Vietnam, Laos sign iron ore mining contract

Worth US$29 million, the project sits on an area of 640ha with a 24-year land lease. It will be run in the Lao province of Xaysomboun and help raise revenue for Laos' state budget. Lao Deputy Minister of Planning and Investment Khamlien Phonsena said that the project will tighten cooperation between the two governments on the occasion of the Year of Laos-Vietnam, Vietnam-Laos Solidarity and Friendship 2017, the 40th anniversary of the signing of the Laos - Vietnam Treaty of Amity and Cooperation and the 55th anniversary of bilateral diplomatic ties. He also committed all possible support for the project.