Vietnam, Laos promote energy and mineral cooperation

10:27 | 02/05/2018 Industry

(VEN) - On April 4 in Hanoi, Vietnamese Minister of Industry and Trade Tran Tuan Anh and Lao Minister of Energy and Mines Khammany Inthilath agreed on further measures to promote bilateral energy and mineral cooperation.

vietnam laos promote energy and mineral cooperation
April 4 Hanoi-based talk between Vietnamese Minister of Industry and Trade Tran Tuan Anh and Lao Minister of Energy and Mines Khammany Inthilath

Representatives from the two ministries reviewed and evaluated bilateral energy and mineral cooperation, and agreed on plans to further enhance the relationship, including a plan to implement energy cooperation signed by the two sides at the 40th session of the intergovernmental committee on bilateral cooperation between Vietnam and Laos.

At the meeting, the two ministers agreed in principle on the main contents of an amendment to the 2006 energy and mineral cooperation agreement to be submitted to the two governments for early approval. In addition, the two sides agreed to continue supporting the Vietnam National Chemical Group (VINACHEM) in implementation of the potassium salt project, and promote an early launch of the My Ly-Nam Mo 1 hydroelectric project.

Vietnam and Laos have recorded many industry and energy cooperation achievements. These include - Completion of negotiations and signature of a Vietnam-Laos memorandum of understanding on cooperation in development of hydropower projects in Laos; - Connection of the two countries’ electricity transmission and distribution networks; - Speeding up negotiations on development of bonded warehouses and oil pipelines from Hon La Port in Vietnam to Khammouan in Laos, and the Vietnam-Laos agreement on the My Ly-Nam Mo 1 hydropower plant project; - Supporting enterprises in speeding up the research and construction of a 500KV power transmission line for electricity import to Vietnam.

Laos has many advantages and potential for energy development. Laos has planned to produce 10,000MW of electricity from various sources (water, wind, coal and solar power) by 2020, 75 percent of which is expected to be exported to Thailand, Vietnam, Singapore and Malaysia.

Vietnamese Minister of Industry and Trade Tran Tuan Anh said Vietnam exported energy at one time and has now become an energy importer. Imported energy is expected to satisfy about 37.5 and 58.5 percent of Vietnam’s energy needs by 2025 and 2035, respectively, he said.

The Vietnamese Ministry of Industry and Trade and the Lao Ministry of Energy and Mines will continue working closely to contribute to the two countries’ development and prosperity.

Nhat Quang & Nguyen Huong