Young Thai entrepreneurs learn Lao investment regulations, procedures
Young Thai entrepreneurs learn Lao investment regulations, procedures
Young Thai entrepreneurs were given information on investment regulations and procedures in Laos at a seminar on partnerships and business opportunities last Friday.
The seminar was co-organised by the Young Entrepreneur Association of Laos (YEAL) and the Young Entrepreneur Chamber of Commerce (YEC) of Thailand.
Laos and Thailand have a shared border and over 60 billion baht of border trade in Nong Khai and Ubon Ratchathani provinces and other northern provinces.
“We realised that we should develop this business opportunity,” Mr Amonthep Thaviphanith from the Chamber of Commerce of Thailand said.
He noted that integration with neighboring countries, especially Laos, is significant ahead of the Asean Economic Community (AEC) in 2015.
“Laos and Thailand can do business together to open doors into China and Vietnam and at this moment we shouldn't look at trade between the two countries, we must watch business opportunities with other countries ahead of AEC,” Mr Amonthep said.
This seminar would be a good opportunity for young entrepreneurs who are running businesses to learn investment promotion policy and business operation regulations and procedures so that they can run or extend their businesses in Laos in the future, he added.
YEC and YEAL will also have activities together in the future to enhance and promote business cooperation.
Thai business operators will have an advantage over other countries when investing in Laos due to having a similar language. They should take this opportunity, therefore, to consider investment in Laos, according to YEAL President Ms Valy Vetsaphong
She hoped that Thai and Lao business operators could work out partnerships in the near future.
Young entrepreneurs are a driving force for Asean economic growth and have an obligation to become one of the three pillars of the Asean community, she believed.
The seminar aimed to promote and increase more foreign investment in Laos, in particular to prepare for the Asean Economic Community in 2015. In addition, it was to discover opportunities for Thai and Lao entrepreneurs to jointly operate businesses in Laos, according to Ms Valy.
She said participants would hear about domestic and foreign investment promotion policy in Laos, priority investment projects of the Lao government, business investment regulations and business operation admission procedures in Laos.
The participants also met with potential business partners and explored avenues of possible business cooperation.
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