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Monday, June 17, 2024

Laos and Thailand Must Further Promote Investment

This Week

Prime Minister Thongloun Sisoulith has called upon the business sectors in Laos and Thailand to promote further investment and cooperation.

The Prime Minister attended the 2017 Lao-Thai Business Forum in Vientiane yesterday, and made his announcement there. The event, which was attended by nearly 200 participants, was jointly organized by the Lao National Chamber of Industry of Commerce and the Thai Embassy to Laos.

The PM stressed that barriers must be overcome, while business mechanisms must be fast, timely, and transparent. He also said he would like to see investment proposals passed through a single window, with projects open to inspection.

He pointed out that Laos demonstrates investment potential in agriculture, as well as hydropower generation, and tourism.

The Lao government aims to continually improve the investment environment in Laos, which benefits from political stability and steady economic growth.

According to the President of the Lao National Chamber of Industry and Commerce, Mr Oudet Souvannavong, the business forum was an important means for promotion of trade and investment between Laos and Thailand.

The forum is a unique platform for Lao and Thai businesspeople to network, undertake business matching, and discuss trade and investment information, said Mr Oudet.

Laos and Thailand have had a historic tradition of cooperation, and Thailand remains the main trading partner of Laos, with trade and investment has increased over the last few years.

Major exports from Laos to Thailand include electricity, copper, tobacco, vegetables, and minerals. Laos, in turn, imports fuel, vehicles, electronic items and machinery from Thailand.

This year’s Lao-Thai Business Forum will include discussions in eight sectors, being agriculture, logistics, border trade, tourism, health, real estate, financial institutions, and natural resources.

Source: Vientiane Times

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