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New law firm opens on back of rising investment
Siam Premier, a leading law consultancy in Thailand, has opened a branch in Laos amid growing foreign investment in the nation.
The management of the Bangkok-based legal firm last week held an official ceremony to open Lao Premier at the Lao Securities Exchange in Vientiane. Deputy Prime Minister Somsavat Lengsavad and a number of ministers and senior officials attended the event.
Speaking at a press conference prior to the event, Lao Premier Chairman Prof. Dr Surakiart Sathirathai said Siam Premier had decided to expand its business into Laos after learning about the opportunities presented by the growing number of foreign companies investing in Laos.
Laos has opened a stock market and has policies to become the ‘battery of Asean' and to transform itself from a landlocked nation to a land link in the region. All of these issues will attract foreign investment into Laos and create opportunities for legal service providers, he said.
Increasing foreign in-vestment in Laos has resulted in growing demand for law consultancy services, one of the main factors that encouraged Siam Premier to expand into the neighbouring country.
He also said foreign investors consider legal consultancy services as an important component in compiling the legal documents required to invest in Laos, such as joint venture agreements, capitalisation of enterprises, and tax clearance.
Prof. Dr Surakiart, who is also former Thai Deputy Prime Minister and Minister of Foreign Affairs, expressed confidence the firm will achieve success in Laos, adding that it has strong knowledge of the Lao political system, laws and culture so it will be able to provide services of benefit to foreign investors.
He said Lao Premier would not only do business in Laos but also wants to take part in the nation's economic development, adding that Siam Premier and its Australian and Japanese business partners would distribute investment information on Laos to its clients to promote Laos as an investment destination.
Lao Premier will work with the Lao government to develop human resources in the legal sector to meet the growing needs of foreign investors.
Prof. Dr Surakiart said a number of Lao lawyers have been sent to Thailand for training, while some Thai lawyers will work at Lao Premier to share their knowledge with Lao colleagues.
vientiane times
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