Vietnam Pours US$1.28 Billion into Investment in Laos recently, reported Vietnam News. Vietnam currently ranks third among 30 foreign investors in Laos with 117 projects capitalised at US$1.28 billion.
Vietnamese investors capital commitment to projects in Laos have increased rapidly, from US$55 million in 2006 to US$600 million in 2007. In 2008 in the first seven months, Vietnamese businesses already pledged US$240 million in investment in Laos.
During the two countries Minister Meeting in October, Minister Soulivong said the Laos Government encourages Vietnamese investors to invest in energy and mining; while the Lao Ministry of Planning and Investment is ready to aid those who want to do business in Laos.
Laos and Vietnam also plan to build a cross-border power transmission line so Laos can sell hydro-electricity power to Vietnam. The Asian Development Bank said to Vietnam News that it would work with Japan to help develop a loan program for the $US240 million project. It would include an initial $1 million grant from the Japan Special Fund. The 165-kilometre power line will link the Ban Sok substation in southeastern Laos with Pleiku in Vietnam's Central Highlands.
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