On 29 June 2026, H.E. Mme. Phonevanh Outhavong, Deputy Minister, Vice Chair of the Investment Promotion and Management Committee (IPMC), Standing member received H.E. Mr. Ong Siew Gay, Ambassador of the Republic of Singapore to the Lao PDR, on the occasion of his courtesy visit to discuss ways to further strengthen bilateral cooperation in investment promotion.
During the meeting, both sides exchanged views on investment cooperation, economic development, and creating a more conducive environment for attracting investment. Vice Chair of IPMC also introduced the roles and responsibilities of the IPMC following the Government’s institutional restructuring, highlighting its strengthened coordination role, enhanced investor facilitation, and efforts to improve the effectiveness of investment promotion.
The Singaporean side shared Singapore’s experience through the Economic Development Board (EDB), the country’s lead agency responsible for driving investment promotion and industrial development. The Ambassador also expressed Singapore’s interest in exploring areas where it could contribute to supporting investment development in the Lao PDR.
The Ambassador noted that although Singapore has limited natural resources, it has achieved sustainable economic growth by investing heavily in human capital, workforce development, and high-value skills. These have become key factors in attracting quality investment and strengthening the country’s long-term economic competitiveness.
The meeting reaffirmed the strong commitment of both sides to further deepen cooperation, exchange experiences, and explore new opportunities to promote investment and strengthen institutional capacity. Both sides also expressed their shared interest in encouraging potential Singaporean investors to explore business opportunities and expand investment in the Lao PDR, contributing to the country’s sustainable socio-economic development.
