A high-level delegation from Hong Kong, visited Vientiane from 28-30 July and signed 12 agreements with their Lao trading partners across various sectors.
The visit, led by John Lee, Chief Executive of the Hong Kong Special Administrative Region (HKSAR) and organized by the Hong Kong Trade Development Council (HKTDC), aimed to enhance bilateral relations in trade and investment, finance, fintech, transport, logistics, and education. These agreements aim to foster mutual support between Hong Kong, Laos, and the ASEAN region.
The delegation comprised around 30 leaders from international, Mainland Chinese, and Hong Kong enterprises. During their visit they explored key sites such as the Vientiane Saysettha Development Zone and Vientiane Railway Station to assess business and investment opportunities in the country. A cultural visit to Vientiane Secondary School further strengthened people-to-people ties between the regions.
The delegates also met with executives and members of local business chambers to introduce Hong Kong’s latest economic developments and business opportunities. Discussions focused on potential partnerships to support Lao SMEs in several areas, including finance, renewable energy, agriculture, and forestry.
Peter K N Lam, Chairman of the HKTDC, emphasized the mission’s goal of fostering stronger cooperation and enabling Laos to achieve its economic ambitions.
“Leveraging its superconnector role, Hong Kong is well-positioned to provide assistance, nurture talent and strengthen infrastructure across various sectors in Laos. We believe there are immense opportunities for mutual growth. The cooperation we have witnessed during this visit is just the beginning,” Lam said.
The delegation from Hong Kong and the Lao government signed a total of twelve memoranda of understanding (MoUs), specifically, the Customs and Excise Department of Hong Kong signed an MoU with the Lao Customs Department, while Invest Hong Kong partnered with the Lao National Chamber of Commerce and Industry. Other significant agreements included those between the HKTDC and the Lao Chinese Chamber of Commerce, as well as the Lao Ministry of Industry and Commerce. Furthermore, agreements were made between various private sector entities, such as CCB International (Holdings) Limited and Phongsavanh Group Co., Ltd., and educational institutions, including the Hong Kong Polytechnic University and Vientiane Secondary School.
The visit also aligned with regional cooperation efforts like the Belt and Road Initiative and the Regional Comprehensive Economic Partnership. The upcoming Belt and Road Summit in Hong Kong on 11-12 September aims to offer more opportunities for Lao companies to cooperate with their Hong Kong partners.
Lao Deputy Prime Minister Saleumxay Kommasith urged Hong Kong investors to explore opportunities in Laos, emphasizing potential growth in tourism and investment. The visit ended with a strong commitment to advancing economic and cultural relations between Laos and Hong Kong.
