Vientiane (VNA) – Laos and Vietnam have reached a deal to build a wood processing plant in Laos’s southern province of Champasak, said local authorities.

Around 51 percent of the project’s investment or 4 million USD will be provided by Vietnam’s Savimex Company, with the Lao side contributing the remainder.

The plant is expected to produce 1.5 million USD worth of wood products in its first operational year, Director of the province’s Finance Department Nalong said, adding that around 95 percent of its products will be exported.

Source: Vietnam News Agency