Northern Thai provinces eye investment in Laos
Northern Thai provinces eye investment in Laos
Some 50 representatives from Thailand's four northern provinces of Chiang Rai, Phra Yao, Nan and Phrae yesterday talked to officials from the Lao National Chamber of Commerce and Industry (LNCCI) about the potential for further investment cooperation.
The Thai delegation, which represents the agriculture, tourism and cable television business sectors, will share in three rounds of talks to develop closer cooperation and take advantage of trading and investment opportunities that will arise when the two countries become part of the Asean Economic Community in 2015.
“Laos and Thailand have built three bridges between Nong Khai and Vientiane, Savannakhet and Mukdahan, and Nakhon Phanom and Khammuan. A bridge between Chiang Khong and Bokeo is now being built and plans are being drawn up for a bridge linking Beungkan and Pakxan to be built,” a representative of LNCCI explained.
These will enable Lao and Thai businesspeople to work more closely in both trade and investment.
A representative of Thailand's four northern provinces, Mr Suvisha Keomany, said the Lao economy is growing very quickly, especially in Vie ntiane.
The Thai delegation is seeking cooperation in promoting investment in Laos as a way of connecting tourism in the region, before the Asean Economic Community comes into effect in 2015.
Thailand is among the top three foreign investors in Laos. Bilateral trade value reached almost US$4 billion in 2011, up by 35.83 percent compared to 2010. The governments of the two countries agreed last year to double the value of bilateral trade to US$8 billion by 2015.
This is to be achieved by overcoming current barriers to trade and investment, particularly at border crossings and immigration checkpoints.
vientiane times
