Myanmar investors eye business opportunities in Laos
Photo: Flood gate in Nam Gnum dam, Vientiane, Laos
A group of Myanmar investors have expressed interest in doing business in Laos , according to a senior official of the Lao National Chamber of Commerce and Industry (LNCI).
Vice President of LNCI Mr One-sy Boutsivongsakd said yesterday that he and his delegation held a meeting with 24 Myanmar entrepreneurs last week, who expressed interest in investing in Laos , particularly in the areas of agriculture, hydropower, mining, construction and the garment industry.
“These people have significant funds and they want to explore investment opportunities in the region, including Laos ,” he said, adding that the group had also visited Thailand and Vietnam to explore similar business and investment opportunities.
According to Pasaxon newspaper, the meeting of Lao and Myanmar business representatives took place on February 15 at the Lao National Chamber of Commerce and Industry.
Mr One-sy said he had learnt that these entrepreneurs had extensive experience in building roads and hydropower plants, as well as in the garment industry, and they maintained they would be able to transfer their technology to Laos .
In response to questions from the entrepreneurs, Mr One-sy stressed that Laos welcomed any foreign investors, particularly from Myanmar , with which Laos has maintained good relations and friendship.
“If they do decide to invest in Laos , we will be happy to provide them with cooperation and advice,” he said.
Through their visit, the entrepreneurs also wanted to learn more about Laos and the region, specifically the investment climate of each country, he said.
He explained that Laos was a country with investment potential because investors could use Laos as a production base to export goods to foreign countries, particularly Europe , which offered Laos import tariff exemptions.
Laos also has extensive natural resources and cheap labour, he added.
He said the Lao government had developed its policy to promote foreign investment to attract more entrepreneurs, adding that Myanmar entrepreneurs wanted to learn more about this policy.
Mr One-sy confirmed that there had been interest on the part of Lao investors in setting up businesses in Myanmar , and some had signalled that they were interested in buying timber from Myanmar .
“ Myanmar has a lot of forests and wants to export timber, which is why we made enquiries about the possibility of buying Myanmar timber,” he said, adding that the Lao government had a policy against cutting down forests, which would mean the furniture industry would soon face a shortage of timber, one of the main raw materials.
The visiting guests said that they would facilitate Lao negotiations with the Myanmar government to buy timber, because it was the government that would decide on the issue.
The Myanmar entrepreneurs suggested that the Lao government hold talks with a Myanmar counterpart to discuss the purchase of timber.
everyone from their grandparents to long distance cousins are building damn in Laos but ..............is Laos building damn for Laos???????????????
With all the natural resources Laos have....we can't get a loan to build them ourself? so we would have a majority ownership and more profit will go to Laos?
