Vietnam prepared to aid Laos in State-Owned Enterprise reformation: Deputy Prime Minister
Vietnam and Laos Collaborate on State-Owned Enterprise Reforms
Vietnam and Laos are working closely together to modernize their State-Owned Enterprises (SOEs), with Vietnam offering to share its extensive experience in this area. The cooperation focuses on legal frameworks, management processes, capital mobilization, and investment management to enhance SOE efficiency and transparency.
The current status of this strategic cooperation was reaffirmed during a high-level meeting between Vietnamese leaders and Lao officials. The meeting, led by Deputy Prime Minister Hò Đức Phớc, saw both sides agreeing to maintain regular communication to facilitate continuous exchange of information and practical cooperation regarding SOE reforms.
Vietnam has implemented comprehensive SOE reforms involving portfolio streamlining, equitisation (partial privatization), state capital divestment, and institutional improvements to boost operational efficiency and combat corruption. These lessons are now being offered to Laos, as the latter seeks to build an independent, self-reliant economy through these reforms.
Looking forward, Vietnam’s SOE reform strategy aims for economic growth and increased enterprise competitiveness. For example, Vietnam targets having at least 30 SOEs with net revenue exceeding 1 billion USD each by 2030. While there is no public detailed roadmap specific to joint Vietnam-Laos SOE reforms, the continued dialogue and cooperation suggest future joint training programs, technological application assistance, and policy exchange to support Laos' reform goals.
Deputy Prime Minister Saleumxay Kommasith, who led the Lao delegation, emphasized the significance of the visit for learning from Vietnam's SOE reform experiences. He also pledged to create favorable conditions for Vietnamese enterprises investing and operating in Laos. Deputy PM Phớc, on the other hand, affirmed that such cooperation is strategically important for both countries, laying a firm foundation for macroeconomic stability and sustainable development.
Laos values Vietnam's insights in SOE reform, particularly amid deepening international integration. Vietnam is ready to share its full experience and support Laos in SOE reform, with Laos looking forward to Vietnam's continued support, specifically in training management personnel and applying information technology in enterprise governance and operations.
In summary, the ongoing strategic cooperation between Vietnam and Laos sees Vietnam ready to share its SOE reform expertise with Laos, including legal, managerial, and technological support. The future plans include continued bilateral communication and cooperation on SOE reform, with Laos aiming to build a self-reliant economy supported by Vietnam through training and IT application, and Vietnam pursuing ambitious SOE modernization targets that may influence bilateral initiatives.
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