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Opportunities for Singapore companies to invest in Laos, says its PM
SINGAPORE – There are opportunities for Singapore companies to invest in Laos, particularly in the agricultural and renewable energy sector, its prime minister said on Tuesday (May 2) during a visit here.
Laos has a green development policy, with great potential for hydropower development as it has abundant water resources, said Prime Minister Dr Thongloun Sisoulith. He was speaking at the Singapore-Laos Business Form being held at the Singapore Flyer.
To pave the way for greater economic cooperation between Lao and Singaporean business communities, the Singapore Chinese Chamber of Commerce and Industry (SCCCI) on Tuesday signed a memorandum of understanding with the Lao National Chamber of Commerce and Industry.
The agreement aims to share information between the two countries, and to provide businessmen here with more understanding of the investment opportunities in Laos.
Mr Roland Ng, president of the SCCCI, said that the two chambers have had a longstanding relationship and the MOU goes a step further in providing Singapore companies with the platform to explore new opportunities in Laos.
The chamber is looking into countries less familiar to Singapore in South-east Asia such as Cambodia and Laos and the SCCCI will be leading its first business delegation of 40 to these two countries at the end of May, he added.
Dr Thongloun, who was accompanied by executives from 24 Laotian companies, also remarked that Laos wants to turn its “land-locked” status into that of a “land-linked” hub through enhancing infrastructure and connectivity links.
“Connectivity for Laos is very important. In Laos, we try to turn our land-locked country to become a land-linked country,” he said.
Some upcoming connectivity projects include the construction of the high speed railway from southern China to Laos, which began construction last year, he added.
Source: http://www.straitstimes.com/business/economy/opportunities-for-singapore-companies-to-invest-in-laos-says-its-pm