While receiving Vietnamese Minister of Industry and Trade Vu Huy Hoang in Vientiane on March 13, the PM said that industry, trade, mining and energy sectors make up a large proportion in investment cooperation between the two countries. He said that Laos and Vietnam need to solve pending issues that hinder cooperation projects in these sectors to promote bilateral cooperation.

For his part, Mr Hoang said that his visit is to concritise the agreements reached by the two countries’ leaders, especially cooperation projects in the areas of trade, industry, energy and mining.

He said during the visit Vietnam and Laos will sign an agreement on goods transit to facilitate the distribution of their goods to a third country. His ministry will also sign a memorandum of understanding with the Lao Energy and Mining Ministry to increase bilateral cooperation.   

The two sides will review the implementation of the signed agreements in Laos, including power projects with the aim of generating 5,000MW by 2020. They will also discuss measures to increase two-way trade to US$1 billion in 2010 and US$2 billion by 2015.