Mai Sayavongs headlines India-Lao PDR Business seminar
Mai Sayavongs headlines India-Lao PDR Business seminar
Government officials, investors and businesspeople from Laos and India came together at a business seminar in Vientiane on Monday to examine current Lao-Indian business cooperation and explore future opportunities in trade and economics.
The seminar, entitled ‘Trade and Investment Opportunities in Lao PDR – supporting current vision and policy of the Governments of the Republic of India and Lao PDR,' was held at the Lao Plaza hotel in Vientiane on Monday .
Sponsored by HSMM Group, the seminar brought together high level governmental officials from relevant Lao ministries, members of the Indian Business Community and a delegation from the Federation of Industries and Commerce of North E astern Region (FINER), providing a platform to present recent developments and explore future opportunities in trade and potential economic ties between India and Laos.
Director General of the Asia Pacific and Africa Department of the Lao Ministry of Foreign Affairs Mr Mai Sayavongs delivered the keynote speech regarding the special relations between India and Laos and their future prospects and the further strengthening of these ties.
Mr Mai Sayavongs highlighted during his keynote speech the close and cordial longstanding relations between Laos and India. He presented an insight into the development of the Lao-Indian relationship, which was first established on February 2, 1956 through the signing of a bilateral agreement.
This was followed by an overview of recent cultural and political exchange activities through the regular visits of delegates from the business sector and high level governmental officials.
In September 2010, former President of India HE Pratibha Devisingh Patil visited Laos. Then, the former Indian Minister of External Affairs HE Salman Khurshid attended the 7th Laos-India Joint Commission for Bilateral Cooperation in Vientiane in September 2013, while in December 2012, Prime Minister of the Lao PDR Mr Thongsing Thammavong visited India to attend the 20th anniversary of ASEAN-INDIA Summit and the Lao Deputy Prime Minister and Foreign Minister Mr Thongloun Sisoulith visited India in September 2012.
Mr Mai Sayavongs outlined that since 1994 Laos and India have signed several agreements which contribute to bilateral cooperation in various fields such as trade and investment, the promotion of small and medium d enterprises, agriculture and National Defence to foster socio-economic development and also human resource development.
He highlighted the fact that India has been providing about 200 scholarships each year to Lao nationals to train them. Meanwhile economic and political relations between Laos and India have been progressively fostered and developed over the last decade.
The Indian Government helped in restoration of Vat Phou Champassak site by setting up a project.
Mr Mai Sayavongs pointed out that Laos' political stability, consistent government policies and low costs of labour give the country a comparatively advantage for foreign investment compared to other destinations in the region.
Furthermore Laos has displayed stable and consistently high economic growth in recent years, which also attracts foreign direct investment.
The Lao government plans to continue to improve its foreign investment friendly policies in order to attract the overseas capital required to continue the trend in economic growth and thereby lift the country out of poverty by 2020, he noted.
Finally Mr Mai Sayavongs expressed his sincere appreciation to Lao National Chamber of Commerce and Indian Chamber of Commerce in Laos, who continuously promoted economic cooperation between India and the Lao PDR.
All in all, the Lao and Indian delegations were positive about the outlook for future trade cooperation and investment, confident that their common ties will continue to grow with the coming Asean regional integration and the opportunities it will bring.
vientiane times
