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Thai investors urged to tap Laos stock exchange
The Commerce Ministry has encouraged Thai investors to explore opportunities in the recently opened Laos Stock Exchange as the country has become more attractive to foreign players in the Indochina region.
Deputy Commerce Minister Alongkorn Ponlaboot said yesterday that Thai enterprises should take the opportunity to trade in Laos' bourse. It is not difficult for Thai investors as Vientiane is very close to Thailand, he said. "The market is fresh. There are high opportunities for investors to earn large profit from investments in the long run," he said. Laos opened its first stock exchange on Tuesday, which drew an overwhelming response from investors of 17 countries.
Alongkorn said the opening of the stock market was a clear signal that Laos would focus more on economic development. Many Thai firms such as Mitr Phol, Ch Karnchang, Charoen Pokphand have high potential to be listed in the bourse as they have already opened businesses in the neighbouring country. In addition to promoting growth in bilateral trade and investment with Laos, Thailand will organise the first Lao-Thai Business Cooperation to AEC Forum in Vientiane from January 26-30.
Four activities will be organised. First is a meeting between the private sectors of both countries to establish cooperation in five areas - trade, investment, tourism, agriculture, and logistics.
Second is to provide business-to-business matching focusing on upstream investment such as copper, ethanol made from molasses, tapioca, and wood products. Laos is planning to set up 12 special economic zones. Many Thai businesses have high potential to operate there, Alongkorn said.
Third is to organise a Thailand Trade Exhibition at the Lao International Trade Exhibition and Convention Centre. More than 296 booths will be organised, including 50 from Laos.
The two countries will also launch a website, LaosThaiGateway.com, to provide contact lists and networks for the two nations' private enterprises. The project is part of the governments' concept to link Thailand and Laos with global trading.
Bilateral trade is expected to grow by 10 per cent this year as a result of closer cooperation between the two nations, Alongkorn said. Two-way trade grew 26 per cent to Bt82.8 billion in the first 11 months last year. Thai exports to Laos increased 19.7 per cent to Bt61.3 billion, while imports surged 50 per cent to Bt21.6 billion.
Meanwhile, Chiang Rai will organise the 16th Thailand Greater mekong Subregion (GMS) Trade Fair and Cultural Show from January 15-22 to promote trade in the North and among countries touching the mekong River. More than 200,000 visitors are expected.
The Nation
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