(MPI) - Vietnamese Prime Minister Pham Minh Chinh and Lao Prime Minister witnessed the signing and exchange of investment certificates and cooperation agreements between several agencies and businesses of the two countries, while attending an investment cooperation conference in Vientiane on January 9.

Minister of Planning and Investment Nguyen Chi Dung grants investment certificates and agreements to enterprises. Photo: VGP

Accordingly, the Vietnamese side presented investment certificates to SDVIC Wind Power JSC with Savan 1 wind power plant project, Vietnam Dairy Products JSC (Vinamilk) with a dairy farm complex in Laos, and Military Commercial Joint Stock Bank (MB Bank) with MB Bank Laos project.

Meanwhile, the Lao side granted a contract addendum to Viet Phuong Investment Group’s bauxite mining and aluminum processing plant project in Laos, a contract for Viet Phuong Group to develop five small hydropower projects in Ka Lum district, Sekong province, a contract for the Savan 1 wind power plant, and a construction license to the Vietnam National Chemical Group’s potassium salt mining and processing project.

In addition, Sovico Group and Transport Engineering Design Inc. handed over a consulting contract to survey and develop a planning of the airport system in Laos until 2030, with a vision toward 2050, to Lao Ministry of Public Works and Transport.

Vietnam Airlines and Lao Airlines also exchanged a memorandum of understanding to enhance and expand their cooperation. Savan 1 and MB Bank exchanged an agreement on for resource allocation of the Savan 1 wind power plant; and an agreement to arrange funding for the Savan 1 wind power plant and Xekong thermal power plant.

Moreover, the Lao Department of Livestock and Fisheries and the Vietnam-Laos Agricultural Group Joint Stock Company signed a cooperation agreement; and a cooperation agreement to train a workforce was also inked between the Institute for Human Resource Development and International Cooperation (IHC), the Vietnam Business Association in Laos (AVILA) and the Young Entrepreneur Association of Laos (YEAL).

Following the conference, a framework for currency payments and bilateral retail payment connectivity via QR code technology between Vietnam and Laos was announced. This initiative demonstrated an effective collaboration between the two nations’ agencies, enterprises and the banking sector that in line with the two leaders’ direction and the cooperation trend in the ASEAN region./.

Bao Linh

Ministry of Planning and Investment