Lao Deputy Minister of Planning and Investment Sisou Phanthong (right) and Director of Long Vân Company Pham Ngọc Long (left) at the contract-signing ceremony. — Photo VNA

HA NOI (Biz Hub) — Viet Nam and Laos signed a contract on April 28 to allow a Vietnamese company to survey and tap coal in Xam Nuea city, Houaphan Province, in Laos.

The contract was signed between the Lao government and Long Van Company of Viet Nam.

Attending the event were Lao Deputy Minister of Planning and Investment Sisou Phanthong, head of the Ministry of Natural Resources and Environment's Department of Geology and Mineral Resources Khampha Phommakaysone and Envoy at the Vietnamese Embassy in Laos Hoang Xuan Hai.

Following an initial survey of 600ha out of a total of 15,000ha, the Long Van Company has found a reserve of nearly 60 million tonnes of coal in Xam Neua.

Speaking at the signing ceremony, Director of Long Van Company Pham Ngoc Long pledged to ensure the project's efficiency in tandem with environment protection, and to generate more local jobs, which will contribute to furthering the traditional friendship and comprehensive co-operation between Viet Nam and Laos. — VNS