Laos is interested in Russian investments in its economy, in particular, in hydroelectricity, tourism, and information and communication technology, Lao Ambassador to Russia Shiviengphet Phetvorasack told Sputnik in an interview
MOSCOW (Pakistan Point News / Sputnik - 02nd October, 2020) Laos is interested in Russian investments in its economy, in particular, in hydroelectricity, tourism, and information and communication technology, Lao Ambassador to Russia Shiviengphet Phetvorasack told Sputnik in an interview.
"Laos would like to attract Russian investments in hydroelectricity, tourism, information and communication technology, mining, minerals and agriculture," Phetvorasack said.
The diplomat noted that Laos and Russia had developed investment cooperation, with the Sekong power station project being one of the examples of such a collaboration.
"In my opinion, both sides are interested in expanding cooperation in energy," the diplomat added, noting, however, that no new hydroelectricity projects had been discussed yet.
In 2016, Russia's Inter RAO Engineering and Laos' A-RKSYENS and Electricite du Laos - Generation Public company signed a memorandum on the construction of the 330MWT Sekong-5 hydropower plant that will reportedly cost $800 million. The construction was expected to last for five years. According to the contract, the plant will be equipped with Russian technology, including turbines.
