Vietnam invests in Laos over 2 billion USD

According to the Lao Ministry of Planning and Investment, up to June, 2009, Vietnam has 186 projects directly invested in Laos with the total registered capital of 2.08 billion USD, among which 161 projects were developed. In the first half of 2009, Vietnamese businesses registered investment of 17 new projects with the total registered capital of 87.9 million USD.

The Vietnam’s projects focus on mining, hydropower, industrial tree planting, of which there are 27 projects of industrial tree, rubber tree planting, with the total registered capital of 501 million USD, accounting for 17% of Vietnam’s total investment capital in Laos. The mining projects (including survey and exploration) reach the total investment capital of 222.3 million USD.

As for hydropower, Vietnam has 30 projects with the total capacity of 4,726 MW, among which 3 projects with the total capacity of 650 MW have been developed - Xekaman III commenced in April, 2006 (250 MW, investment capital of 273 million USD); Xekaman I (290 MW, investment capital of 441.6 million USD and Nam Mo (110 MW, investment capital of 142 million USD). In addition, Vietnam remains 22 projects which were signed Memorandum of Understanding (MOU) with the total capacity of 3,742 MW, among which Luang Phrabang Hydropower Project alone has its capacity of 1,414 MW.

According to Mr.Somvang Ninthavong, who is the Economic and Commercial Counsellor of Lao Embassy in Vietnam, said that the Lao Government and relevant agencies would create favourable conditions for Vietnamese businesses to carry out survey, exploration and investment promotion. Vietnam’s investment in Laos has been assessed as effective and to create production integration between the two countries.