Hanoi (VNA) – Finance Minister Din🎀h Tien Dung had a meeting with Deputy Prime Minister and Minister of Finance of Laos Somdy Douangdy💞 in Hanoi on August 4, during which both sides discussed the economic situation in each country and sought ways to boost ties between the two ministries.
The two sides agreed that despite the gloomy global economic situation, the two countries have still maintained their economic stability and growth.
Reviewing cooperation between the two finance ministries over the past years, they held that the partnership has been fruitful, especially in policy-making, personnel training, and sectoral training infrastructure improvement.
Both sides highlighted the significance of their cooperation agreement in the 2016-2020 period signed by the two ministers in April this year, considering the deal as an important orientation for their affiliation in the coming years.
Minister Dung shared Vietnam’s experience in the management of budget expense and the implementation of the Law on State Budget in 2015, as well as budget collection management and budget decentralisation.
He also shared lessons in managing import and export budget collection, preventing smuggling, operating the one-stop-shop mechanism, and applying information technology in governing activities of the Finance Ministry and its affiliates.
For his part, the Lao PM proposed that the two ministries’ departments should increase cooperation activities and experience sharing, thus supporting the Lao Finance Ministry to continue completing its organisation and financial institution system.
Earlier the same day, Somdy Douangdy was received by Deputy PM Vuong Dinh Hue.-VNA
Children from Vietnam, Laos and Cambodia gathered at a cultural exchange in Ho Chi Minh City on July 30 as part of an on-going international exchange programme.
Vietnam’s central Thanh Hoa province and Laos’s Houaphan province have reviewed a joint programme to protect forests and prevent and fight fires in shared border areas.
Vietnam and Laos have addressed all issues relating to their common border and reached consensus on border demarcation on documents and maps, and in the field.
According to Mastercard data, Vietnam has recorded a remarkable 92% compound annual growth rate (CAGR) in contactless transaction volume from Q4 2022 to Q4 2024.
Tuan expressed his confidence that LH, with its expertise and experience, would swiftly implement the urban area project, contributing to a modern urban landscape for the province.
With its strategic location, abundant workforce, and modern infrastructure, Vietnam holds significant potential to become a leading centre for power and electronics production in the region and the world.
The renewable energy workforce training and development centre, invested by Germany's GEO Group, is expected to be a cornerstone in shaping Binh Dinh as a renewable energy and innovation hub in central Vietnam, meeting the growing demand for skilled technical personnel in offshore wind, solar farms, and green hydrogen projects.
A notable trend is the shift toward satellite regions. With land scarcity and soaring prices in Ho Chi Minh City and Hanoi, investors are eyeing provinces like Hung Yen, Bac Ninh, and Hai Phong, which are benefiting from improved technical infrastructure and transport connectivity.
To further strengthen private-sector innovation, Bac Ninh plans to accelerate administrative reforms, build a digital, service-oriented government, and develop an integrated innovation ecosystem that connects businesses with domestic and international institutions, universities, and experts.
The participation of H&M, one of the world's largest fashion corporations, in Vietnam International Sourcing 2025 in Ho Chi Minh City in early September is considered a special highlight, opening up many cooperation opportunities for Vietnamese businesses in the fashion, textiles and sustainable supply chains.
This latest order builds on a previous agreement signed at the Singapore Airshow last year for 40 engines, bringing the total number of Trent 7000 engines ordered by the airline to 80.
Minister of Industry and Trade Nguyen Hong Dien acknowledged that despite concerted efforts by ministries and local authorities in combating fake and substandard goods, the situation remains highly complicated, attributing the persistent challenges to high profits luring numerous participants, increasingly sophisticated violations, limited resources within enforcement agencies.
The group also placed among the Top 5 energy companies in Southeast Asia and secured the top spot among the largest Vietnamese enterprises featured on the list.
The zone will cover 1,881 ha, comprising functional areas for production, logistics, trade and services, digital technology industry, information technology, and innovation.
Dung underlined several key objectives, including a comprehensive review of the legal framework governing SOEs, and called for updates that reflect international standards and support modern, transparent governance.
While the US market has become more difficult to access due to new tax policies, Australia could play the role of a trade cushion, helping to reduce shocks and maintain export momentum for Vietnam's shrimp industry.
Vietnam Cycle Expo 2025 will coincide with the Vietnam Sport Show 2025, an international exhibition on sports and outdoor entertainment, expected to attract more than 20,000 visitors in the three-day event.
Despite global economic uncertainties, Binh Duong has maintained strong momentum in both exports and industrial production during the first half of 2025.
Illustrative photo. (Source: VNA)
