A road in the Lao province of Houaphanh will be built with the Bank for Investment and Development of Vietnam (BIDV)’s loan in a bid to promote trade activities and socio-economic development in the locality.

A contract to this effect was signed in Vientiane on December 27, with Lao Minister of Public Works and Transport Bounchanh Sinthavong and Vietnamese Deputy Minister of Transport Le Dinh Tho in attendance.

The road will stretch as far as 67km from Houaphanh’s Xam Tay district to Tha Lau in the border area between Vietnam and Laos.

Once completed, the road will connect Houaphanh as well as northern provinces of Laos with Vietnam’s road system, facilitating travel and trade activities of the two countries’ businesses and people.

On the occasion, BIDV announced to consider funding for the implementation of a road from the Lao districts of Xam Tay to Thong Thu. The 30km road has an investment of 26.84 million USD.-VNA