Laos, Vietnam sign agreement on rubber plantation investment in Borikhamsay

(KPL) Last week, the Lao government approved of the investment in the rubber tree plantation on 600 hectares in the central province of Borikhamsay by a private company of Vietnam.

Ha Tinh Rubber Company of Vietnam has entered into a joint venture with the Borikhamsay Youth Board in rubber tree plantation at the Lao-Vietnamese Friendship Youth village, Khamkeuth district, Borikhamsay province, according to a memorandum of understanding.

Under the MoU, the rubber tree plantation project will start in April 2010 and the Provincial Youth Board will get 30 per cent of profit.Ha Tinh Company will provide training for provincial youths, villagers and local people in plantation techniques, the harvest of latex and the maintenance of rubber trees.

They will also support the construction of the camps for Lao-Vietnamese youth families and local workers as well as personnel building on technical management.

The provincial youth board will be responsible for project documentation and they will take the first phase of planting rubber trees on 50-60 hectares, while waiting for the land clearance by the Ha Tinh Company. The land clearance is expected to be completed by 2011.

The Memorandum of Understanding was signed on 17 December, in the presence of Mr Khampha Phimmasone, Board Secretary of Youth Administration in Borikhamsay province, Mr Ngoc Son, Director of Ha Tinh Robber Company.

Source: KPL Lao News Agency
December 28, 2009