Chinese Businessmen Seek to Increase Investment in Laos | Lao Tribune

Chinese Businessmen Seek to Increase Investment in Laos

Over 70 Chinese businessmen and representatives of companies and enterprises are seeking market opportunities in Laos to increase trade and investment between Laos and Hunan Province, China.

They met with Lao government officials on Wednesday in Vientiane in the presence of the Deputy Minister of Planning and Investment Khamlien Pholsena, and Minister of the Hunan Chinese Communist Party Provincial United Front Work Department Ms Huang Lanxiang.

“The meeting is very important for both the Lao government and businessmen from Hunan because this forum will provide them an opportunity to discuss issues and join hands to create business cooperation and partnerships,” said Mr Khamlien Pholsena.

“This meeting is significant for Laos and Hunan Province, China to increase cooperation in economics, trade, agriculture, investment and tourism between the two countries under theme ‘One Belt One Road’,” said Mr Khamlien.

Recently, China’s investment in Laos reached almost US$6.5 billion, particularly in industry, agriculture, mining and servicew, according to Mr Khamlien.

China ranks as the biggest investor in Laos and the second biggest trading partner.

Ms Huang Lanxiang added that, “There are over 100,000 people from Hunan currently living and investing in Laos.”

“Last year, Hunan opened direct flights between Vientiane and Zhangshan to promote better relations and facilitate communication between the people of the two countries,” said Ms Huang.

“Over 164 Chinese companies have invested in Laos worth a total of over US$1 billion. BeerLao, rice, and Lao coffee are all popular in the Hunan market,” added Ms Huang.

Source: Lao News Agency