Lao-Korean business people discuss investment climate
Lao-Korean business people discuss investment climate
Senior officials, business people and experts from Laos and the Republic of Korea gathered last week to discuss the current investm ent climate in the sectors of agricultural products, food processing and agricultural development.
Meeting at the Laos-Korea Investment Forum, the Korean participants had been offered an opportunity to establish networks with business representatives and officials in Laos through a one-on-one business meeting.
The forum was held in Vientiane by Asean-Korea Centre in collaboration with the Ministry of Planning and Investment. The debate was inaugurated with the opening remarks of the Secretary General of the Asean-Korea Centre Mr Kim Young-sun and followed by the congratulatory remarks of the Minister of Planning and Investment Mr Somdy Duangdy, as well as Ambassador of the Republic of Korea to Laos Mr Kim Soo-Gwon.
In his remarks, Mr Somdy noted that the country has put special efforts into its socio-economic development policy based on agricultural development and will support it through the National Socio-Economic Development Plan (2016-2020).
The minister also expressed his interest in the New Village Movement of Korea, which enabled Korea to achieve notable economic development based on development in rural areas and also his willingness to further enhance cooperation with Korea t hrough various work programmes. According to Mr Somdy, a business delegation composed of leading businessmen from Laos plans to visit Korea this year.
Laos is the chair of Asean in 2016, a historic year for the launch of the Asean Community, and has great potential in terms of economic, social, and cultural cooperation with Korea.
Last December, Korea's Prime Minister Hwang Kyo-ahn visited Laos and met with his Lao counterpart, Mr Thongsing Thammavong. The two parties agreed to boost bilateral cooperation in the fields of politics, diplomacy, trade, investment, infrastructure, and energy.
The forum was held as part of the Investment and Market Research Mission programme in the fields of agricultural development, food and beverages.
In order to obtain first-hand information on the investment environment and explore opportunities in Laos, Korean delegates visited special economic zone (SEZ), Kolao, the first Korean company in Laos that has listed stock, and Charoen Pokphand (CP) in Laos, one of the world's biggest agrofood companies.
Asean-Korea Centre also held the Product Development Seminar for Handicraft SMEs in Laos from January 27-28, in cooperation with the Ministry of Industry and Commerce of Laos.
Approximately 70 participants from the handicraft SMEs learned from the experiences of Korean experts through presentations on the design of Korean handicraft products and marketing strategies for commercialising the products. Industrial visits to the Lao handicraft SMEs for on-site support were also conducted.
