Speaking at the signing ceremony in Vientiane on November 29, Deputy Minister of Planning and Investment Khamlien Phonsena said the project will help develop the economy in Salavan and generate jobs for local people and eliminate poverty.
The signing has a significant meaning in celebration of Laos-Vietnam Year of Friendship and Solidarity 2017, he said.
He proposed Quang Tri Rubber Company prioritise using local workers while abiding by the host country’s legal regulations on environmental protection to realise the Lao Government’s plan to develop a green and sustainable economy.
The Lao Ministry of Planning and Investment pledged to work with Salavan authorities and ministries to create favourable conditions for the Vietnamese company to run the project, he added.
Director General of Quang Tri Rubber Company Van Luu promised to ensure the progress of the project, create jobs for local residents and to strictly follow the law on environmental protection.
The project will be carried out on 500 hectares with total investment of nearly US$10 million. The land lease lasts 30 years, though it could be extended. Once operational, the project is expected to create jobs for nearly 600 Lao workers.