MMG receives Foreign Investment License for Laos

19 Jul 2010 12:00 AMMedia Release

On July 13, a Handover Ceremony of the Foreign Investment License for MMG in Laos was held in Beijing.

Mr Sinlavong Khoutphaytoune, Lao Minister of Planning and Investment presented the license to Mr Mark Liu, Executive Director of MMG. MMG Chairman and President of China Minmetals Mr Zhou Zhongshu, Senior Vice President Mr Li Fuli and political councilor Mr Long Dingbin of the Chinese Embassy in Laos witnessed the ceremony along with General Manager Mr Jiao Jian of China Minmetals Non-Ferrous Metals Co., Ltd.

President Zhou explained the role that MMG Sepon plays in Laos. In 2009, the total of various taxes and dividends submitted to the Lao Government by MMG amounted to USD $80.5 million. MMG Sepon employs over 4,000 local staff and plays a significant role in the national economy of Laos.

President Zhou said that the handover of the foreign investment license was representative of the strength of the relationship between China and Laos and how it should continue into the future.
Mr Sinlavong Khoutphaytoune, Lao Minister of Planning and Investment commented that the Lao Government would promote its trade and economic ties with China Minmetals.

Mr Sykhoun Bounvilay, the General Secretary of Laos-China Friendship Association, Mr Keo Mackaphonh, the Secretary General of Laos-China Friendship Association, entrepreneur representatives of Laos, as well as Mr Ma Jun, Director of the General Office of the Corporation, Mr Xing Bo, General Manager of Human Resources Department, Mr Xu Zhongfen, General Manager of Planning & Development Department, Mr Xue Fei, general manager of Investment Banking Department and Mr You Yong, General Manager of Law Department participated in the Handover Ceremony.

Mr Sinlavong Khoutphaytoune presents the license to Mr Mark Liu.