PM encourages Chinese firms to invest in Laos

VIENTIANE, Jan 11, 2020, Vientiane Times. Prime Minister Thongloun Sisoulith met with Chinese business leaders this week as part of his official visit to China from January 5 to 9. The meeting took place in Beijing on January 7. The event was held in cooperation with the Lao embassy to China and the Asean-China commerce chamber, according to a report from the Lao edition of Chinese Radio International (CRI), Vientiane Times reported.

During the meeting, Mr Thongloun said Laos welcomed Chinese firms’ investment in Laos and their contribution to the development of Laos, adding that the country would continue to improve the business climate to attract more foreign investment.

Also speaking at the event, a senior official from Laos’ Ministry of Planning and Investment updated Chinese business operators on Laos’ economic outlook, the need for investment in development projects, and private investment opportunities. An investment calling list was provided to potential Chinese investors, the CRI reported.

Government data indicates that China is now the largest foreign investor in Laos. Investment and economic cooperation between the two nations looks set to increase after the scheduled completion of the Laos-China railway in 2021.

In addition to holding talks with Chinese business operators, Mr Thongloun toured the southern province of Yunnan where he and his delegation learnt about the successes of Chinese enterprises.

According to a government media release, the premier and his delegation visited a Chinese agricultural company and learnt about the development of the enterprise, especially the way the company’s management had been transformed. The Lao delegation also visited a railway, and a vocational and technical school which provides training courses on railway operations. Starting this year, the school will offer training courses for 600 Lao nationals so they can acquire the skills needed to run the railway when it becomes operational in 2021.

The group paid visits to Chinese firms that operate investment projects in Laos. These include the Vientiane Expressway, the Vientiane Center – one of the largest shopping malls in Vientiane – and the Saysetha Economic Zone in Vientiane.