Vietnam-Laos trade value surges over 30 percent in 2021

Two-way trade between Vietnam and Laos is estimated at 1.3 billion USD in 2021, a year-on-year rise of 30.3 percent, according to Deputy Minister of Industry and Trade Tran Quoc Phuong.

Vietnam-Laos trade value surges over 30 percent in 2021 hinh anh 1

Garment - one of Vietnam's key exports to Laos (Photo: VNA)

Two-way trade between Vietnam and Laos is estimated at 1.3 billion USD in 2021, a year-on-year rise of 30.3 percent, according to Deputy Minister of Industry and Trade Tran Quoc Phuong.

Phuong made the statement on January 9 while co-chairing a senior official meeting within the framework of the 44th session of the Vietnam-Laos Intergovernmental Committee on Bilateral Cooperation with Vice Chairman of the Laos-Vietnam Cooperation Committee Viengsavanh Vilayphone.

Currently, Vietnam has 209 valid investment projects in Laos, with a total registered capital of about 5.18 billion USD. Last year, there were five newly-registered projects and four seeing capital adjustments, with a total combined capital of 112.84 million USD, an increase of 27 percent compared to 2020.

Many projects continued to operate well, fulfil financial obligations to Lao state agencies, create stable jobs for tens of thousands of Lao workers, and make important contributions to the process of economic regulation of Laos. As a result, Vietnamese enterprises contributed more than 1 billion USD to the Laos budget, and donated about 80 million USD for social welfare activities in the past 5 years.

Viengsavanh Vilayphone acknowledged the results of economic cooperation between the two sides in 2021.

He and Deputy Minister Phuong discussed cooperative measures to be submitted to the two Prime Ministers at the 44th session of the Vietnam-Laos Intergovernmental Committee on Bilateral Cooperation.

They focused discussions on measures to address difficulties facing enterprises, particularly those related to capital, taxation, import-export, and land lease, while agreeing to coordinate in creating a stable and transparent legal corridor, and a favourable business environment.

Regarding trade and investment promotion, the two sides agreed to focus on promoting the growth of trade turnover, striving to achieve a stable increase of 10 percent or higher compared to 2021./.

Source: VNA
en.vietnamplus.vn

Related News

Vietnam kicked off the year with a strong start in trade, exceeding US$63 billion in the first month

Vietnam kicked off the year with a strong start in trade, exceeding US$63 billion in the first month

VCN - Data from the General Department of Vietnam Customs indicates a softening of both exports and imports in January 2025, relative to the same month in 2024.
Import and export turnover reaches about US$29 billion in the second half of January 2025

Import and export turnover reaches about US$29 billion in the second half of January 2025

VCN - Vietnam's total import and export turnover in the second half of January 2025 (January 16-31, 2025) reached US$28.9 billion, the latest preliminary statistics of the General Department of Vietnam Customs reported.
In the first 15 days of 2025, total import-export turnover reached more than US$34 billion

In the first 15 days of 2025, total import-export turnover reached more than US$34 billion

VCN - Total import-export turnover in the first half of January 2025 reached more than US$34 billion, the trade balance had a deficit of nearly US$2 billion.
Highlights of imports and exports in 2024

Highlights of imports and exports in 2024

VCN – In 2024, import and export set a new record of US$786.29 billion, including many outstanding results from key markets and industries.

Latest News

Việt Nam’s durian exports to China plummet by 80%

Việt Nam’s durian exports to China plummet by 80%

This sharp decline has had a direct impact on Việt Nam’s fruit and vegetable export revenue, which stood at US$416 million in January 2025, marking a 11.3 per cent decrease month-on-month and a 5.2 per cent drop year-on-year.
Coconut exports reach 14-year high

Coconut exports reach 14-year high

In 2024, fresh coconut and coconut product exports surpassed US$1 billion, marking the highest figure in the past 14 years.
Shrimp exports grow in the first month of 2025

Shrimp exports grow in the first month of 2025

According to data from the Việt Nam Association of Seafood Exporters and Producers (VASEP), shrimp products recorded a 13 per cent increase in export value in January 2025, reaching a total of $273.3 million.
Rice export prices drop, but decline expected to be short-term

Rice export prices drop, but decline expected to be short-term

Việt Nam’s rice export prices have declined, reaching their lowest level in three years.

