Viet Nam and Laos sign an ore exploration contract in Laos

Mr. Nguyen Xuan Phuc, Member of the Politburo, Deputy Prime Minister and Chairman of Viet Nam – Laos cooperation subcommittee and Mr. Xomxavat Lenhxavat, Member of the Politburo, Deputy Prime Minister and Chairman of  Laos – Viet Nam cooperation subcommittee both attended a ceremony to sign an ore exploration contract in Xiengkhuang and Huaphanh provinces (Laos) between Laos DPR and Chien Cong Minerals & Industry JSC under Thai Nguyen-based Chien Cong Industry and Transportation Cooperative in Luang Prabang, Laos on August 12. Participants also include representatives of ministries, industries, local administration and enterprises of both countries including several businesses in Thai Nguyen.

As per with the contract, Chien Cong Minerals & Industry JSC would implement Tin, Lead and Zinc Exploration Project within an area of 300km2 in Xiengkhuang and Huaphanh. The Project aims at exploring then constructing a processing plant whose products would be used for development of Laos and exported to some countries. Chien Cong Minerals & Industry JSC, which was previously issued a certificate on investment in Laos by Ministry of Planning & Investment of Viet Nam, founded 100% Chien Cong Minerals and Industry JSC invested Laos Industry JSC for a direct implementation for the Project. The first phase of the Project will have been implemented for 5 years.

The Project obtaining achievements means a great deal to Laos’ social economy. The signing ceremony is one of key activities on the occasion of the 50th anniversary of the establishment of diplomatic relations between Viet Nam and Laos (05/9/1962 - 05/9/2012), enhancing unity, friendship and cooperation between the Parties and States as well as peoples of Viet Nam and Laos. It opens further opportunities in investment between enterprises of both countries in general, also of Thai Nguyen (Viet Nam) and Xiengkhuang and Huaphanh (Laos) in particular.