The Vietnamese Ministry of Industry and Trade and the Lao Ministry of Energy and Mines signed a Memorandum of Understanding on field cooperation for over 5 years on the afternoon of July 20. Accordingly, Laos is expected to export about 20 million tons annually to Vietnam, depending on demand and actual market conditions.

The signing of the Memorandum of Understanding will help Vietnam end the energy transition and ensure energy security. On the Lao side, this advantage helps them exploit and effectively promote their potential and advantages, contributing to socio-economic development.

The two ministers assigned the technical level of each side to complete internal procedures so that the Memorandum of Understanding could soon be effectively and substantively implemented.
 

In recent years, Laos has been an important supplier of coal, ores and minerals to Vietnam. Last year, Vietnam imported 1.8 million tons of ore and minerals from this country with a total turnover of 78.2 million USD. In the first six months of this year, Vietnam imported over 900,000 tons of ore and minerals from Laos, worth $31.6 million.

In addition to minerals, over the years, Vietnam and Laos have also implemented many investment and cooperation projects in energy, such as developing hydropower projects, connecting grids and importing electricity from Laos.

Currently, Vietnam has 220 kV lines linking with Laos, and the total capacity of importing electricity from this country by 2025 is at least 3,000 MW, and by 2030 is 5,000 MW, according to the commitment between the two governments. In the current period, the Prime Minister has approved the policy of importing electricity from projects and clusters of projects in Laos, with a total capacity of 2,689 MW.

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