Xay Som Bun Community Development Fund (Laos) received additional support of 4.8 million USD

BAC NINH - Phu Bia Mining Limited Liability Company has just signed a Memorandum of Understanding with the government of Xay Som Bun province (Laos) on extending the Community Development Fund for another 5 years (2025 - 2029) with a total value of 4.8 million USD (about 117.6 billion VND).

Under the new agreement, Phu Bia Mining Limited's annual contribution to the Fund will increase from $380,000 to $750,000.

Signing ceremony of the Memorandum of Understanding between Phu Bia Mining Company Limited and Xay Som Bun Provincial Government on the extension of the Community Development Fund.

Together with the accumulated capital from previous years and the capital source in 2025, the total Fund currently reaches nearly 1.86 million USD, creating conditions for Xay Som Bun province to implement many large-scale projects, meeting the practical needs of the community and in line with the socio -economic development orientation of the province.

Since signing the Mineral Exploration and Exploitation Agreement with the Lao Government in 1994, Phu Bia Mining Company Limited has become one of the foreign enterprises making important contributions to the Lao economy.

The Phu Kham copper-gold mine and the Huay Xay gold-silver mine projects are operated according to international standards, bringing in more than 1 billion USD to the Lao national budget through taxes, royalties and other payments.

Ore mining in A Nu Vong district, Xay Som Bun province.

The Community Development Fund of Phu Bia Mining Limited Company, established in 2005 (maintained until 2023), has sponsored 460 projects in 26 villages, in 7 districts in the provinces of Xay Som Bun, Bo Ri Kham Xay and Vientiane, with a total investment of 5.8 million USD.

The projects focus on key areas such as: Infrastructure (construction of roads, bridges, schools, medical centers); health and education (equipment support, service quality improvement); clean water and environmental sanitation; livelihoods and household economic development...

The extension and enhancement of the Community Development Fund has been contributing to supporting the government and people of Xay Som Bun province to promote sustainable development.

Thu Phong

Source: https://baobacninhtv.vn/quy-phat-trien-cong-dong-xay-som-bun-lao-duoc-ho-tro-them-4-8-trieu-usd-postid427195.bbg