Projen group expands truck market in Laos
Projen group expands truck market in Laos
The Projen Industrial Group of China is expanding its business in the local market with the company's products proving popular in other countries throughout Asia.
The 4S Shop (Sojen truck showroom) was launched last week in Vie ntiane by the Lao-Jinchun Vehicle Trade Co., Ltd with the ceremony attended by Deputy Minister of Industry and Commerce, Mr Siewsavath Savaengseuksa, the Transport Department's Director General, Mr Viengsavat Siphandone, Projen Group Acting President, Mr Ma Liping and Projen President Assistant, Mr Yangjiang Tao along with Chinese delegations to Laos and local authorities.
The Phosy village showroom in Sikhottabong district is the first to be managed by th e Lao-Jinchun Vehicle Trade Co., Ltd in Laos providing sales and after sales service for Sojen truck customers.
An official from Lao-Jinchun Vehicle Trade Co said the company believed their trucks would appeal to the majority of businesses in Laos who were small and medium enterprises, especially farmers and traders.
Kolao is one of the biggest truck suppliers in Laos, especially its Hyundai brand, which Sojen is hoping to compete with for market share.
China is the largest foreign investor in Laos with total investments of about US$2.5 billion from 2011 to 2015, according to the Ministry of Planning and Investment.
In 2011 the value of two-way trade between Laos and China amounted to US$1.3 billion. In 2014 it rose to US$3.6 billion but fell to US$2.78 billion in 2015.
Chinese companies have pumped funding into over 760 Lao projects mainly in mining, hydropower, agriculture, finance, shopping centres, and special economic zones.
