Laos’ Deputy Minister of Foreign Affairs Maythong Thammavongsa shakes hands with the Chinese Ambassador to Laos Fang Hong after signing an agreement on Tuesday. - Photo: VNS
VIENTIANE: Laos and China have signed a new cooperation agreement under the 2025 Lancang-Mekong Cooperation (LMC) Special Fund, with Laos securing funding for 10 development projects worth a total of US$2,823,600.
The agreement was signed on Tuesday (July 15) at the Ministry of Foreign Affairs in Vientiane by Deputy Minister of Foreign Affairs Maythong Thammavongsa and the Chinese Ambassador to Laos, Fang Hong.
The 10 projects cover a range of priority development areas including human resource development, agriculture, water resources, public health, and poverty eradication, the Lao Ministry of Foreign Affairs said in a press release.
These initiatives will be implemented at both the central and local levels, aiming to boost socio-economic growth, strengthen institutional capacity, and improve the well-being of targeted communities in line with LMC’s framework.
The LMC promotes peace, shared prosperity, and sustainable development in the Mekong countries comprising Laos, Cambodia, Myanmar, Thailand, Vietnam, and China.
LMC Special Fund, established by China in 2016 and implemented from 2017, serves as a key financial instrument to translate the cooperation vision into practical outcomes.
Since its inception, Laos has received 90 projects worth over US$23 million through the Fund, with implementation yielding concrete and measurable results.
During the agreement signing ceremony, Lao and Chinese officials expressed confidence that the new batch of 2025 projects will continue to enhance socio-economic development across the Mekong subregion.
They also affirmed their commitment to strengthening ties within the Lancang-Mekong Cooperation framework, which plays a vital role in addressing regional challenges and advancing broader goals such as the Asean Community Vision, the Belt and Road Initiative (BRI), South-South Cooperation, and the United Nations 2030 Sustainable Development Goals.
The Ministry of Foreign Affairs reaffirmed its appreciation for China’s continued support and partnership, highlighting the importance of the Lancang-Mekong Cooperation Special Fund as a platform for practical, inclusive, and mutually beneficial cooperation. - Vientiane Times/ANN
