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Wednesday, June 19, 2024

EuroCham Laos Organizes Its Annual General Assembly, Hosts Laos-Europe Business Networking Event With EU Delegation

This Week

The European Chamber of Commerce and Industry in Laos (or ECCIL EuroCham Laos) gathered all its members at this year’s Annual General Meeting on 23 May to discuss the future of the Chamber.

During the event, Thiane Khamvongsa, Executive Director of the European Chamber of Commerce and Industry in Laos, and Ina Marciulionyte, Ambassador of the European Union in Laos, invited the representatives of a hundred companies to celebrate friendship tie and close collaboration between the Lao and European business communities.

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Khamvongsa, who presented the activity reports and results for 2023 and outlined the Chamber’s strategy, budget, and action plan for 2024-2025, also announced that this was her third and last mandate as Executive Director of  EuroCham Laos. “The Chamber has gone through an important restructuring, in the past 3 years, in its effort to become financially self-sustainable and member-centric. Today, it is thriving, with more than 120 members – the highest number we’ve ever had in the history of the Chamber – the reviving of sectorial advocacy working groups, and organizing more than 40 events per year, making us indeed the largest and most influential foreign chamber in Lao PDR”

Recently nominated as President of EuroCham Laos, Mette Boatman thanked the outgoing President and Executive Director, for their hard work getting the Chamber on the right course and to where it is today. She encouraged all members to participate actively in Chamber activities in the coming years. “The Chamber exists only because of its members and for its members. Together we are strong”.

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The event also introduced the “European Union Investment Mapping in Lao PDR”, which provides an overview of EU investments in the country and shows that European companies operate in 16 sectors, from finance to manufacturing and tourism, and have an annual turnover of over EUR 1 billion, pay around EUR 235 million in corporate tax yearly, and support about 9,000 jobs locally.

In her opening remarks, Ambassador Marciulionyte shared with the audience that “this initiative forms part of the EU Global Gateway agenda of connecting further to our partner countries through trusted and sustainable quality investment and trade that works for the planet and for the people. European companies are not here just to do business; they are truly committed to making a positive impact on the socio-economic development of the country”.

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The European Union and EuroCham Laos have been close partners for more than 12 years, since the inception of the Chamber. Both have been working hand in hand, promoting Laos as an investment destination for the European business community, and remaining steadfast in advocating for trade facilitation, market access, sustainable development, and addressing the most critical interests and concerns of European businesses operating in Laos.

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