Vientiane:The recent meeting in Vientiane saw key figures such as Phokham Xayasone, Vice President of the Vientiane Administration Authority, and Cao Viet Sinh, former Vice Minister of Planning and Investment, now under the Ministry of Finance, along with officials from both sides, convene to review development and cooperation efforts.
According to Lao News Agency, Phokham reported that Vientiane's economy experienced steady growth, with improvements in social conditions and residents' livelihoods. The city saw positive movement in business, trade, services, and tourism, backed by initiatives to tackle economic and financial challenges.
During the first nine months of 2026, Vientiane's economy grew by 6.2%, falling short of the annual target of 8%. The gross domestic product (GDP) reached 94.72 trillion kip, against the target of 100.43 trillion kip, with GDP per capita at 78.85 million kip, compared to the target of 94.10 million kip. Industry and trade contributed 48% to GDP, with a growth rate of 7%, while the services sector, making up 38.8% of GDP, expanded by 6%. Agriculture grew by 4%, representing 13.2% of GDP, and revenue collection surpassed targets.
The meeting highlighted the ongoing political exchanges and cooperation with Vietnamese partner cities, emphasizing visits by leaders and technical delegations. Plans are underway to celebrate the Vietnam-Laos Solidarity and Friendship Year in 2027. Education and human resource development remain focal areas, with Vietnam offering 75 scholarships annually to Vientiane and providing training in Party building and state management for 30 officials.
The session reviewed Vietnamese cities' development assistance to Vientiane, including a US$5 million grant from Hanoi for a modern one-stop service centre. Ho Chi Minh City is set to fund three projects a beef cattle breeding centre, a social welfare centre, and an office building for Nonvai Village in Saysettha District.
Cooperation efforts extend across local administrative bodies, the People's Council, Party organisations, mass organisations, political institutes, and district authorities between Vientiane and its Vietnamese counterparts. The meeting concluded with both sides exchanging views on mutual interests, reaffirming their commitment to close ties and expanding practical cooperation.