Vietnamese, Lao ministries of planning and investment hold talks in Hanoi on June 17. (Photo: VNA)

Hanoi (VNA) – Vietnam and Laos need to promote the efficiency of the Intergovernmental Committee on Bilateral Cooperation while enhancing collaboration to facilitate Vietnamese enterprises’ operations in Laos, which help boost investment and trade between the two countries.

Minister of Planning and Investment Nguyen Chi Dung made the statement during his talks with his Lao counterpart Suphan Keomisay in Hanoi on June 17.

Minister Dung stressed that Vietnam is giving top priority to stabilising the macroeconomy, curbing the inflation rate, improving the business climate and increasing the national competitive capacity in a bid to build the country as an industrialised nation.

Vietnam and Laos have enjoyed sound relations in the past years with the implementation of bilateral agreements, the minister noted, congratulating Laos on the country’s recent achievements.

He said that he was impressed by the neighbouring country’s seven ambitious strategic development priorities to 2030, believing that the Government and people of Laos will accomplish their set targets.

Vietnam’s Ministry of Planning and Investment will support Laos to realise its goals, Dung affirmed.

For his part, Lao Minister Suphan Keomixay said that the country has enjoyed stable politics and security as well as steady economic growth.

Laos attracted 3.5 billion USD in foreign investments during 2014-2015, he said, highlighting that with 4.9 million USD poured into Laos, Vietnam has become the third largest investor among 53 countries and territories landing investment in the country.

He underscored that Laos is striving to become an upper middle income nation by 2030.

He hoped that the two ministries will continue to review and effectively implement the signed projects during 2016-2020.-VNA