Vietnam-Laos trade increases by 19.2 percent in Q1

Two-way trade turnover between Vietnam and Lao topped 403 million USD in the first quarter of this year, up 19.2 percent over the same period last year, according to the Vietnamese Trade Office in Laos.
Vietnam-Laos trade increases by 19.2 percent in Q1 ảnh 1Illustrative image (Photo: VNA)

Vientiane (VNA) – Two-way trade turnover between Vietnam and Lao topped 403 million USD in the first quarter of this year, up 19.2 percent overthe same period last year, according to the Vietnamese Trade Office in Laos.

Of which, Vietnam's exportrevenue hit 130 million USD, down 18 percent over the same period, while itsimports from Laos picked up 52.4 percent year-on-year to 272 million USD.

Commodities that enjoyed highgrowth in the period include fertiliser, petrol, electric wire and cable with year-on-year rises of 161.6 percent, 142.3 percent and 42.5 percent,respectively.

Items that experienced a dropin export revenue include coffee with 80.7 percent, common metals and finishedproducts with 76.6 percent, wood and wooden products with 49.7 percent.

Data from the trade officeshowed a rise in revenue of all items imported from Laos. Notably, Vietnam spentmore than 28 million USD importing Lao ore and minerals, 405 percent higher thanthe same period last year.

It attributed the decrease in Vietnam's export turnover and rise in import turnover in thefirst quarter of this year to the fact that prices of products imported from Laos have surged due to a scarcity in supply caused by the Russia-Ukraine conflict./.

VNA

See more

NA Chairman Tran Thanh Man speaks at the session on February 13. (Photo: VNA)

NA weighs new policies to boost science, technology, innovation

The resolution, presented at the February 13 session of the NA Standing Committee, seeks to establish a legal framework that would effectively boost national scientific-technological advancement and digital transformation, making them driving forces for socio-economic development to deliver on the dual targets by 2030 and 2045 as outlined at the 13th National Party Congress.

CPI in January 2025 rose by 0.98% compared to December 2024 (Photo: thoibaotaichinhvietnam.com)

Fiscal, monetary policies support demand stimulation, price stabilisation

These efforts, in conjunction with the implementation of monetary policies and other macroeconomic policies, aim to solve difficulties for businesses and the public, stabilise the macroeconomy, control inflation, ensure the balance of the economy, promote economic growth, and secure social welfare and people's livelihoods.

People line up to register for land auctions in Hoai Duc district, Hanoi. (Photo: VNA)

Affordable housing for young buyers a win-win: HoREA

Most young people are ambitious and have a long career path ahead of them to generate income and repay loans. Typically, within 10-15 years, their earnings will double or triple, making such loans low-risk for banks, said HoREA

An apartment and villa complex in Ha Dong district, Hanoi. (Photo: VNA)

Taxes on real estate based on time property is held not feasible: Justice Ministry

In their latest draft of a proposal to establish a new Law on Personal Income, to replace the current one, the MoF has proposed the Government impose taxes on income from real estate transactions based on the period of ownership – or holding period – which is the time between when an investor buys and sells a land or property.

Part of Ha Long city in Quang Ninh province (Photo: VNA)

Quang Ninh targets 14% GRDP growth in 2025

Secretary of the Quang Ninh Party Committee Vu Dai Thang emphasised that achieving this target would require Quang Ninh’s economy to reach approximately 395 trillion VND (15.4 billion USD) in 2025.