Mr Santiphap Phomvihane (right) and Mr Christopher Hui shake hands after signing a Memorandum of Understanding on partnership in the precious metals industry.

Laos, Hong Kong sign MoU to modernise gold mar-ket, strengthen financial cooperation
 
Laos and Hong Kong Special Administrative Region (HKSAR) have signed a memorandum of understanding (MoU) to strengthen cooperation in the gold market, marking a new step in expanding financial ties and supporting Laos’ efforts to modernise its precious metals industry.
The agreement was signed in Vientiane on Monday by Deputy Prime Minister and Minister of Finance Mr Santiphap Phomvihane and the Secretary for Financial Services and the Treasury of the HKSAR Mr Christopher Hui, the Lao Ministry of Finance said in a press release.
The agreement establishes a framework for cooperation in gold trading and market development, covering physical gold flows, financial market connectivity, international promotion, talent development, financial technology, regulatory collaboration and the creation of a conducive business environment for the precious metals industry.
The signing ceremony was attended by senior officials from both sides.
Speaking at the ceremony, Mr Hui described the agreement as “a milestone in the deepening friendship and economic partnership between Hong Kong and Laos.”
“Through this partnership, we will work together to realise a seamless, efficient and trusted gold corridor that benefits producers, refiners, traders and investors in both our economies,” he was quoted as saying by China Daily.
Under the agreement, Hong Kong will facilitate access for qualified Lao gold owners to its internationally accredited refining network and encourage the use of refined gold bars that meet global standards. It will also strengthen financial market linkages to improve liquidity, price discovery and access to international capital for Lao market participants.
The Lao ministry said the partnership supports the government’s long-term vision of building a modern and transparent precious metals ecosystem that can contribute to sustainable economic growth, strengthen financial market infrastructure and deepen the country’s integration into regional and global markets.
As part of this strategy, the Ministry of Finance has supported the establishment of the Lao Bullion Bank, which is expected to modernise the domestic gold market by providing transparent bullion banking services, mobilising domestic gold resources into the formal financial system and strengthening cooperation with leading international financial institutions.
Mr Hui said the cooperation also aligns with Hong Kong’s ambition to build and enhance its commodity trading ecosystem, according to China Daily.
He noted that the city recently launched a central gold clearing and settlement system and is expanding its gold market infrastructure, creating new opportunities for collaboration with partners including Laos.
On the sidelines of the ceremony, Chief Executive Officer of the Lao Bullion Bank and Chairman and Founder of PTL Holding, Dr Chanthone Sitthixay and Head of Sales at the Asia-Pacific Region at MKS PAMP, Damien Han, signed a separate MoU on business cooperation, signalling growing commercial links between Laos’ emerging bullion sector and the international precious metals industry.

By Times Reporters
 (Latest Update July 22, 2026)