The trade cooperation between Vietnam and Laos has kept growing with the two-way trade turnover reaching $927.8 million in the first half of the year, up 11.1% year-on-year, heard a mid-term review conference held in central Nghe An province on August 16.

The conference reviewed the implementation of the Vietnam - Laos cooperation plan 2024 and the bilateral cooperation plan for 2021-2025.

Of which, Vietnam exported products worth $289.2 million to Laos, a year-on-year increase of 7.4%.

In the 2021-2023 period, the annual average growth rate of the bilateral trade was estimated at 17.7%.

In the first seven months of 2024, Vietnam’s registered investment capital in Laos stood at $36.7 million, an increase of 39.5% year on year.

Vietnam has so far invested 256 projects in Laos with a total registered capital of $5.5 billion.

In terms of transport and construction cooperation, the two sides inked a memoranda of understanding on feasibility studies,  while field surveys are being conducted for some projects such an expressway linking Vientiane and Hanoi and a rail route connecting  Vientiane and Tha Khek of Laos to Vung Ang in Vietnam's central coastal Ha Tinh province. 

They are also stepping up the implementation of the agreements and protocols on investment cooperation to develop Terminals 1, 2, and 3 of Vung Ang Port.