Vietnamese Prime Minister Le Minh Hung (right) greets Lao Prime Minister Sonexay Siphandone during talks held in Hanoi, Vietnam, on June 7.

Laos, Vietnam deepen strategic partnership, target US$10 billion trade record

Bound by a unique bond forged through decades of solidarity and mutual support, Laos and Vietnam are entering a new phase of cooperation marked by deeper strategic alignment, expanding economic ties, and a shared vision for future development.
Efforts in this direction are receiving a boost from Prime Minister Sonexay Siphandone’s official visit to Vietnam from June 7-9, with the leaders of both countries reaffirming their commitment to strengthening the great friendship, special solidarity, comprehensive cooperation and strategic partnership between the two neighbouring nations.
At the invitation of Vietnamese Prime Minister Le Minh Hung, Prime Minister Sonexay and a high-level Lao delegation paid an official visit to Vietnam and attended the 3rd ASEAN Future Forum.
The premiers of Laos and Vietnam met for bilateral talks in Hanoi, reviewing progress in cooperation and sharing views on regional and international issues of mutual concern.
In particular, the talks highlighted the outcomes of enhanced economic cooperation, reflecting the growing strength of bilateral relations. The value of two-way trade increased from US$1.64 billion in 2023 to US$2.25 billion in 2024 and reached nearly US$3 billion in 2025, representing growth of 32 percent over the previous year.
Vietnam remains one of the leading foreign investors in Laos. As of May 2026, Vietnamese businesses had invested in 289 projects with a combined registered capital of nearly US$7 billion. Vietnamese investment in Laos reached US$590.3 million in 2025, more than seven times higher than in 2024, while eight new projects worth US$176.66 million were licensed in the first quarter of 2026.
Investment is increasingly concentrated in high-value sectors, including renewable energy, high-tech agriculture, telecommunications, finance, logistics, digital transformation and mineral processing.
The two countries have also strengthened economic ties through local-currency settlement arrangements and bilateral QR-code payment systems, facilitating trade, investment and tourism.
Building on this momentum, the two prime ministers agreed to strengthen information-sharing and to share experiences in implementing the resolutions of their respective Party congresses and national socio-economic development plans for 2026-2030.
They also pledged to accelerate economic integration, promote strategic projects and support regional development initiatives, with the goal of raising bilateral trade to US$10 billion in the coming years, according to a report by the Vietnam News Agency (VNA).
Defence and security cooperation remains a key pillar of bilateral relations, contributing to political stability and social order in both countries. The two sides also agreed to deepen political cooperation and ensure the effective implementation of agreements reached by the senior leadership of both countries.
Education, training and human resource development continue to be important areas of cooperation.
In 2025, Vietnam awarded 1,185 scholarships to Lao nationals, while Laos provided 60 scholarships to Vietnamese citizens. Both sides reaffirmed their commitment to expanding educational exchanges and developing a highly skilled workforce to support future growth.
Cultural and people-to-people links also continue to strengthen bilateral ties. In December 2025, senior leaders from both countries attended the inauguration of the Laos-Vietnam Friendship Park in Vientiane, while Vietnam Culture Week in Laos this year launched a new phase of cultural and tourism cooperation for 2026-2030.
Following their talks, the two prime ministers witnessed the signing of four cooperation documents covering finance, ethnic and religious affairs, education, and communications and transport.
Later that day, Prime Minister Sonexay Siphandone and his delegation paid tribute at the Ho Chi Minh Mausoleum and the Monument to Heroic Martyrs of Vietnam before attending an official banquet hosted by Prime Minister Le Minh Hung.
As Laos and Vietnam prepare for the Friendship and Solidarity Year in 2027, both governments have reaffirmed their determination to preserve and further strengthen a relationship widely regarded as a unique model of friendship, solidarity and mutually beneficial cooperation.

By Times Reporters
 (Latest Update June 9, 2026)