Laos, Philippines discuss business cooperation
Laos, Philippines discuss business cooperation
The first meeting of the Laos-Philippines Business Council (LPBC) took place in Vientiane last week.
According to a press release from the Philippine Embassy to Laos, the Council, led by its Chairman Mr Daovone Phachanthavong recently welcomed to Vientiane a high level Philippine business delegation led by key officials of its counterpart Philippines-Laos Business Council in Manila.
At the meeting, the members of the two councils discussed various areas for possible cooperation. Deputy Minister of Public Works and Transport Mr Lattanamany Khounnyvong opened the meeting and welcomed the participants from the Philippines.
He noted that the meeting takes place six months after an official visit by Prime Minister Thongsing Thammavong to the Philippines in May 2012. During his visit, the cooperation agreement between the two countries' National Chambers of Commerce and Industry was signed and established the Business Councils in both countries' capitals.
Vice President of the Lao National Chamber of Commerce and Industry, Mr Oudet Souvannavong, presented a general overview of the Lao economy, its competitive advantages, business constraints and consumption behaviour in Laos.
Resource persons from the Lao Ministry of Planning and Investment, Ministry of Public Works and Transport, Ministry of Energy and Mines and National Committee for Special Economic Zones were also on hand to give presentations on investment opportunities in Laos.
The topics covered included mining investment and licences; public works and transport sectors, and government policies and opportunities in Special Economic Zones. Lao private sector representatives also attended the meeting.
Atty. Alberto Agra expressed hope that the initial meeting was just the start of productive relationships between the two Chambers and the two governments, with discussions and consultations eventually translating into concrete business ventures.
To this end, a second visit to Laos by Philippines-Laos Business Council officials and members is slated for early January.
Philippine Ambassador to Laos Maria Lumen B. Isleta thanked the LPBC and Chairman Phanchanthavong for organising the meeting. She urged Philippine businessmen to take advantage of the opportunities for collaboration and partnership with both the Lao private sector and the government.
vientiane times
