Finance Ministries of Vietnam and Laos promote comprehensive cooperation

VCN – On May 28, Minister of Finance Ho Duc Phoc had a meeting with Mr. Santiphab Phomvihane, Minister of Finance of the Lao People's Democratic Republic.
Deputy Director General Hoang Viet Cuong  welcomes Deputy Director General of Laos Customs Deputy Director General Hoang Viet Cuong welcomes Deputy Director General of Laos Customs
Vietnam, Laos sign new trade agreement Vietnam, Laos sign new trade agreement
Finance Ministries of Vietnam and Laos promote comprehensive cooperation
The meeting.

At the meeting, Minister Ho Duc Phoc said that the traditional friendly relationship between the two countries’ increasingly develops.

Evaluating the results of implementing the cooperation agreement in 2023, Minister Ho Duc Phoc said that the two sides have implemented 26 of 35 contents set out in the agreement, the remaining contents will be implemented in 2024 and the two sides will sign new cooperation agreement to implement in the next phase.

Finance Ministries of Vietnam and Laos promote comprehensive cooperation
Minister of Finance Ho Duc Phoc speaks at the meeting.

At the meeting, the Minister shared some experiences in operating and managing the financial sector such as institutional improvement and public debt management. The Minister said the importance of institutional improvement and affirmed that this is also one of the breakthroughs in Vietnam's economic development.

The Minister affirmed that the Ministry of Finance of Vietnam is ready to share experiences and support the Ministry of Finance of Laos for sustainable development of both sides. The Ministry of Finance of Vietnam will continue to send specialized units to closely coordinate with units of Lao Ministry of Finance to share experiences and implement specialized contents.

The two countries' Ministries of Finance sign the Minutes of the 18th meeting of the Steering Committee of the Cooperation Program between the two Ministries of Finance of Vietnam and Laos.

Minister Ho Duc Phoc expressed his belief that the comprehensive cooperative partnership between the two countries' Ministries of Finance will increasingly develop, contributing to enhancing the traditional friendly cooperation and comprehensive cooperation between the two Parties, two States, and the people of the two countries.

At the meeting, Lao Minister of Finance Santiphab Phomvihane affirmed that cooperative activities have helped the Ministry gain more professional experience to overcome difficulties in financial and budget management and training for officers in the fields of Tax, Customs, and State Treasury...

Finance Ministries of Vietnam and Laos promote comprehensive cooperation
The two Ministries signed the Minutes of the 18th meeting of the Steering Committee of the Cooperation Program between the two Ministries of Finance of Vietnam and Laos.

The Lao Minister discussed on key contents that the two sides will promote cooperation in 2024, such as supporting the development orientation of the Lao Finance industry in the medium and long term; assisting institutional reform and improvement of the legal framework; supporting the implementation of research, dissemination and appraisal of draft laws and guiding documents of the Lao Finance industry.

Minister Santiphab Phomvihane hoped that the cooperation program between the two sides will increasingly develop well, thereby helping the Lao Ministry of Finance improve financial management capacity, and officers of the two sides to strengthen understanding and support each other.

At the meeting, representatives of the two Ministries signed the Minutes of the 18th meeting of the Steering Committee of the Cooperation Program between the two Ministries of Finance of Vietnam and Laos.

By Hoai Anh/Ngoc Loan

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