VIENTIANE, Dec. 28 (Xinhua) -- The Lao government will review the effectiveness of approved mining projects due to the poor performance by nearly 70 of the more than 90 companies authorized to carry out pilot mining operations in the Southeast Asian country, local media reported on Thursday.
At the government's open meeting held here on Dec. 26-27, Lao Prime Minister Sonexay Siphandone instructed related departments to conduct a study on which minerals to be reserved and which mining projects to be suspended, a Vientiane Mai newspaper report said.
The meeting attended by the mayor of Vientiane, provincial governors and representatives of state agencies decided to take immediate actions to deal with ineffective mining projects that have caused great losses to the country.
Over the past two and a half years, the Lao government licensed more than 37,678 hectares of land for pilot mining operations. The pilot mining scheme was intended to find new revenue sources to help Laos tackle financial and economic challenges.
The Lao government stressed the need to expedite wind power and power transmission line projects to overcome energy shortages in some parts of the country.
During the meeting, the prime minister also urged actions to enforce the approved measures to stabilize exchange rates, skyrocketing inflation and high debt owed to foreign countries.
The meeting also called for efforts to improve the investment environment and boost the production of replaceable import items for domestic consumption and export. ■
