Leaders attend the 7th Mekong-Lancang Cooperation Foreign Ministers’ Meeting in Myanmar.

68 projects implemented in Laos through LMC fund

Laos has received more than US$18 million from the Lancang-Mekong Cooperation (LMC) Special Fund to carry out 68 projects, according to the Ministry of Foreign Affairs.
At the 7th Mekong-Lancang Cooperation (MLC) Foreign Ministers’ Meeting held in Bagan, Myanmar, recently, leaders from Laos, Cambodia, Myanmar, Thailand and Vietnam thanked China for having provided US$300 million to the special fund since 2017.
So far, over 600 projects have been carried out with support from the LMC Special Fund worth more than US$80 million.
Initiated by the Chinese government during the first LMC Leaders’ meeting in China’s Hainan province in March 2016, the LMC Special Fund has made a significant contribution to the socio-economic development of the Mekong sub-region.
The LMC Special Fund aims to support small and medium-sized cooperation projects put forward by the six LMC countries of Laos, Vietnam, China, Myanmar, Thailand and Cambodia.
Deputy Prime Minister and Minister of Foreign Affairs, Mr Saleumxay Kommasith, led a Lao delegation to attend the meeting which took place under the theme “Solidarity for peace and prosperity”.
The 7th MLC Foreign Ministers’ Meeting adopted four joint statements on strengthening agricultural cooperation, disaster prevention, customs and trade facilitation, and exchanges between MLC civilisations.
Mr Saleumxay spoke highly of growing cooperation over the past six years under the Mekong-Lancang Cooperation framework.
China has contributed considerably to the development of the Mekong sub-region, including Laos.
As a result of the MLC’s positive contributions to cooperation and development in the region, two-way trade between China and the Mekong nations in 2021 climbed to almost US$400 billion, up 23 percent compared to 2020.
Mr Saleumxay outlined the success of key infrastructure cooperation projects between Laos and China including the Vientiane-Vangvieng expressway and the Laos-China railway, which came into service last year.
The Deputy PM called for MLC member countries to broaden their cooperation in economic recovery and the use of modern technology in border trade, high-quality commercial production and the enhancement of agricultural productivity to ensure food security.
During the 7th MLC Foreign Ministers’ Meeting, Mr Saleumxay held bilateral talks with his counterparts from Vietnam, Cambodia, China and Thailand to discuss how to further strengthen cooperation in areas relating to trade, investment, people-to-people exchanges, and economic recovery from the Covid-19 pandemic, all at a time when the world is facing an energy crisis and other economic woes.
Mr Saleumxay and his Vietnamese counterpart Bùi Thanh Sơn discussed energy and economic cooperation as well as arrangements  to mark Laos-Vietnam Year of Friendship and Solidarity 2022.
The Deputy PM also met his Chinese counterpart Wang Yi to discuss issues surrounding regional cooperation through the use of the Laos-China railway.
They also exchanged agreements on support for the construction of a vocational training school and five secondary schools in Laos.

By Times Reporters
 (Latest Update July 6, 2022)