Phongsavanh Group prepares for business expansion in Kunming
Phongsavanh Group prepares for business expansion in Kunming
Phongsavanh Group plans to expand its business cooperation and investment in Kunming, the capital of Yunnan province, China, as part of preparations for regional and international integration.
Phongsavanh Group representatives visited Kunming on March 25-29, led by Group Chairman Prof. Dr Od Phongsavanh, to meet officials and private sector representatives and discuss the business aspects of cooperation.
Initially, the Group will establish a representative office in Kunming, according to a press release from the Group.
In Kunming, the Group paid a courtesy visit to Mr Wang Chunyan, Vice Governor of Kunming. The group also met with officials from the departments of promotion and investment, commerce, transport, trade and industrial chamber, Industrial and Commercial Bank of China Limited (ICBC) and other businesses.
Petroleum Trading Lao Public Company (PTL) Chief Executive Officer, Mr Chanthone Sitthixay, said Kunming is the capital and largest city in Yunnan and is the centre of the province's politics and administration, economy, and community, and is also a gateway to Asean.
“That is why the Group has selected Kunming as a business investment area,” Mr Chanthone said. PTL is part of the Phongsavanh Group.
Kunming is also one of the 24 cultural capitals in China and has a population of more than 7 million. It has a large airport that is one of the four largest in China. Kunming is now focusing on the development of infrastructure and transportation, and expects to open a high speed railway next year to link with Beijing.
The Phongsavanh Group is a leading group of companies in Laos with successful enterprises in international trading, timber, hotels, telecommunications, petrol supply, and security products.
The Group received a licence to set up the first privately owned bank in Laos, and offers excellent service to individuals, small com panies, large corporate customers, and government agencies.
Lao Central Airlines was the first private airline to open for business in Laos and offers premium and budget seats. The airline hired PricewaterhouseCoopers for management consultancy services to ensure adherence to international aviation standards.
