Vietnamese President pays goodwill visit to Laos

VIENTIANE.10.02.2012 (KPL) -Vietnamese President Truong Tan Sang, his spouse and delegation arrived in Vientiane Capital yesterday to pay a three-day goodwill visit to Laos to enhance the existing special solidarity and integrated cooperation between two countries. Vietnamese President Truong Tan Sang, his spouse and delegation was welcomed by President Choummaly Sayasone and line Party leaders and government held at the Presidential Office. The visit was made in response to the invitation of President Choummaly. At the cordial talk, President Choummaly highly valued the visit to Laos and expressed appreciation to Mr. Nguyen Tan Dung for visiting Laos-the first country after has been elected as new President of Vietnam. Mr. Nguyen Tan Dung expressed his whole heartedly thanks to Mr. Choummaly for his warmly welcome. Both sides have frankly exchanged the current socio-economic development conditions. During the visit, both sides have signed three cooperation agreements of human resources development assistance for Laos, US$50 million loan to Laos and potash prospecting and processing. The first agreement on human resources development for 2012 was signed between Lao Minister of Education and Sports, Dr Phankham Viphavanh and his Vietnamese counterpart Mr. Pham Vu Luan. The second one US$50 million loan of Vietnam Joint Stock Commercial Bank for Industry and Trade (Vietin Bank) was inked by Governor of the Bank of the Lao PDR, Mr Somphao Faysith and President of the Executive Board of Vietin Bank, Mr Pham Huy Hung. The last one on potash prospecting and processing in Nongbok village, Thakhek district, Khammouane province was noted between Lao Deputy Minister of Investment and Planning, Mr Bounthavy Sisouphanthong and General Director of Chemical Group of Vietnam, Mr Nguyen Dinh Khang. In addition, the Association of Vietnamese Investors in Laos granted US$500,000 to support Laos for arrangement of the 9th ASEM. Vietnamese Investment and Development Bank granted US$1.1 million for construction of a school in Don village of Savannakhet province. Chemical Group of Vietnam also provided US$5.6 million to help the social welfare in Laos. The grant aid mentioned above was handed over by the President of Executive Board of Vietnamese Investment and Development Bank, Mr Tran Bac Ha to Laos via Minister of Finance, Mr Phounphet Khamphounvong. At the same day, President of Vietnam Mr Truong Tan Sang and his delegation also called on Prime Minister Thongsing Thammavong, President of Lao National Assembly, Mrs Pany Yathortou, President of Laos-Vietnam Friendship Association, Dr Phankham Viphavanh and President of Lao Front for National Construction, Dr Phandouangchit Vongsa respectively. Mr Truong Tan Sang and his delegation attended the inauguration ceremony of Vietin Bank in Laos and a ground breaking ceremony of construction of the Vietnamese Association Office in Laos.