Malaysia has been ranked the 4th largest foreign direct investor in Laos following China, Vietnam and Thailand with many Malaysian investment projects reported in hydropower industry and special economic zones.
Malaysia Ambassador to Laos Mohd Aini Atan told Mrs Khemmani Pholsena, Minister of Industry and Commerce on Wednesday that Malaysian investors were keen to continue to invest in Laos.
In 2016, Malaysia’s bilateral trade with Laos recorded an increase of 74.5 per cent reaching USD 31 million compared to USD17.7 million in 2015 while Malaysia’s investments in Laos is currently valued at over USD1 billion with 103 registered projects.
Both sides noted the successful official visit to Malaysia by Prime Minister Thongloun Sisoulith on May 9-10 when Mrs Khemmani Pholsena was also part of the delegation.
Among the highlight of the official visit was the Malaysia�Lao PDR Business Forum held on May 9 with attendance of more than 400 participants representing 200 companies that generated strong interest from the Malaysian business community to invest in the Lao PDR.
Mr. Mohd Aini shared with the minister that Malaysia was also keen to offer its expertise in the field of aviation management to Lao PDR.
He also concurred with Mrs Khemmani on the success story and rapid economic progress of Malaysia’s investment in Savannakhet Province with the on-going success of a Malaysian company called Savan Pacifica Development Co. Ltd., a concession holder for Savan-Seno Special Economic Zone, Savan Park (Zone C).
As of 28 April 2017, there are 55 licensed investors operating in Savan Park SEZ (Zone C) at the investment value of USD132 million.
Several additional Malaysian companies also show interest in investing in Savan-Seno Special Economic Zone after the Malaysia�Lao PDR Business Forum held on 9 May 2017.
In addition, Savan-DKLS Water Supply, a Malaysian company operating in Savannakhet has successfully supplied treated water to the people in Savannakhet Province.
The Malaysian Ambassador is also delighted that Malaysia is the largest foreign investor in Champasak Province through investment in Don Sahong Hydropower Project there.
Mr. Mohd Aini Atan undertook a site visit to Don Sahong Hydropower Project in Champasak Province on 5 July 2017.
Currently, the project is progressing well and over 31 per cent completed. The project is expected to be completed by December 2019 and generate 260MW of electricity upon completion.
Source: Lao News Agency