Wed, 27 Sep 2023

Laos-Vietnam trade hits 833 mln USD in H1

15 Sep 2023, 17:55 GMT+10

VIENTIANE, Sept. 15 (Xinhua) -- The combined trade value of imports and exports between Laos and Vietnam in the first six months of 2023 exceeded 833 million U.S. dollars, a slight increase of 1.06 percent compared to the same period in 2022.

The value of goods imported by Laos from Vietnam was estimated at 267 million U.S. dollars, a decrease of 13.67 percent, while the value of goods exported by Laos to Vietnam soared to more than 565 million U.S. dollars, an increase of 9.94 percent, the local daily Pasaxon newspaper reported on Friday.

From 2021-2025, Vietnam will import electricity from Laos in line with set goals, under power purchase agreements signed by Vietnam involving 26 electricity generating plants with a total installed capacity of 2,240 MW.

Three plants are operational, with a combined production capacity of 572 MW, while the other 23 plants are under construction and have a total installed capacity of 1,668 MW. They are expected to start generating electricity for sale to Vietnam in 2023-2025.

Since 2021, the Lao government has granted investment permits to Vietnamese companies to carry out development projects with a total investment value of more than 458 million U.S. dollars.

Since the start of 2023, the Lao government has issued investment licenses to Vietnamese enterprises to carry out six projects in mining, general business, and wind power, according to the report.

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