Malaysian investors explore business opportunities in Laos
Malaysian investors explore business opportunities in Laos
A group of Malaysian business operators visited Laos this week to explore investment opportunities in one of the fastest growing economies.
President of Malaysia's National Chamber of Commerce and Industry, Mr Datuk Syed Ali Alattas, led representatives of the 27 Malaysian firms on a visit to Vientiane from January 27-30 where they met with Lao ministers, senior government officials and business counterparts.
According to a press release from the Malaysian chamber, the prime objective of the high level trade delegation was to explore fact-finding and awareness dimensions of the Lao business landscape, business opportunities and ways of doing business in Laos.
The delegation also sought to learn about business and investment laws and regulations as well as the current business climate in Laos following its accession to the World Trade Organisation (WTO).
The Malaysian trade and investment mission allowed the Malaysian business operators to have firsthand contact and interactions with Malaysian investors who have established themselves in Laos, as well as government officials and the business community. This gave them a golden opportunity to gain valuable insights into the Lao business landscape.
The visitors met up with a nu mber of Lao business counterparts during the Business Networking Session to discuss possible collaboration. Follow-up visits to Laos are expected to materialise from the ir joint-venture business plans.
They were also given briefings by two Malaysian companies currently developing the Savan-Seno Special Economic Zone in Savannakhet province, and the Dongphosy Specific Economic Zone in Vientiane.
Several Malaysian companies have expressed interest in establishing a base in these Specific Economic Zones in the near future due to the attractive incentives available.
At the end of the programme, the Malaysians said they were happy with the visit and very positive about the potential that exists in the Lao market.
They also recognised Laos as an emerging market that is centrally located in the heart of the Greater Mekong Sub-region, which is of strategic importance and should be tapped into as it is fast becoming a regional distribution and logistics hub beyond the regional mainstream.
Laos has been vibrant in its economic expansion in recent years. By virtue of it being a member of Asean and the soon to be realised Asean Economic Community, this has strategic significance for the Malaysian business community to be better linked with its counterparts in Asean.
vientiane times
