Laos is taking strides towards enhancing its digital infrastructure with a recent visit led by Minister of Industry and Commerce Malaithong Kommasith to FSI Investment and Trading Technology Development JSC (FSI). The aim? To explore innovative Make in Vietnam technology solutions that could revolutionize the logistics sector in Laos and bolster economic cooperation between the two nations.

During the visit, FSI General Director Doan Huy Thuan showcased the company's extensive digital ecosystem, featuring over 50 products tailored for the logistics industry. With Vietnam and Laos sharing a significant border spanning over 2,330km, border trade plays a pivotal role in their economic relations, constituting up to 90% of their total trade value.

Despite this, bilateral trade turnover remains modest, largely due to the high cost of logistics compared to other countries. However, a recent bilateral trade agreement signed in April 2024 signals a promising shift. Both nations have committed to leveraging information technology in customs procedures and data collection, offering a pathway to streamline processes, reduce costs, and enhance transparency in trade relations.

In adopting Make in Vietnam technology solutions, Laos seeks to overcome logistical challenges and foster a more robust economic partnership with Vietnam, paving the way for mutual growth and prosperity.