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Laos to promote investment opportunities in Northeast India
A Lao trade delegation heads to the second Lao-Northeast India Business Forum this week, hoping to promote more trade and investment between the two countries.
High-level officials from both countries attended a press conference last Friday at Vientiane Plaza hotel to outline the objectives of the visit from November 29 to December 2.
The Lao delegation will attend the forum in India's northeastern states of Assam and Nagaland, as well as take part in the Hornbill Festival in the latter destination.
During the forum, the delegation will present information on Lao trade and investment policy and discuss further cooperation with Northeast India, while some Lao business operators will also seek out investment opportunities.
Speaking at the press conference, Office Head of the Ministry of Planning and Investment Dr Kikeo Chanthaboury said the forum is in line with government policy to attain economic growth of no less than 8 percent for 2011 to 2015.
“The private sector is expected to contribute about 22 percent to this growth,” he said.
“The private sector's contribution is crucial to ensuring steady national economic growth, so we must be active in promoting trade with other countries. Sending a delegation to Northeast India is an important part of attracting investment from the private sector.”
Dr Kikeo said Laos is full of investment opportunities due its plentiful resources, particularly in agriculture, mining and hydropower.
“This forum is a good way to promote Laos to Indian businesspeople, and also presents a good opportunity for Lao businesspeople to explore opportunities in India.”
Charge d'Affaires of the Indian Embassy to Laos Mr Naresh Kumar said “The main purpose of the forum is to build good relations between Laos and Northeast India because there are a lot of similarities in possibilities for trade and business.”
“I hope this forum will increase understanding and cooperation between Laos and India, especially Northeast India. After the forum, we expect to see more businesspeople from Northeast India come to Laos to explore business and investment opportunities.”
Mr Naresh said there are already more Indian people investing in Laos, mostly in the agriculture, mining and hydropower sectors. “There is a lot of potential in Laos, and I expect even more Indian investors to visit Laos.”
Chairman and Managing Director of HSMM Group and Lao Agarwood Mr Habib Mohammed Chowdhury said “We saw great success from the first Lao-Northeast India Business Forum in July. There has been more and more interest from both Lao and Indian businesspeople to seek opportunities in the respective countries. We expect to have even more success this second time.”
The HSMM Group has sponsored both business forums. Mr Chowdhury said bilateral trade possibilities will only increase once a road connection is built in the next couple of years.
The press conference was also attended by Director General of the Commerce Policy Department of Ministry of Industry and Commerce Mr Bounsom Phomavihan, Acting Director of the Division for the Middle East, South Asia, Africa, Oceania and Pacific Islands Mr Somsack Vilaythone, and Secretary General of the Lao National Chamber of Commerce and Industry Mr Khanthong Dalavong.
vientiane times
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