Vietnam - Laos cooperation has made great strides with bauxite and hydropower projects, contributing to promoting sustainable development and strengthening bilateral relations.
From January 9-10, at the invitation of Prime Minister of the Lao People's Democratic Republic Sonexay Siphandone, Prime Minister Pham Minh Chinh and the Vietnamese high-ranking delegation visited the Lao People's Democratic Republic and co-chaired the 47th meeting of the Vietnam-Laos Intergovernmental Committee.
Promoting cooperation connection from mining and energy
On this occasion, on the afternoon of January 9, the two Prime Ministers co-chaired the Vietnam - Laos Investment Cooperation Conference. Also attending the Conference were Minister of Planning and Investment Nguyen Chi Dung, Chairman of the Vietnam - Laos Cooperation Committee; Minister of Planning and Investment, Chairman of the Laos - Vietnam Cooperation Committee Phet Phomphiphak, Minister of Industry and Trade Nguyen Hong Dien and many other Ministers, leaders of ministries, sectors, localities and enterprises of the two countries.
Speaking about the assessment of the Vietnam - Laos investment cooperation situation and orientation for 2025, Vietnamese Minister of Planning and Investment Nguyen Chi Dung - Chairman of the Vietnam - Laos Cooperation Committee - said that the Conference was organized by the Vietnamese Ministry of Planning and Investment in coordination with the Lao Ministry of Planning and Investment with the theme "Promoting sustainable development and prosperity together".
This is an important event for us to summarize and evaluate the results of investment cooperation in 2024 and discuss solutions to implement the 2025 Cooperation Plan that was just approved by the two governments this morning.
Speaking at the Conference, Ms. Phuong Minh Hue, Chairwoman of the Board of Directors and General Director of Viet Phuong Investment Group Joint Stock Company, gave a speech sharing her vision on implementing the Bauxite Mining and Processing Complex Project in Laos, affirming her strong commitment to the goal of sustainable development and strengthening the Vietnam - Laos cooperative relationship.
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| Ms. Phuong Minh Hue, Chairwoman of the Board of Directors and General Director of Viet Phuong Investment Group Joint Stock Company, spoke at the Conference. Photo: Nguyen Minh |
Ms. Phuong Minh Hue said that among the investment activities of Viet Phuong Group in Laos, the most notable are the project to build the headquarters of the Vientiane Capital Government and the project to exploit and process Bauxite to produce Alumina and develop energy sources in Laos.
Accordingly, in 2024, thanks to the close, timely and effective direction of the leaders of the two governments and especially the two Prime Ministers, Viet Phuong's Bauxite and energy projects have made remarkable changes: For the Bauxite mining and processing project, the entire Appendix to the adjusted contract for the capacity of 1 million tons/year of Alumina production was completed; the purchase of 100% of the shares of Lao San-xay Company from Rio-o-tin-to Company (Australia) was completed for future development. At the same time, contract adjustments were made to increase production capacity, in line with international market demand and Laos' development strategy in the mining industry.
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| Minister of Industry and Trade Nguyen Hong Dien and many Ministers, Leaders of Ministries, sectors, localities and enterprises of the two countries attended the conference. Photo: Nguyen Minh |
In the energy sector, Viet Phuong Group is also implementing five hydropower projects in Ka-lum District, Sekong Province, with a total capacity of 180 MW. This is an important step in exploiting Laos' abundant water resources, contributing to ensuring energy security not only for this country but also expanding electricity exports to neighboring countries.
Hydropower projects are expected to generate stable revenue for Laos through electricity trade cooperation. The development of renewable energy infrastructure also creates a foundation for other industries, contributing to promoting sustainable economic growth.
Committed to social responsibility, promoting sustainable cooperation
Speaking at the conference, the Chairman of Viet Phuong Group also affirmed that he is always aware that completing the legal procedures of these projects is an important step to have enough legal basis for implementing these projects, but it is only the starting point of the project implementation process. There are still many tasks to be done, from EPC bidding, EPC bidding evaluation, capital mobilization, contractor selection, factory construction implementation, labor recruitment and training... and commercial operation of the projects.
