Vietnam to build hydro power plants in north Laos

Vietnam will build three hydro power plants in Nam Et river, northern Laos ’ Huaphan province with a combined capacity of 420 MW.

A memorandum of understanding to this effect was signed between Laos Deputy Minister of Planning and Investment Thoongmy Phomvisay and Director of EVN International Joint Stock Company Nguyen Thanh Huan in Vientiane on Dec. 31.

Earlier, EVN invested in a 1,400 MW hydro power plant in Luang Prabang.

Source: VNA

Read full post...

Vietnam, Cambodia agree to boost agricultural cooperation

A senior Cambodian legislator has urged Vietnam to increase its flow of investments into agriculture in his country.

The Chairman of the Cambodian National Assembly’s Foreign Affairs and International Cooperation Commission, Chheang Vun, made the call while meeting with Vietnamese Ambassador to Cambodia Nguyen Chien Thang on Dec. 25.

Chheang Vun said Cambodia boasts large and fertile farmland acreages which are favourable conditions for investment in agriculture.

The move will benefit both nations as it will help Cambodia learn Vietnam ’s agricultural production experiences and improve the local people’s living conditions, while Vietnam will be able to increase its farm produce output for export, he said.

According to the lawmaker, Cambodia annually exports more than 200 million USD worth of products to Vietnam and imports goods totalling some 1 billion USD from the country.

Ambassador Thang pledged to ask his government to consider Cambodia’s suggestion, saying that boosting investment in Cambodia is one of Vietnam ’s priorities in order to beef up the bilateral relations.

The ambassador said Vietnamese companies are planning to grow rubber trees on an additional 30,000 ha in Cambodia in addition to over 30,000 ha already planted in Kracheh province.

He also emphasised the importance of cooperation for mutual development in the triangle region shared by Vietnam, Cambodia and Laos.

Vietnam hopes that Cambodia will host a meeting between leaders from the triangle region’s 10 provinces next year to introduce the potentials for development in this area, the diplomat added.

Resource: Vietnam

Read full post...

Cambodia, Laos, VN opens Summit on Development Triangle Area

The 5th Cambodia-Laos-Việt Nam Summit on Development Triangle (DT) Area was started this morning in Vientiane, Laos.

Right after the opening speech made by Lao PM Bouasone Bouphavanh, the Vietnamese and Cambodian PMs also delivered their respective addresses, confirming the traditional friendship and productive cooperation among the three countries during the past years.

To speed up economic growth and narrow development gap in the region, the cooperation among the three countries has facilitated socio-economic development in each country, particularly in the Mekong Sub-region, stimulating the growth of other sub-regions.

Speaking at the opening ceremony, PM Nguyễn Tấn Dũng expressed his strong belief that the 5th Summit will work out the orientation for sustainable development of the DT area in the time to come.

PM Dũng also informed his Cambodian and Lao counterparts about Việt Nam’s recent socio-economic successes.

In the after noon of the same day, PM Dũng came to visit the Việt Nam-Laos Joint-venture Bank. The Vietnamese leader reminded the bank to pay adequate attention to the vital issues like trust, capital and human resource development.

The PM praised for the good performance of the bank and said that it will take an important role in enhancing and consolidating the traditional friendship and comprehensive cooperation between Việt Nam and Laos.

Resource: VNGOP

Read full post...

Vietnam to explore iron ore in Laos

Vietnam ’s Company of Economic Cooperation (COECCO) and Lao Government’s representative on December 25 signed a contract of surveying and exploring iron ore in Laos .

Attending the signing ceremony were Lao Deputy Prime Minister-cum-Defence Minister Phonthay Douangchai Phichit and Minister of Planning and Investment Thoongmy Phomvisay.

For Vietnamese side, there were representatives of Vietnamese embassy, Vietnam trade office in Laos , COECCO and some Vietnamese companies operating in Laos .

Under the agreement, COECCO will have 48 months to explore, survey and formulate a feasibility study report on the 44 sq.km area in Vientiane province with an initial capital of 3 million USD.

The company will submit the report to the Lao government for further negotiations.

Source: VNA

Read full post...

Golf developer invests 1 bln USD in Laos

The Lao Ministry of Planning and Investment signed an agreement with Vietnam-based company Long Thanh on Dec 26, permitting it to invest one billion USD in a recreation development project in Laos .

The project, which includes a golf course, a five-star hotel and luxury villas, will cover 557 hectares in the Lao capital of Vientiane, with a business period of 50 years and another 25 years at the investor’s discretion.
The ministry handed the project’s licence to the company’s representative at the signing ceremony, which was attended by several officials from the two countries.

Long Thanh Golf Investment and Trading Joint Stock Co., operates in the golf and hotel industries with a golf club and several golf courses in southern Vietnam.

Source: VNA

Read full post...

Vietnamese paper mill makes debut in Laos

An inaugurating ceremony of a paper and pulp production factory was held in Huaphanh province in Laos on December 24 with the participation of representatives from the provincial authorities and the Vietnamese embassy in Laos.

The US$2 million mill, the first of its kind in Laos, has an annual capacity of 36,000 tonnes of pulp. It is expected to generate jobs for 300 Lao and 60 Vietnamese labourers and pay around US$2 million tax each year to the province.

This is the second project funded by Bac Ninh-based Long Van private company, after a joint venture to process agro-forestry products for export in Lao province of Sam Nua in December 2000.

Source: VNA

Read full post...

Vietnam leads foreign investors in Laos

Vietnam is now the largest foreign investor in Laos , according to a recent survey conducted by the Overseas Investment Department under the Ministry of Planning and Investment.

The department’s statistics showed that in the first 11 months of this year, Vietnamese businesses invested in 52 projects with a total registered capital of 450 million USD in Laos , raising the total number of Vietnam ’s projects in the neighbouring country to 146, capitalised at 1.5 billion USD.
The hydropower sector drew the largest share of Vietnamese investment with 54.7 percent of the total registered capital. It was followed by industrial trees planting with 29 percent and mineral exploration with 8 percent.

Vietnam is now the largest foreign investor in Laos , according to a recent survey conducted by the Overseas Investment Department under the Ministry of Planning and Investment.

The department’s statistics showed that in the first 11 months of this year, Vietnamese businesses invested in 52 projects with a total registered capital of 450 million USD in Laos , raising the total number of Vietnam ’s projects in the neighbouring country to 146, capitalised at 1.5 billion USD.
The hydropower sector drew the largest share of Vietnamese investment with 54.7 percent of the total registered capital. It was followed by industrial trees planting with 29 percent and mineral exploration with 8 percent.

Source: VNA

Read full post...