Lao, Chinese Businesses Seek to Boost Economic Activity and Promote Trade

12/06/202312/06/2023 Karlo 961 Views

On June 6, the Guiyang-Vientiane Economic and Trade Exchange and Investment Promotion Conference, hosted by the Guiyang Municipal People’s Government, organised by the Guiyang Municipal Bureau of Commerce and the Lao National Chamber of Commerce and Industry (LNCCI), was held in Vientiane, Laos.

Atsaphangthong Siphandone, member of the Lao Central Committee and Mayor of Vientiane, and Manothong Vongxay, Deputy Minister of Industry and Commerce (MOIC) of Laos, attended and witnessed the signing, while Ma Ningyu, Deputy Secretary of Guiyang Municipal Party Committee and Mayor of Guiyang, delivered a speech and made economic and trade promotion.

Daovone Phachanthavong, Executive Vice President of LNCCI, and Zhao Wenyu, Economic and Commercial Counsellor of the Chinese Embassy in Laos, delivered speeches. The Director General of Trade Promotion Department of MOIC, Xaysomphet Norasingh, and the representative of Vientiane Municipal Government made speeches. LNCCI Vice President Chanthachone and General Manager of Laos-China Railway Company Limited (LCRC) Liu Hong attended. Li Ang, Secretary General of the People’s Government of Guiyang moderated.

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Ma Ningyu said that Guiyang has a prominent hub position, a strong momentum of opening up, a burst of digital vitality, a solid industrial foundation, and outstanding ecological advantages, and the RCEP member countries are important foreign trade markets for Guizhou, and the China-Laos Railway is an important channel for Guizhou to open up to Asean, so it is timely and promising for Guiyang and Vientiane to expand economic and trade cooperation. Under “The Belt and Road”, Guiyang is seizing the overlapping opportunities of RCEP and China-Laos Railway to make full use of its location advantages, industrial base and favorable policies to actively expand economic and trade exchanges with Southeast Asian countries. We look forward to Lao friends entering Guiyang, building a new international logistics channel, creating a new situation of trade in goods, sharing new opportunities in digital economy, starting a new chapter of tourism cooperation, and working together to carry out cooperation and exchange in more fields such as education and science and technology to achieve wider win-win cooperation.

Daovone Phachanthavong stated that both sides will strengthen communication and deepen cooperation in the fields of economic and trade cooperation, industrial development and cultural tourism to promote mutual benefit and win-win situation for the benefit of both peoples.

It is reported that nearly 100 Lao enterprises actively participated in the meeting. During the meeting, 4 projects were signed a memorandum of cooperation.
Before the meeting, Ma Ningyu met with relevant leaders from MOIC, Vientiane, LNCCI, China-Laos Cooperation Committee, and conducted in-depth exchanges on promoting cooperation in economy and trade, education, culture, tourism and other fields.

LNCCIC was officially entrusted by the Guiyang government and the enterprise group to undertake the entire itinerary and government coordination of the high-end delegation between Guiyang and Laos. The delegate also visited the LNCCI headquarters and inspected the LCRC, the Saythetta Industrial Park, the VCCCI and LYCC. The economic and trade exchange promotion meeting also received strong support from the LNCCI headquarters, LGCC, LYCC and LSCC.

Representatives of Vientiane Capital, MOIC, LNCCI, VCCCI and leaders of well-known local enterprises in Laos, Guiyang Comprehensive Duty Bounded Zone, Guiyang relevant departments and business leaders attended.