These are tasks that require Viet Phuong to make great efforts and we also hope that the Government leaders, ministries, departments, branches and local authorities of the two countries will continue to accompany the company to turn the development potential of Laos into a development resource; realizing the benefits from the projects for the Lao Government and Viet Phuong Group.
For its part, Viet Phuong Group is committed to accelerating implementation and minimizing the time so that by the second quarter of 2028, the Alumina Plant will be put into commercial operation and by the second quarter of 2029, the hydropower projects will generate commercial electricity. These are important goals, affirming the group's determination to realize Laos' development potential. Along with that, completing legal procedures and the project preparation phase is just the beginning. The following tasks, including EPC bidding, bid evaluation, capital mobilization, contractor selection, factory construction, labor recruitment and training, are all major challenges that require the group's continuous efforts.
In parallel with the investment cooperation process, on December 27, 2024, after nearly a year of construction, Viet Phuong Group inaugurated and handed over the Dakchung District Sports Complex, Sekong Province, with a total value of more than 1 million USD. This is a key project, welcoming the success of the Dakchung District Party Congress and moving towards the Sekong Provincial Party Congress. The project not only meets the cultural and sports needs of local people but also becomes a symbol of effective cooperation between Vietnam and Laos. The leaders of Sekong Province, the Vietnamese Embassy in Laos and relevant agencies highly appreciated the contributions of Viet Phuong Group, and recognized them through many certificates of merit and letters of commendation from the Prime Minister and ministries, departments and branches in Laos.
Ms. Phuong Minh Hue emphasized: "In addition to business investment, Viet Phuong Group focuses on social responsibility activities, considering this the foundation for building sustainable relationships in the locality."
The Chairman of Viet Phuong Group also affirmed that the group will always aim to convert Laos' rich natural potential into effective economic development resources. By applying advanced technology and strictly adhering to international standards, the group is committed to continuously improving the added value of investment projects.
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| Overview of the Vietnam - Laos Investment Cooperation Conference. Photo: Nguyen Minh |
In the coming time, to ensure the highest efficiency of the projects, the representative of Viet Phuong Group suggested that there should be close coordination between enterprises and the governments of the two countries. Large projects such as bauxite and hydropower require support from the government in licensing, approving and reviewing contract terms. This is an important foundation to ensure the progress and transparency of the project.
Regarding capital mobilization support, projects with a scale of hundreds of millions of USD need large capital from many different sources, including international loans. Ensuring appropriate financial mechanisms is an important factor for projects to be implemented on schedule. At the same time, to meet the human resource needs of projects, there must be specialized training programs, improving on-site labor skills and ensuring social security policies for workers.
The Vietnam - Laos Investment Cooperation Conference has created an important premise for the two countries to promote their economic cooperation potential, expand their strategic partnership, and affirm that the friendly relationship between Vietnam and Laos will continue to develop strongly.
Minister of Industry and Trade Nguyen Hong Dien accompanied Prime Minister Pham Minh Chinh to visit the Lao People's Democratic Republic and co-chaired the 47th meeting of the Vietnam - Laos Intergovernmental Committee from January 9-10 at the invitation of Prime Minister of the Lao People's Democratic Republic Sonexay Siphandone. Accompanying Minister Nguyen Hong Dien were leaders of functional Departments and Offices in the Ministry of Industry and Trade such as: Department of Asia - Africa Market, Inter-sectoral Steering Committee for International Economic Integration, Ministry Office, Industry and Trade Newspaper... In 2024, the trade turnover between Vietnam and Laos is estimated to reach 2.2 billion USD, an increase of nearly 34% compared to 2023. This is the first time that the bilateral trade turnover of the two countries has exceeded the 2 billion USD mark, far exceeding the target previously set by the two governments, a clear demonstration of the tireless efforts of the governments, authorities and businesses of both countries. |
Source: https://congthuong.vn/chu-cich-tap-doan-viet-phuong-hop-tac-nang-luong-thuc-day-kinh-te-lao-phat-trien-ben-vung-368802.html
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