Motor expo to rev up regional opportunities
Motor expo to rev up regional opportunities
Vehicle dealers from across the region are expected to seek business partners at the Vientiane International Motor Expo this week looking to sell more large cars in the Lao market.
A vehicle industry expert, who asked not to be named, said the ann ual motor expo taking place from September 30-October 6 at Lao-ITECC, which is co-organised by the Trade and Product Promotion Department and a local event organiser, would play an important role in expanding the larger vehicle market.
He said the event will continue to push vehicle industry growth in Laos through the exchange of vehicle information, resulting in increased trade next year.
Officials from the Department of Public Works and Transport said recently that vehicle imports were expected to rise by about 10 percent by the end of this year and increase by 15 percent next year.
The motor vehicle trade is anticipated to continue growing until 2020 on the back of the nation's strong economic growth rate.
The overall number of vehicles in Laos increased by 8.17 percent in 2015 compared to 2014, from 1,577,184 to 1,717,504 vehicles. This figure included 1,326,868 motorcycles, 337,449 cars, and 53,187 trucks.
Vientiane has the largest number of vehicles in Laos with 721,882.
Event organiser Mr Phonechan said the expo has invited various automobile companies from across the region to display their products.
Vehicle manufacturers from Asean and the Asean+3 nations of China, Republic of Korea and Japan would be showcasing their products, he said.
It is hoped the event will help drive business integration in the region and open wider competition in the vehicle market in Laos and raise the profile of country on the international stage.
Mr Phonechan said the event would be the nation's biggest ever automobile expo with vehicles on display ranging fro m motorbikes to luxury cars and car accessories.
This year's Motor Expo is titled Powerful Drive of the World and will feature various seminars to share information technology in the car industry along with allowing buyers and sellers to meet each other.
