Viet Nam, Laos sign cooperation agreement to enhance financial management capacity for 2026 - 2030

The exchange took place following talks between Vietnamese Prime Minister Le Minh Hung and his visiting Lao counterpart Sonexay Siphandone in Ha Noi on the afternoon of June 7.

The agreement was one of four cooperation documents exchanged during the Lao PM’s ongoing official visit to Viet Nam, reflecting the determination of the two Parties, States, as well as ministries, and sectors of the two countries to further consolidate, strengthen and deepen the great friendship, special solidarity, comprehensive cooperation and strategic cohesion between Viet Nam and Laos.

The pact builds on the achievements of the previous 2021 2025 period and aligns closely with the bilateral cooperation agreement between the two governments for 2026 2030, as well as the Viet Nam Laos governmental cooperation plan for 2026. It reaffirms the strong commitment of the Vietnamese ministry to accompanying and supporting its Lao counterpart in enhancing financial management capacity, thereby contributing to Laos’ socio-economic development and international integration efforts.

Under the agreement, the two ministries agreed to implement a comprehensive cooperation programme covering key areas, including strengthening institutional capacity, improving financial policy frameworks, enhancing the quality of human resources, upgrading facilities and professional equipment, and expanding exchanges of expertise and experience among officials from the financial sectors of both countries.

During the 2026 2030 period, Viet Nam’s Ministry of Finance will continue to prioritise support for Laos in customs administration, taxation, treasury operations, state budget management, debt management, public asset management, procurement and other important financial fields. The two sides will also strengthen cooperation in education and professional training, including the provision of master's and doctoral scholarships for officials from the Lao ministry to study in Viet Nam.

In addition, the two bodies will maintain regular high-level exchanges, promote professional cooperation among their respective departments and agencies, and encourage collaboration between local financial authorities, particularly those in provinces sharing the Viet Nam Laos border.

Cooperation activities will be implemented through a range of flexible formats, including exchange visits, expert deployments, training programmes, seminars, field studies, and both in-person and online cooperation mechanisms tailored to practical circumstances.