HANGZHOU, China – Chinese enterprises have invested over US$15 billion in more than 900 projects across various sectors in Laos, with a focus on energy, mining, infrastructure, services, and agriculture. This announcement was made at a Lao-Chinese business meeting held in Hangzhou, Zhejiang province on November 9th 2024.
About 169 representatives from the public and private sectors of both nations convened at the meeting, including Lao Prime Minister Sonexay Siphandone, who delivered a keynote address at the Lao-Chinese Business Forum. The event, jointly organized by the Lao National Chamber of Commerce and Industry (LNCCI) and the Zhejiang Provincial Committee of the China Council for the Promotion of International Trade (CCPIT Zhejiang) with a close coordination with Ministry of Planning and Investment, Ministry of Industry and Commerce and Ministry of Foreign Affairs of Lao PDR, aimed to strengthen economic ties between Laos and China.
Key goals of the meeting included:
- Expanding Cooperation: Facilitating dialogue on investment policies, economic infrastructure, and development opportunities in Laos, including special economic zones.
- Boosting Trade and Investment: Creating favorable conditions for increased bilateral trade and investment.
- Sharing Knowledge: Exchanging insights on economic development and investment potential to enhance public and private sector collaboration.
- Promoting Key Sectors: Highlighting investment opportunities in renewable energy, ore processing, logistics, e-commerce, tourism, and environmentally friendly projects.
Three cooperation agreements were signed during the meeting, solidifying partnerships between Lao and Chinese businesses.
Prime Minister Siphandone and his delegation also met with Zhejiang provincial authorities and participated in a study tour focused on poverty alleviation and industrial zone development.
