Leaders of the Lao and Vietnamese governments and business representatives gathered in Lao capital Vientiane for the Laos-Vietnam Investment Cooperation Conference 2025 to strengthen ties between the two nations, Lao national TV reported on Tuesday.

The event was attended by Lao Prime Minister Sonexay Siphandone and Vietnamese Prime Minister Pham Minh Chinh.

The Lao government prioritizes trade and investment as key components of its national development strategy to promote economic growth, increase state revenue, and drive socioeconomic progress, the report said.

Trade between Laos and Vietnam reached 1.94 billion U.S. dollars in the first 11 months of 2024, marking a 32.8 percent increase compared to the same period in 2023, it said.

The two sides urged all sectors to enhance cooperation in order to increase trade and investment, it added.