A delegation of Lao-Americans met with the Lao Overseas Affairs Department and the Lao National Chamber of Commerce and Industry (LNCCI) yesterday to discuss investment in Laos.
Led by Lao-American businesswoman Supha Xayprasith-Mays, the delegation arrived in Laos to promote exchanges between the Lao diaspora in the United States and businesspeople in Laos.
Ms. Supha Xayprasith-Mays holds a senior position with Walmart, an American multinational retail corporation known for its chain of hypermarkets and grocery stores.
She met with Mr. Oudet Souvannavong, President of the LNCCI, to exchange ideas and discuss the potential for investment in Laos by American businesses.
Prominent Lao-American, Mr. Viengxay Wilaikul, President of Wilaikul International Gold Mine Co. Ltd, was also present at the meeting.
Ms. Supha Xayprasith-Mays declared her candidacy for governor in her state of Arkansas, United States, in April last year.
Increased Investment from United States
The United States has invested more than USD 280 million in Laos through activities including construction, mining, financial and other services.
In the first six months of 2021, the value of trade between Laos and the United States reached USD 157.4 million, including USD 29.9 million in exports and USD 127.5 million in imports.
Products exported from Laos to the United States include bedding, cushions, lamps, footwear, clothing, pearls, gems, sports equipment, tobacco, electronics, and unprocessed coffee.
Meanwhile, Laos imports machinery and other products from the United States, as well as wood pulp, electrical equipment, food industry waste, vehicles and auto parts, mechanical equipment, iron and steel products, optical equipment, and plastics.
