Mr. Habib Mohammed Chowdhury promotes economic exchange between India and Laos
Mr. Habib Mohammed Chowdhury promotes economic exchange between India and Laos
President of INCHAM and also Chairman and Managing Director of HSMM Group, Mr Habib Mohammed Chowdhury has highlighted the many opportunities available to Indian investors in Laos.
HSMM Group were the principle sponsors of the ‘India – Lao PDR Business Seminar on Trade and Investment – supporting the current vision and policy of the Governments of the Republic of India and Lao PDR’ held last Tuesday at Vientiane Plaza.
During his speech, Mr Habib Mohammed Chowdhury expressed his thanks on behalf of the Lao National Chamber of Commerce, the Indian business community in Laos, the Indian Chamber of Commerce in Lao PDR (INCHAM) and the Federation of Industry and Commerce of the North Eastern Region (FINER).
He thanked the participants for joining the seminar and highlighted that this event will give opportunities to exchange ideas and information on investment opportunities, bilateral trade policies, FDI and also cultural exchange.
Mr. Habib pointed out that it is a daunting task to relate the process and the milestones made towards developing business relations between India and Lao PDR in such a short term.
From 2010-11 to 2011-12 alone the total trade volume of import and exports increased by almost 800 percent from US$13.33 million to US$104.5 million. And it even increased by more than 60 percent to US$167.49 million in 2012-2013. The actual yearly total bilateral trade volume makes India one of the top investors in Lao PDR.
Two of the main objectives of INCHAM are to 1) Promote economic exchange in the area of trade and investment, and 2) Exchange economic data and information that will supplement the enhancement of trade and investment.
Mr Habib especially thanked the Lao government for its proactive and pro-investment policies. The Lao government is consistently making special efforts towards continuously improving the investment and business environment.
The Lao PDR already has a brand name, that which symbolises the legendary Lao hospitality, beauty and cultural diversity. Laos is also home to many important religious monuments and historical sites such as ‘Luang Prabang’ UNESCO World Heritage Site or Vat Phou.
We should work towards “Building on this brand”. The Governmental policies of the Lao PDR empower and enrich the country and help make its residents stake holders in the process.
The Current policies of the Lao government concentrate on setting an entrepreneur friendly economical infrastructure, which enforces sustainable economic growth.
From the Indian side Mr Habib highlighted two important development policies;
1) The Look East Policy which came into effect in 1992 and mainly concentrating on road connectivity to southeast Asian countries especially for enhancing and promoting bilateral trade and economic means.
2) The local governmental policies of the Northeast Regions of India. Nestled between Bangladesh, China, Bhutan and Myanmar, it is ideally positioned for cross-border trade. Moreover, the neighbouring ASEAN region is one of the most dynamic economic regions and offers a huge opportunity to transform the whole economic landscape of this region. At the end of his welcome remarks Mr. Habib added “I am proud to be an Indian, and furthermore a NORTH EAST INDIAN. Wherever I go in the world, I proudly wear my heritage and legacy, and always try to be the best possible ambassador of our beautiful, colourful and vibrant culture.”
“I have had the pleasure of serving as the President of the Indian Chamber of Commerce in Lao PDR and organising high profile delegations from Laos and India to several forums in cooperation with FICCI (Federation of Indian Chambers of Commerce and Industry), CII (Confederation of Indian Industry), FINER (Federation of Industries and Commerce of North-Eastern Region) and ASSOCHAM (The Associated Chambers of Commerce and Industry of India)”.
Finally, Mr Habib expressed his earnest and highest appreciation for the attendance and participation of Dr Kikeo Chanthaboury, Mr Mai Sayavongs, Mr. Sousath Sayakoummane, Mr.Kamphanh Sengthongkham, the representatives from the Ministries, the ambassadors, government officials, foreign delegates, representatives of international chambers and all participants.
vientiane times
