Embassy of India

Vientiane, Laos

Embassy of India
Vientiane

Press Release

Subject: India and Lao PDR explore business and investment opportunities

Promoting India-Lao PDR business and investments: Deepening India-ASEAN Cooperation" was in focus as the theme of India-Laos Business Forum organized by Embassy of India, in collaboration with the Indian Chamber of Commerce (ICC), Lao National Chamber of Commerce and Industry (LNCCI) and ASEAN India Business Council (AIBC) on 12 February 2024 in Vientiane. The Forum also highlighted 10 years of India’s Act East Policy and Lao ASEAN Chairmanship 2024.

2. The Forum was addressed by Chief Guest H.E. Malaythong Kommasith, Minister of Industry and Commerce of Lao PDR who welcomed greater trade and investment between the two countries. Ambassador of India Prashant Agrawal in his address spoke about how the immense potential of Lao-India partnerships in business, trade, investment and tourism could be harnessed. Executive Vice President of LNCCI, Mr. Thanongsingh Kanlagna highlighted the synergies present in the business needs of the two countries. Director General of ICC, Kolkata Mr. Rajiv Singh noted that the strong bilateral relationship between India and Laos could be a catalyst for better economic and commercial relation between the two countries.

3. The well attended Business Forum saw participation of more than 170 business leaders representing more than 100 companies and institutions in key sectors such as power, health-care, tourism, textiles, hospitality, agriculture and food industry. Business leaders from both sides made sector-specific presentations followed by B2B meetings. EXIM Bank of India provided details of various financing options available to business ventures.

4.      Promoting two way tourism flows was a key focus area of the Forum. More than 3 million Indian tourists visited ASEAN countries last year. Many participants noted that having a direct flight between India and Laos will greatly boost tourism and business exchanges. 

5.   An MoU was signed between Indian Chamber of Commerce (ICC) and Lao National Chamber of Commerce and Industry (LNCCI) as also between ICC and AIBC to promote business linkages.

6.  On 13 February, business delegates belonging to the agriculture, agri-irrigation, power and food processing sectors called on H.E. Phet Phomphiphak, Minister of Agriculture and Forestry, Govt. of Lao PDR and business delegates belonging to the mining, minerals and power sectors called on H.E. Thongphat Inthavong, Deputy Minister of Energy and Mines, Lao PDR. They explored opportunities for collaboration in these sectors.

7.  Delegates from ICC visited Thanaleng Dry Port, one of the proposed nine dry ports of international importance in Lao PDR, and Vientiane Logistics Park. Port authorities gave a detailed brieifing on operations and facilities at the port and their role in making Laos as land-link to countries in the region. Opportunities for Indian Businesses were explored.

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