Laos prepares to host Asia-Europe Business Forum
Laos prepares to host Asia-Europe Business Forum
Minister of Industry and Commerce Dr Nam Vinhaket says he is satisfied with the progress of preparations for the 13th Asia-Europe Business Forum, which will take place in Vientiane in November.
“I would like to express my satisfaction with the preparations for the forum, and to say that all of our concerns have been addressed,” the minister said yesterday after hearing a report from the forum organising committee.
Laos hopes that the forum, which a number of CEOs from Asia and Europe plan to attend, will enable the least developed country to inform participants of its investment potential. The government hopes to further mobilise foreign direct investment to boost economic growth and reduce poverty.
Laos will become a member of the World Trade Organisation early next year so the government is inviting overseas business leaders to see for themselves the investment potential and business climate in Laos.
The government is particularly keen to attract foreign investment in agribusiness as Laos has plenty of fertile land and a growing agricultural processing industry. A major development target is to diversify the country's economic base to ensure sustainable growth. At present, Laos is heavily reliant on mining exports, which will one day be depleted.
The forum organising committee has drawn up an agenda with the theme “Caring for Earth for sustainable economy and business in Asia and Europe”.
The forum will consist of six sessions that will discuss a wide range of topics including access to finance, environmental challenges and food security, energy, and the sustainable management of natural resources.
Also on the agenda is market development and connectivity between Europe and Asia's sub-regions of East Asia and the Greater Mekong.
One of the concerns the organising committee is currently addressing is ensuring that all forum participants can find accommodation in Vientiane.
“We have signed agreements with a number of hotels to provide accommodation for forum participants,” said a member of the organising committee, Mr Oudeth Souvannavong, in his report to the meeting yesterday.
Another committee member said they had sourced nearly US$700,000 in funding and expected that more companies, including electricity providers, telcos and car dealers, would help with the organisation of the forum.
The Lao government has allocated a budget of US$120,000 to host the forum, Mr Oudeth said, adding that Lao Airlines, the Sepon Mine, Phu Bia Mining and various banks had agreed to also provide financial support.
vientiane times
