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Businesses to invest US$3.5 billion in Laos
Real estate news By Vietnam Economic Times
18/10/2007
Vietnamese businesses will invest in 13 projects in Laos to the tune of US$3.5 billion. The announcement was made by General Director of the Bank for Investment and Development of Viet Nam (BIDV) Tran Bac Ha while he met with Lao Deputy Prime Minister and President of the Laos-Viet Nam Cooperation Sub-Committee Somsavat Lengsavad in Vientiane on October 13.
During the October 11-13 visit to Laos by a delegation of many Vietnamese businesses, the Viet Nam National Oil and Gas Group (PVN) signed with the Lao Planning and Investment Committee two memorandums of understanding on two projects worth US$1.7 billion. They were a project to explore oil and gas in Champassak and Salavan and another project to build a 1,400 MW hydro-power plant in Luang Prabang province.
According to the Ministry of Planning and Investment, Viet Nam ranks third among 30 investors in Laos after China and Thailand with 84 projects valued at US$500 million.
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