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Korean firm shines light on streetlamp options
Narae Electric, a streetlight manufacturer in the Republic of Korea, is eyeing the market in Laos after identifying business opportunities in one of the world's fastest growing economies.
A presentation by the company on Friday for Vientiane officials provided information about the energy saving streetlights used in Korea, and explained the various options.
Narae Electric officials said the company's decision to expand in Laos was based on the country's surging growth. They also said the government's policies made doing business in Laos an attractive proposition.
According to a report from the Ministry of Planning and Investment, Korea is the fourth largest foreign investor in Laos and has operated projects worth US$512 million from 2000 to 2010.
With the start of charter flights from Korea to Laos this month, the way is paved for further bilateral trade and investment. Lao Airlines also plans to launch a direct flight to Korea next year.
A senior official from the Vientiane Public Works and Transport Department said Narae Electricity had provided the lighting for Chao Anouvong Park and Lane Xang Avenue so the Vientiane authorities were already familiar with the quality of the company's products.
He said the facts showed that the Korean LED lights were a good option because they were energy efficient and used less electricity than the existing streetlighting in the capital. Vientiane authorities hope to replace old lights around the capital with newer ones over the coming years.
vientiane times
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