US$22m rubber investment slated for Laos

Information from Binh Dinh provincial People’s Committee said two local companies of the province will likely receive licenses to invest in Laos with investment capital of US$22 million in total, said a provincial official.
Binh Dinh Pharmaceutical and Medical Equipment Co (Bidiphar) has required prime minister’s consent to plant and process rubber in Laos, according to Binh Dinh Investment Promotion Centre.
The government has requested the Ministry of Planning and Investment (MPI) to appraise this project and award the license to the Binh Dinh-based company. It will cooperate with Laos’ CBF Pharma Co., Ltd of Champasak province to carry out the project at a cost of US$10 million (of which 80% comes from the Vietnamese partner) in the two southern provinces of Champasak and Sekong.
Earlier, these two companies had already a joint venture in Laos with total investment capital of US$2 million.
Apart from Bidiphar’s project, the MPI is now processing the project dossier of Binh Dinh Industry Agriculture Trading Co., Ltd (Bidina) to invest in Sekong province with total capital of US$12 million for the first phase. The company plans to build a rubber latex processing factory in Sekong province.
These two projects invested by Binh Dinh companies are part of the cooperation programme between Binh Dinh Province and southern provinces of Laos, according to the centre.
According to the MPI, Vietnam now has 51 projects, capitalised at almost US$365 million in Laos.

 

Category: Business