Thai business operators eye investment in Vientiane
Thai business operators eye investment in Vientiane
More Thai businesspeople are investing in projects in Laos since the country was officially integrated into the Asean Economic Commun ity (AEC) at the end of 2015.
Last week, a delegation of Thai business operators led by senior officials from Thailand's Khon Kaen Chamber of Commerce met with the Phongsavanh Group in Vientiane to share their experiences and discuss possible business matching.
During the meeting on Friday, Chairman of the Khon Kaen Chamber of Commerce Mr Khemchart Somjaiwong spoke about business opportunities and the conditions for investment in Laos to the delegation from Khon Kaen and other provinces in Thailand.
�Ideally located in the centre of the region, Laos is a meeting point for business networking with its neighbouring countries of Vietnam, China, Thailand and Cambodia,� he said.
Laos is the right place to do business, especially for people from Thailand, because the two countries have similar practices in terms of culture, language and mutual understanding, he added.
Thai participants asked many questions in relation to investment projects, while specialists from the Phongsavanh Group provided information about the legal processes and taxation system in Laos.
Many interesting topics were discussed and the current business climate in Laos was explained by a representative of the Phongsavanh Group.
Some members of the Thai delegation said they planned to return to Laos to learn more about the possibility of doing business here and building connections with local businesspeople.
Most compared the differences between Laos and Thailand in relation to their differing business backgrounds.
The Phongsavanh Group suggested they consider investing in the mining sector, agriculture and real estate, and tourism.
Prior to the meeting, a delegation from Khon Kaen and several businesspeople from Bangkok were accompanied by Phongsavanh Group staff on visi ts to various investment projects in Vientiane, including a shoe manufacturing factory.
Phongsavanh Group's Chairman of the Shareholders' Committee, Mr Somboun Phongsavanh, urged the visitors to consider Vientiane as a priority because it is the Lao capital and borders on Thailand's Nong Khai province.
The Thai group met with various Lao officials and businesspeople and discussed trade, services and investment cooperation in the years to come.
The Phongsavanh Group comprises th e Phongsavanh Bank, Lao Central Airlines Public Company and Petroleum Trading La o Public Company (PTL).
The group has strong connections with countries in Asia and Europe in the trade of merchandise and investment and has representative offices in Vietnam, China, Thailand, Singapore, Malaysia and Myanmar which have helped Laos to become well known in the region and further afield.
