Thailand
Laos, Vietnam sign 12 deals to broaden cooperation
Laos and Vietnam yesterday signed 12 cooperation agreements to enhance relations and broaden cooperation between the two neighbours at their Cooperation Committee meeting in Vientiane.
Prime Minister Thongloun Sisoulith and his visiting Vietnamese counterpart Nguyen Xuan Phuc co-chaired the 40th meeting of the Laos-Vietnam Cooperation Committee held at the Prime Minister’s Office.
Mr Thongloun told a press conference shortly after the meeting that Laos and Vietnam would continue to enhance their cooperation in a wide range of fields.
The documents signed included an agreement to jointly develop the Vung Ang port – a cooperation project in Vietnam’s central Ha Tinh province which will enable land-locked Laos to access sea trade routes.
A Memorandum of Understanding (MOU) was also signed in which Vietnam intends to purchase energy generated by a coal-fired power plant in Bualapha district, Khammuan province.
An MOU to sell electricity generated by various hydropower plants in Laos to Vietnam was also signed. These include the Xekong 3A and 3B projects in Xekong province.
An MOU on investment in a 500-1,000 kV transmission line connecting northern Laos to southern Vietnam was also signed. Once it is operational, the transmission line will facilitate the export of power to Vietnam.
Both sides also signed an MOU for cooperation in the construction of a hydropower project in Luang Prabang province.
The cooperation plan between the Lao and Vietnamese governments for 2018 and the minutes of the 40th meeting of the Laos-Vietnam Cooperation Committee were also signed.
A Memorandum of Understanding on energy and mining cooperation for 2018 was also signed.
Addressing the press conference, Prime Minister Thongloun said “We [Laos and Vietnam] will continue to cooperate in politics, national defence and security, and foreign affairs.”
“And we will continue to promote trade in order to increase two-way trade by 10 percent in 2018 compared to 2017.”
Trade between Laos and Vietnam topped US$900 million in 2017, a year-on-year increase of more than 10 percent. The two countries have set a trade target of US$4 billion by 2020.
A number of Vietnamese enterprises are operating businesses in Laos, making Vietnam one of the top three largest foreign investors in Laos. So far, Vietnamese enterprises have sunk US$3.7 billion into projects in Laos.
Prime Minister Thongloun pledged that every assistance would be given to Vietnamese enterprises to ensure their projects proceeded smoothly.
The Vietnamese side would continue to provide assistance with human resource development for Laos including staff training, he added.
The Vietnamese government has provided 1,266 scholarships for Lao students and officials this year. Mr Thongloun said he highly valued the successful outcomes of the meeting and expressed hope that these would be implemented with great success. He also spoke highly of the achievements gained through cooperation projects between Laos and Vietnam over past years.
Source: http://www.vientianetimes.org.la/FreeContent/FreeConten_Laos31.php