Prof. Dr Kikeo Khaykhamphithoune addresses a health sector meeting in Huaphan province.A Memorandum of Understanding is signed between the Indian Chamber of Commerce and the Lao National Chamber of Commerce and Industry.

India, Laos explore business, investment opportunities

Promoting India-Laos business and investments by deepening India-Asean cooperation was the theme of the India-Laos Business Forum organised by the Embassy of India, in collaboration with the Indian Chamber of Commerce (ICC), Lao National Chamber of Commerce and Industry (LNCCI), and the Asean India Business Council (AIBC) in Vientiane on February 12.

Ambassador of India Mr Prashant Agrawal addresses the India-Laos Business Forum.

Minister of Industry and Commerce Mr Malaythong Kommasith addresses the event.

The Forum also highlighted 10 years of India’s Act East Policy and Laos’ Asean Chairmanship in 2024.
The Forum was addressed by Laos’ Minister of Industry and Commerce, Mr Malaythong Kommasith, who welcomed greater trade and investment between the two countries.
The Ambassador of India to Laos, Prashant Agrawal, in his address spoke about how the immense potential of Laos-India partnerships in business, trade, investment and tourism could be harnessed. Executive Vice President of the LNCCI, Mr Thanongsingh Kanlagna, highlighted the synergies present in the business needs of the two countries.
Director General of the ICC, Kolkata, Mr Rajiv Singh, noted that the strong bilateral relationship between India and Laos could be a catalyst for better economic and commercial relation between the two countries.
The well-attended Business Forum saw the participation of more than 170 business leaders representing more than 100 companies and institutions in key sectors such as power, healthcare, tourism, textiles, hospitality, agriculture, and the food industry.
Business leaders from both sides made sector-specific presentations followed by Business to Business (B2B) meetings.

Over 170 business delegates participate in the event.

Business delegates from Laos and India.

The EXIM Bank of India provided details of various financing options available to business ventures.
Promoting two-way tourism flows was a key focus area of the Forum. More than 3 million Indian tourists visited Asean countries last year.
Many participants noted that a direct flight between India and Laos would greatly boost tourism and business exchanges.
A Memorandum of Understanding was signed between the ICC and LNCCI and also between the ICC and AIBC to promote business linkages.
On February 13, business delegates from the agriculture, agri-irrigation, power and food processing sectors called on Laos’ Minister of Agriculture and Forestry, Dr Phet Phomphiphak, and business delegates from the sectors of mining, minerals and power called on Laos’ Deputy Minister of Energy and Mines, Mr Thongphat Inthavong, and explored opportunities for collaboration in these sectors.
Delegates from the ICC visited one of the proposed nine dry ports of international importance in Laos, Thanaleng Dry Port, and the Vientiane Logistics Park.
Port authorities gave a detailed briefing on their operations and facilities at the site and their role in making Laos a land link to countries in the region, which also offers great opportunities for Indian businesses to explore.

By Phetphoxay Sengpaseuth
 (Latest Update February 19, 2024)