On the morning of December 3, 2025, in Vientiane, Vietnamese Prime Minister Pham Minh Chinh and Lao Prime Minister Sonexay Siphandone co-chaired the 48th Meeting of the Vietnam–Laos Intergovernmental Committee on Bilateral Cooperation. This session held particular significance as it took place immediately after the high-level meeting between the two Parties, and at a time when both countries are concluding the 2021–2025 cooperation period and shaping orientations for the next period.
48th Meeting of the Vietnam–Laos Intergovernmental Committee on Bilateral Cooperation
48th Meeting of the Vietnam–Laos Intergovernmental Committee on Bilateral Cooperation
At the meeting, Deputy Governor Nguyen Ngoc Canh delivered an important address highlighting key achievements and outlining cooperation directions aimed at further advancing economic connectivity between the two countries. He emphasized the encouraging progress in banking cooperation, which has contributed to deepening the traditional friendship and special solidarity between Vietnam and the Lao PDR. In 2025, the two central banks and commercial banks of both countries have been actively implementing measures to promote the use of VND/LAK in payment transactions, enhancing economic autonomy and reducing dependence on other foreign currencies, with many positive results.
Deputy Governor Nguyen Ngoc Canh delivers his address at the 48th Meeting of the Vietnam–Laos Intergovernmental Committee
After more than eight months of implementation, the total VND/LAK transaction volume through the banking system had reached nearly VND 904 billion and over LAK 1,300 billion (equivalent to USD 110 million), accounting for more than 10% of the total amount of bilateral payment transactions. Cross-border lending in VND also recorded four projects with the total registered loans of approximately VND 48,055.5 billion, of which nearly VND 20,000 billion has already been disbursed. The project on retail payment connectivity using QR codes has been completed for the Vietnam-to-Lao PDR direction since January 2025, with transaction volume rising rapidly. Technical connectivity for the Lao PDR–Vietnam direction has also been finalized and will soon be officially launched, further facilitating tourism and bilateral exchanges.
For the next cooperation phase, the two central banks will continue directing their banking systems to prioritize resources for the effective implementation of the 2026-2030 Memorandum of Understanding; maintain the goal of increasing the use of local currencies in trade and investment activities; accelerate digital transformation; and complete the cross-border payment infrastructure connectivity.