More News

Key agro products expected to maintain export growth this year

Key agro products expected to maintain export growth this year

At present, agricultural exports, such as rice, coffee and seafood, have steadily secured a stable place in major global markets.
EU issues 12 warnings against Việt Nam’s food and agricultural exports

EU issues 12 warnings against Việt Nam’s food and agricultural exports

The Việt Nam SPS Office has reported that some Vietnamese export products failed to meet the EU’s stringent standards.
Việt Nam to impose VAT on low-value express-imported goods

Việt Nam to impose VAT on low-value express-imported goods

Việt Nam will end a previous policy that exempted imported goods valued under VNĐ1 million (US$39.4) from taxes when shipped via express delivery.
Exchange rate risks need attention in near future

Exchange rate risks need attention in near future

VCN - Exchange rate developments in 2025 are considered to be quite complicated due to US policies related to trade and investment.
Market edges up slightly as liquidity remains low

Market edges up slightly as liquidity remains low

Market breadth remained positive, with 161 gainers outnumbering 144 decliners.
Business regulations must be trimmed for development of enterprises: Experts

Business regulations must be trimmed for development of enterprises: Experts

The General Statistics Office (GSO)'s socio-economic report for January 2025 reveals that while over 33,400 newly established or resumed businesses entered the market - marking a 15% increase compared to January 2024 - more than 58,300 businesses withdrew from the market, representing a growth of 8.1% on year.
Vietnam's agricultural product exports shine in 2024

Vietnam's agricultural product exports shine in 2024

The agricultural sector wrapped up 2024 with 62.4 billion USD in export turnover, marking an 18.5% increase against 2023, while achieving a record trade surplus of 18.6 billion USD, surging 53.1%.
Aiming for 16% credit growth and removing credit room allocation

Aiming for 16% credit growth and removing credit room allocation

VCN - A representative of the State Bank of Vietnam (SBV) said that the SBV is gradually innovating its credit management methods, aiming to remove the mechanism of allocating credit room to each credit institution.
Malaysia initiates anti-dumping investigation on galvanised sheets from Việt Nam

Malaysia initiates anti-dumping investigation on galvanised sheets from Việt Nam

Malaysia has announced it will initiate an anti-dumping duty investigation on the imports of galvanised iron coils/sheets or galvanised steel coils/sheets originating from or imported from Việt Nam, China and South Korea.
Read More

Your care

Latest Most read
Việt Nam’s durian exports to China plummet by 80%

Việt Nam’s durian exports to China plummet by 80%

This sharp decline has had a direct impact on Việt Nam’s fruit and vegetable export revenue, which stood at US$416 million in January 2025, marking a 11.3 per cent decrease month-on-month and a 5.2 per cent drop year-on-year.
Coconut exports reach 14-year high

Coconut exports reach 14-year high

In 2024, fresh coconut and coconut product exports surpassed US$1 billion, marking the highest figure in the past 14 years.
Shrimp exports grow in the first month of 2025

Shrimp exports grow in the first month of 2025

According to data from the Việt Nam Association of Seafood Exporters and Producers (VASEP), shrimp products recorded a 13 per cent increase in export value in January 2025, reaching a total of $273.3 million.
Rice export prices drop, but decline expected to be short-term

Rice export prices drop, but decline expected to be short-term

Việt Nam’s rice export prices have declined, reaching their lowest level in three years.
Key agro products expected to maintain export growth this year

Key agro products expected to maintain export growth this year

At present, agricultural exports, such as rice, coffee and seafood, have steadily secured a stable place in major global markets.
Mobile Version