Vietnam permanent government members discuss cooperation projects with Laos

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Prime Minister Nguyen Xuan Phuc (Photo: VNA)

The government leader requested ministries and localities to strengthen coordination with Lao counterparts.

The meeting focused on assessing the progress and results of the implementation of cooperation projects with Laos in the fields of electricity and hydropower, transport connection, seaport, and airport, as well as speeding up the construction of the Lao National Assembly House.

Participants also discussed measures to remove difficulties for businesses and promote bilateral trade in the context of jointly fighting against the COVID-19 pandemic, the VNS reported.

Previously, Vietnam and Laos signed a cooperation agreement ondeveloping energy and mining projects in February 2019 after two years ofnegotiations. The sides also signed electricity trading contracts andestablished the Luangprabang energy limited company to continue implementingtheir Luang Prabang hydropower project, providing favourable conditions for theimprovement of Laos’ grid capacity and the operation of Vietnamese-fundedelectricity projects in Laos to sell power for the Vietnamese market.

The Electricity of Vietnam (EVN) and Phongsubthavy Group of Laos on January 4, 2020 also signed power purchase agreements (PPA) for the 69MW Nam San 3A and 45MW Nam San 3B hydropower plant projects in Hanoi.

The signing ceremony was witnessed by the Vietnamese Prime Minister Nguyen Xuan Phuc and the Laos PDR’s Prime Minister Thongloun Sisoulith. (Photo: VNS)

Statistics show that bilateral two-way trade in the first five months of 2019 hit nearly US$493 million, up 13.4% year-on-year.

Vietnam remains the third largest investor in Laos with 410 projects worth US$4.22 billion and Vietnamese companies have significantly contributed to socio-economic development of the neighbouring country.

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