Jiarun Agricultural Development Co., Ltd. a chinese company and the Lao Ministry of Planning & Investment have signed a Memorandum of Understanding (MoU) on the feasibility study for a forest restoration and ecological agriculture development project in southern Laos.

Xie Fei, Chairman of the Chinese company and Khamchanh Vongsaenboun, Lao Deputy Minister of Planning & Investment, signed the MoU on Wednesday with the attendance of representatives from both sides.

According to the MoU, the company will conduct the feasibility study for the forest restoration and ecological agriculture development project in 5,000 hectares of land in Sanamxay district of Attapeu province, some 560 km southeast of Lao capital Vientiane.

Xie said that the project will create over 50,000 local jobs, which will effectively promote the local economy and the living standards of local people.

“The company will cooperate with the Lao side, with combined advantages and mutual benefits,” Xie told Xinhua on Thursday, adding that his company has arranged budget to donate 20 schools and 20 clinics or medical centers to the local community in the coming five years.

The Chinese businessman said the Lao project is the first that his company has engaged in upon the call of Belt & Road Initiative. “Thus, we will try best to accomplish it with high quality and satisfaction among the local communities,” Xie said.