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Laos, Vietnam to boost telco trade, production
The Ministry of Posts and Telecommunications has agreed to boost the trade and production of telecommunications equipment in cooperation with the Ministry of Information and Communications of Vietnam.
“The cooperation effort aims to boost the two countries' ICT and IT growth. This will also help to advance socio-economic development,” Lao Minister of Posts and Telecommunications Mr Hiem Phommachanh said.
Vietnam can produce telecoms equipment and Laos can identify ways to cooperate in trade. “Or we can have a joint venture investment regarding the production of equipment and facilitate business cooperation between telecom operators in our two countries.”
Mr Hiem made the comments at a meeting in Vientiane on Monday, during a visit of Vietnamese ministry officials to Laos.
Vietnam's Minister of Information and Communications Mr Nguyen Bac Son said Vietnam produces telecoms equipment that is able to meet market requirements, including both copper and fibre-optic cabling.
A Vietnamese company hopes to build a copper cable factory in Laos that will supply the Lao posts and telecoms industry as it develops.
Mr Nguyen Bac Son said some Vietnamese posts and telecom companies are preparing to expand their business networks and services in the Lao market.
Some Vietnamese telecom companies are already cooperating in successful business operations with partners in Laos. This includes Star Telecom Co Ltd, which is a joint venture between Lao and Vietnamese telecom operators, with the Lao side holding a share of 51 percent and the Vietnamese partner owning a 49 percent stake.
“Today we see their business is operating well. So we agree to continue to facilitate business in our two countries in terms of cooperative telecommunications sector investment,” Mr Nguyen Bac Son said.
Laos has four telecom operators: Lao Telecommunications Company, Enterprise of Telecommunications Lao, Star Telecom and VimpelCom Lao Co Ltd.
The Lao IT services market is estimated to grow by 26 percent in 2011.
That translates to a total worth of 800 billion to 928 billion kip (US$100 million to US$116 million), according to a recent study distributed at the Lao Banking and Telecom World Conference and Expo 2011.The market is expected to reach about 1.2 trillion kip (US$155 million) next year.
Major growth is expected in IT services in the public sector including e-government, e-education, e-health and e-commerce as well as major private investments from the finance industry and from telecommunications companies.
vientiane times
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