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President Bounnhang To Attend 2nd BRF In Beijing

(KPL) President Bounnhang Vorachit and over 30 other heads of state and government will attend the three-day Belt and Road Forum on International Cooperation to be held in Beijing, China on Apr 25-27.

The government and state leaders will be also joined by thousands of representatives from 150 countries around the world.

The China-proposed Belt and Road Initiative is not geopolitical tool or a debt trap for participating countries, but a platform for cooperation, Chinese Foreign Minister Wang Yi was quoted as saying by China Daily.

The initiative has delivered real benefits for participating countries. The debt trap label cannot be applied to the Belt and Road, and no participating country would agree with that designation, said Mr Wang.

Lao-Chinese Railway Construction Project under Belt and Road Initiative is turning landlocked Laos into a land-link nation.

Lao and Chinese authorities on Mar 21 celebrated the completion of one of the 10 longest tunnels of the Laos-China Railway Construction Project in northern Luang Namtha province.

The 6,453.5 metre-long tunnel is among 10 for the project whose length exceeds 5,000 metres each.

The project forms main component of the bilateral cooperation between the Lao and Chinese governments. Within a five-year construction period (2016-2021) the railway project will invest a total budget of over 5 billion USD, 70 per cent of which comes from Chinese investors and the rest from the Lao side.

Mr Khamsouk Bounnhavong, Chairman of a committee in charge of inspection for the Lao side of the Laos-China China railway construction project disclosed that this completion constitutes an important step to further make Lao people confident that the construction of the Laos-China Railway will be completed on time according to the plan.

Over 60% of the construction work of the project has been conducted since late 2016.

Chinese contractors recently assured Prime Minister Thongloun Sisoulith that they would accelerate the construction work to make the project completed on time as a gift for the Lao PDR on the occasion of its 46th founding anniversary in 2021.

The Laos-China railway will run from Kunming in southwestern China through Laos, Thailand, and Malaysia to Singapore.

It is a key component of China’s signature global infrastructure plan.

China ranks number one largest investor in Laos as Chinese companies are injecting billions of dollars into Special Economic Zones, hydropower and agricultural investment projects.

Minister of Public Works and Transport Bounchanh Sinthavong has recently said the development of the railway is of great significance in implementing the resolution of the 10th National Congress of the Lao People’s Revolutionary Party (LPRP) and in boosting Lao socio-economy.

The project will help expand and promote Laos-China cooperation in economy, trade, investment and tourism among others, as well as further strengthen economic ties in China-ASEAN free trade area, said the minister.

“Once completed, the railway will benefit Lao people of all ethnic groups, facilitate and reduce costs of transportation, stimulate the development of agricultural and industrial sectors, tourism, investment and trade, as well as generate incomes for Lao people and the country,” he added.

The Lao and Chinese leaders have recently said that Laos and China not only share similar ideals and beliefs, and similar paths of development, but they also enjoy a shared future and destiny.

The two sides continue to closely coordinate with one another to further deepen the comprehensive bilateral strategic partnership of cooperation featuring mutual trust, mutual support and mutual benefits.

Source: Lao News Agency

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