Vietnam Ready to Share State-Owned Enterprise Reform Experience with Laos

HANOI: Vietnamese Prime Minister Pham Minh Chinh has reaffirmed Vietnam’s readiness to share its experience in reforming and restructuring state-owned enterprises (SOEs) with Laos, including lessons on legal frameworks, management processes, and capital mobilization strategies.

The prime minister conveyed this during a meeting with a delegation from the Lao People’s Revolutionary Party (LPRP) Central Committee’s Commission for SOE Reform, led by Politburo member, Deputy Prime Minister, and head of the commission, Saleumxay Kommasith, in Hanoi on Wednesday.

Chinh commended the strong and enduring cooperation between Vietnam and Laos across various sectors, particularly in SOE reform, describing it as a strategically important area for sustainable economic growth and a key driver of the two nations’ long-standing friendship, special solidarity, and comprehensive cooperation.

He outlined Vietnam’s SOE reform achievements, which include streamlining enterprise portfolios, advancing equitization and divestment of state capital, and refining institutional and policy frameworks to strengthen operational efficiency.

“Vietnam always considers SOEs as a key pillar of the national economy while ensuring reforms that enhance transparency, compliance with market mechanisms, and measures to prevent corruption and inefficiency,” Chinh said.

He also highlighted Vietnam’s focus on modern corporate governance, empowering SOEs, embracing digital transformation, fostering innovation, and optimizing human resources to boost competitiveness. Chinh proposed the establishment of a regular exchange mechanism between the two countries’ relevant agencies, adding that practical insights from Vietnamese state corporations and economic groups would provide Laos with useful and adaptable experiences.

Deputy PM Saleumxay praised Vietnam’s reform journey, describing its SOE management models as “valuable lessons.” He stressed that Laos, in its pursuit of an independent and self-reliant economy, looks forward to closer cooperation with Vietnam in SOE management, development, and governance innovation to build an efficient and sustainable economy.