Because the cost of transporting logistics goods between Vietnam and Laos is still high, affecting export turnover between the two countries. Technology application and digital transformation in the logistics field will promote economic and trade cooperation between Vietnam and Laos.
Scene of the working session between the delegation of the Ministry of Industry and Trade of Laos and representatives of FSI Company.
Photo: FSI/TTXVN broadcast
VNA – Within the framework of bilateral cooperation between Vietnam and Laos, on April 24, in Hanoi, Lao Minister of Industry and Trade Malaithong Kommasith led a delegation to visit and work at the Investment Joint Stock Company. trade and FSI Technology Development (FSI). The goal is to find Make in Vietnam technology solutions to support the digital transformation process in the field of logistics to promote economic and trade cooperation between the two countries.
At the meeting, Mr. Doan Huy Thuan, General Director of FSI, introduced to the delegation the data-based digital transformation solutions that FSI has researched, developed and continuously perfected in recent times.
Currently, FSI’s product and solution ecosystem with more than 50 products includes 4 main areas: Connecting sources and creating data; Data storage, big data mining and processing; Applying data results to operations helps customers improve operational efficiency through decision-making based on reliable data. In particular, the company has digital solutions in the logistics field with many outstanding advantages.
“This will be an advanced and modern technology solution, contributing to bringing many advantages in trade activities between Vietnam and Laos in the direction of building a smart border gate model and promoting oriented agricultural production. export”, Mr. Doan Huy Thuan said.
On the land border between Vietnam and Laos, which is more than 2,330 km long, there are a total of 33 pairs of border gates in operation, including 9 pairs of international border gates, 6 pairs of main border gates and 18 pairs of secondary border gates. The geographical connection and long-standing friendly relationship are the basis for promoting trade development between the two countries.
According to data from the General Department of Customs, Vietnam-Laos trade turnover in 2022 will reach 1.65 billion USD, an increase of 24.1% compared to 2021. Border trade activities play a key role in cooperation. Bilateral trade accounts for 90% of the total trade value of Vietnam – Laos. However, the two countries’ trade turnover currently only accounts for about 10% of Laos’ total import and export of goods with the world and 0.2% of Vietnam’s trade with the world.
One of the reasons identified is that the cost of transporting logistics goods between Vietnam and Laos is still high compared to competitors. Due to long transportation distances, low traffic infrastructure, and many transportation routes located on mountainous terrain, it has reduced the competitiveness of Vietnamese goods exported to Laos. Reducing logistics costs is a prerequisite to improve the competitiveness of Vietnamese goods in the Lao market.
To solve this problem, in the Vietnam – Laos Trade Agreement signed on April 8, 2024, the two countries agreed to share the same view on strengthening the application of information technology in customs procedures, Collect customs statistics. This is an effective solution to solve the above problem, helping to shorten procedure time, reduce costs for businesses, and improve transparency.
Lao Minister of Industry and Trade Malaithong Kommasith acknowledged that FSI’s proposed solutions are an inevitable trend, consistent with the development of the times, helping to support trade between the two countries smoothly. The goal of digital transformation is one of Laos’ key topics when assuming the 2024 ASEAN Chairmanship.
The delegation of the Ministry of Industry and Trade of Laos and representatives of FSi Company took souvenir photos
Photo: FSI/TTXVN broadcast
The application of information technology to simplify and transparent customs procedures requires close coordination between the authorities of Vietnam and Laos. Currently, Vietnamese technology enterprises not only provide solutions and implementation consulting but also always accompany authorities in choosing appropriate information technology solutions and solving problems during the process. system operation and maintenance./.
