship, special solidarity and comprehensive cooperation between Vietnam and Laos.