Vietnam, Laos address 3 key economic challenges in new era

On Monday, the Vietnamese Ministry of Foreign Affairs, in coordination with its Lao counterpart and Fulbright University Vietnam, inaugurated the 2026 Lao Executive Leadership Program (LELP) at the Fulbright campus in Ho Chi Minh City.

The program serves as a senior-level forum for Lao policymakers, administrators, and business leaders to share experience and strengthen governance capacity, with the delegation led by Deputy Foreign Minister Maythong Thammavongsa.

Investing in future of Vietnam-Laos ties

In her opening remarks, Vietnamese Deputy Minister of Foreign Affairs Nguyen Minh Hang described the program as the culmination of years of exchanges on economic diplomacy between the foreign ministries of Vietnam and Laos.

She noted the program comes at a pivotal moment, as both countries have recently concluded their respective Party Congresses and are pressing ahead with the implementation of new development strategies.

The program covers foundational issues such as institutional reform and the transformation of growth models, as well as more specialized areas including building state capacity for the digital economy, industrialization pathways, and mobilizing resources for infrastructure investment.

"Vietnam has always valued strengthening cooperation and sharing governance and high-quality human resource development experience with Laos. We firmly believe that investing in people, in knowledge, and in policymaking capacity is investing in the sustainable future of the Vietnam-Laos friendship," Hang said.

Lao Deputy Foreign Minister Maythong Thammavongsa said Vientiane attaches great importance to the program, as reflected in the composition of the delegation -- more than 20 senior officials drawn from seven central-level agencies and three provinces with active economic ties with Vietnam.

“I am confident this is an auspicious beginning, as the program coincides with Laos entering the early stages of implementing its 10th National Socio-Economic Development Plan," Maythong said.

“All delegates can draw lessons from this program and apply them effectively to the implementation of the 10th plan."

Speaking on behalf of the Ho Chi Minh City leadership, standing vice-chairman of the municipal People's Committee Nguyen Loc Ha said LELP underscores the city's active role as Vietnam's leading economic, financial, and innovation hub -- one that stands ready to serve as a bridge for cooperation with Lao localities.

Quality must keep pace with speed

Also in her opening address, Deputy Minister Hang outlined three key challenges facing both Laos and Vietnam in the current economic landscape.

First is the question of building a self-reliant economy while pursuing deep and comprehensive international integration.

The challenge, she said, is not merely to integrate, but to do so in a way that strengthens domestic economic resilience, and crucially, to convert external resources into endogenous capacity.

Second is the need to maintain macroeconomic stability, particularly as both economies are highly open and exposed to an increasingly volatile global environment.

The task is to shore up macroeconomic foundations, bolster resilience against external shocks, and press ahead with institutional and administrative reforms to enhance competitiveness.

Third is the imperative to transform growth models, refine institutional frameworks, and elevate the quality of state governance.

These are factors she described as decisive for development in the period ahead.

Hang placed particular emphasis on the principle that the speed of growth must go hand in hand with its quality.