Vietnam’s Company of Economic Cooperation (COECCO) and the Lao Government’s representative have signed a contract of surveying and exploring iron ore in Laos on December 25.
Attending the signing ceremony were Lao Deputy Prime Minister-cum-Defence Minister Phonthay Douangchai Phichit and Minister of Planning and Investment Thoongmy Phomvisay.
On the Vietnamese side were representatives of the Vietnamese embassy, the Vietnam trade office in Laos, COECCO and some Vietnamese companies operating in Laos.
Under the agreement, COECCO will have 48 months to explore, survey and conduct a feasibility study into the 44 sq.km area in Vientiane province with an initial capital of US$3 million.
The company will submit the report to the Lao government for consideration.