Vietnam invests over US$815 million in hydropower, mining in Lao province
Vietnam has invested over US$815 million in hydropower and mining projects in Laos’s Attapeu province, the Vientiane Times reported on June 9.
Director of the provincial Energy and Mines Department Vithaya Phommachanh said that US$691 million was invested in several power projects, including Xekaman 1, Xekaman Sanxay, Xekong Loum A and Xekong Loum B hydropower plants, which are expected to be completed in 2025.
The power projects also include a thermal, a solar and a biomass power plants, along with some transmission lines.
The remaining US$30.8 million was invested in a transformer station. Meanwhile, US$93.3 million was poured in the mining sector.
The Vientiane Times also reported that Vietnam is currently running 417 projects worth US$4.3 billion in Laos, ranking third among 54 nations and territories pouring capital into the country.
Last year, the Lao Government allowed Vietnamese businesses to invest in three projects, including two in the mining sector and one in the banking sector.
Two-way trade hit US$1.37 billion in 2021, up 33.32% year-on-year.