China becomes the top investor in Laos
China becomes the top investor in Laos
Chinese Ambassador to Laos Mr Guan Huabing told members of the press on Friday that this year China has become the top investor in Laos, as well as the second biggest importing market partner and forth largest export market in Laos.
Ambassador Guan Huabing said at a press conference in Vientiane last week that in the first six months of 2014 the total imports from Laos to China reached US$1,044 billion, increasing from last year by over 150 percent.
Meanwhile Chinese exports to Laos reached US$1,253 billion, increasing from last year over by 134 percent, while the total contract value of contractor projects in Laos was US$1.18 billion.
“The six monthly figures named China as the top investor in Laos,” he said. “Cooperation on economic trade between nine provinces in the northern part of Laos and Yunnan province of China grew continuously.”
He added that all the expo events being arranged in China serve as stages for the effectiveness of the economic and trade cooperation between both nations.
During the press conference, the Chinese ambassador briefed the press on the relationship between Laos and China on the occasion of the celebration of the 65th anniversary of the People's Republic of China on October 1, 1949-2014, know n as the China National Day.
The ambassador also reported on politics, socio-economic growth, investment, foreign relations and other matters as well as explaining the targets of the Chinese Party and government and all the Chinese people, in particular Laos and China.
“The relationship between Laos and China has been developing over the 53 years since the establishment of diplomatic relations. Both nations support each other in every sector in each period, developing together to become neighbouring countries,” Mr Huabing explained.
He added that this year he followed President Choummaly Sayasone and Prime Minister Thongsing Thammavong to visit his homeland and heard from both the leaders of the Lao PDR and China on increasing the relationship between the two countries in the future.
At the end of the press conference, the ambassador also explained the process of the Lao-China railway project, reiterating that the Chinese side would fully support the project being built in the future.
“Both sides have researched clearly on many issues regarding the project and the involved sectors from Laos and China are also working closely for construction,” Mr Huabing explained.
The diplomat mentioned at the end of the press conference that they would be a bridge to increase cooperation and the relationship between Laos and China in the future.
vientiane times
