Laos and Vietnam last Friday signed a joint-venture agreement in Vientiane to establish the Vung Ang Lao-Viet Seaport Joint Stock Company. The agreement was based on a 2001 bilateral agreement made between the government of Vietnam and Laos to use the Vung Ang seaport in Ha Tinh province, Vietnam, as a common cargo port for both countries. The new company was created by restricting the Ha Tinh Seaport Joint Stock Company, under the guidance of the two parties and governments of Laos and Vietnam. The formation of the company was supervised by the Lao Ministry of Public Works and Transport and Vietnam’s Ministry of Transportation. The signing ceremony took place on the first day of the Lao New Year, immediately following a visit to Laos by the Secretary General of the Vietnam Communist Party, Nong Duc Manh. This is an auspicious sign as the New Year gets underway and the relationship between Laos and Vietnam strengthens.
Source: Vientiane Times
