LAOS-VIETNAM
Investment
July 23, 2007

Govt to facilitate Vietnamese construction investment
The Lao government agreed with Vietnam on July 20 to facilitate investment in a series of construction projects in Laos.

Vietnamese entrepreneurs will invest in the establishment of factories to produce construction equipment in Laos , as well as the construction of new towns, development of urban infrastructur and

hydropower dams. They will also actively bid for contracts in other construction projects.

This is part of the widespread cooperation agreement between Laos and Vietnam .

The memorandum of understanding regarding Laos-Vietnam construction cooperation was signed in Vientiane between the Lao Minister of Communication, Transport, Post and Construction, Mr Sommad Pholsena, and the Vietnamese Minister of Construction, Mr Nguyen Hong Quan.

The two sides agreed to cooperate on various town planning efforts. The Urban Planning Research Institute of Laos will work with its counterpart in Vietnam to discuss the details of future plans.

According to the memorandum, the Lao side asked Vietnam to assist in plans for construction in the Vientiane , the Laobao-Dansavanh border checkpoint, and urban planning projects in other townships.
The two governments agreed to coordinate their construction management systems and to exchange lessons learned and research on legislation on construction. They agreed to exchange visits by delegations from their respective ministries each year. Laos also requested help from Vietnam for construction inspections.

Vietnam agreed to provide training for administrative officials and students in Vietnam , and will send experts to Laos to enhance the skills of Lao officials.

The two sides agreed to establish collaboration units in the two ministries, to facilitate and strengthen cooperation in construction.

Mr Sommad also accepted an invitation from Mr Nguyen Hong Quan to visit Vietnam soon.

The signing of the memorandum followed an agreement on cooperation in economics, culture, science and technology signed in Hanoi , Vietnam , in January this year. The construction agreement is aimed at enhancing the continued relationship, special solidarity and comprehensive cooperation between Laos and Vietnam .

During Mr Nguyen Hong Quan's visit to Laos , he also had the opportunity to meet Prime Minister Bouasone Bouphavanh. Vientianne Times