Posted on 18 Oct 2007
Vietnamese businesses to invest US$3.5 bln in Laos
Hanoi (ANTARA News/Asia Pulse) - Vietnamese businesses will invest in 13 projects in Laos to the tune of US$3.5 billion. The announcement was made by General Director of the Bank for Investment and Development of Vietnam (BIDV) Tran Bac Ha while he met with Lao Deputy Prime Minister and President of the Laos-Vietnam Cooperation Sub-Committee Somsavat Lengsavad in Vientiane on October 13.
During the October 11-13 visit to Laos by a delegation of Vietnamese businesses, the Vietnam National Oil and Gas Group (PVN) signed two memorandums of understanding on two projects worth US$1.7 billion.
One was for a project to explore oil and gas in Champassak and Salavan and the other a project to build a 1,400 megawatt hydro-power plant in Luang Prabang province.
