The ceremony of in-orbit delivery of Lao's first satellite cooperated with China was held in Laos' capital Vientiane on Wednesday night.

Speaking at the ceremony, Lao Minister of Post, Telecommunication and Communication Hiem Phommachanh said that the in-orbit delivery of Laos' first satellite was a milestone in cooperation between Laos and China in field of space technology. At present, all technical tests of the satellite have been successfully completed and the satellite is ready to provide services.

Lao government, especially Ministry of Post, Telecommunication and Communication will create favorable conditions for the operator in terms of policies and international cooperation, Phommachanh said.

Once being put into operation, the satellite is expected to bring new income for Laos, contributing to socio-development of the country, Phommachanh added.

Vice President of China Aerospace Science and Technology Corporation Yang Baohua said the satellite project is of great significance as it was the first export project of China's satellite to an ASEAN country, marking a solid step in space technology cooperation between China and Laos.

The satellite, which is a major project in implementing the "Belt and Road" initiative proposed by China, will promote the image of Laos, driving the development of Laos' hi-tech industries as well as economy and culture, Yang said.

After the ceremony, Yang and Phommachanh inaugurated the Lao Asia Pacific Satellite Company Ltd., a joint venture between China and Laos which is in charge of commercial operation of the satellite.

The Lao Asia Pacific Satellite Company Ltd. will provide satellite communications, satellite television broadcast, wireless broadband and other services for Laos and other neighboring countries.

On Nov. 21, 2015, Laos' first ever satellite was launched into the space from Xichang satellite launch center in China.

related report
China Spacesat profits rise 7.62 pct in 2015
Beijing, March 12 (Xinhua) - China Spacesat Co., Ltd., the nation's key developer of small satellites, reported a 7.62-percent rise in net profits last year.

Its net profits totaled 383 million yuan (59 million U.S. dollars) last year, according to a latest report released on the website of the Shanghai Stock Exchange.

The company's sales revenue reached 5.45 billion yuan in 2015, up 16.82 percent from the previous year. Earnings per share were 0.32 yuan.

Founded in 1997, China Spacesat is a listed company held by the state-owned China Aerospace Science and Technology Corporation.

Source: Xinhua News Agency