On 4 July, Sounthone Xayachack, Vice President of the National Assembly, together with a delegation of 105 members from the 10th National Assembly legislature, visited the Lao-International Precious Metals Refinery (LIPMER) to observe and follow up on the facility’s operations.
The delegation was welcomed by Alounkeo Kittikhoun, Chairman of the Strategy and Planning Committee of PTL Holding Co., Ltd., together with the management teams of LIPMER, Lao Bullion Bank (LBB), and PTL Holding Co., Ltd.
Alounkeo Kittikhoun presented an overview and the strategic vision behind the establishment of LIPMER, stating that the refinery represents an important step in implementing the Party and Government’s policy of building and developing the ecosystem of Laos’s gold industry to international standards. He noted that this initiative aims to elevate the country’s mineral industry — particularly gold, an abundant natural resource with significant untapped potential — to fully realize its added value, contributing to the nation’s socio-economic development in line with the Party Central Committee’s Political Bureau direction to lead the country and its economy toward becoming an increasingly self-reliant and independent economy.
Following this, Pariya Nuanthasing, Managing Director of LIPMER, reported to the Vice President of the National Assembly on the facility’s operations, summarizing the project’s progress and the range of services it provides. He noted that the refinery is committed to raising its operational standards in line with the international standards of the London Bullion Market Association (LBMA), through the application of advanced technological innovations, including quality-control laboratories and modern, highly accurate automated machinery and equipment, ensuring clean production that avoids environmental damage and is environmentally friendly.
He emphasized that adherence to LBMA standards not only certifies the purity and quality of precious metals but also fosters global market trust, sharpening the international competitive edge of Lao products, and circulating in the global gold market — a key factor for economic growth, currency stability, and strengthening the country’s national gold reserves.
In addition, Souphaphone Souannavong, Deputy CEO of LBB, reported on the bank’s operational performance and development direction, with a focus on raising product and service standards in line with international benchmarks, enhancing transparency and trustworthiness, and developing gold-related financial innovations to promote the Lao gold market and elevate the country’s gold industry toward greater integration with international gold markets.
Concurrently, the Vice President of the National Assembly and members of the National Assembly actively engaged in constructive discussions, raising technical queries and delivering key policy guidance to the refinery and relevant sectors to continue improving efficiency in implementation, management, and monitoring, in order to ensure that the project proceeds transparently and in accordance with laws and regulations.
The Vice President of the National Assembly also commended the strong commitment shown by the LIPMER in establishing a high-standard refining facility with clear objectives to reach international benchmarks. She affirmed continued support and facilitation from the National Assembly, particularly in strengthening the necessary legal frameworks for governing the gold industry, to lay a solid foundation for elevating the industry to international standards, adding value to Lao gold, enhancing competitiveness, and building trust in international markets.
