Deputy Minister of Finance Dr Phouthanouphet Xaysombath (right) signs an agreement with CEO of Energy Absolute Public Company Limited Mr Somphote Ahunai.

Energy Absolute Public Co., Ltd. signs MOA with Lao govt on development and investment in energy

A ceremony to sign a Memorandum of Agreement (MOA) on Cooperation in Development and Joint Investment in the Field of Energy Business took place in Vientiane on March 10, between the Lao government and Energy Absolute Public Company Limited.
The Ministry of Finance, on behalf of the government, signed the Memorandum of Agreement with Energy Absolute Public Company Limited.
The ceremony was attended by Deputy Prime Minister and Minister of Foreign Affairs Mr Saleumxay Kommasith as well as other ministers, deputy ministers, and dignitaries from relevant ministries, state-owned enterprises and companies.

CEO of Energy Absolute Public Company Limited Mr Somphote Ahunai.

Deputy Minister of Finance Dr Phouthanouphet Xaysombath gives a speech at the ceremony.

The MOA on cooperation is a new mechanism aimed at spurring development and joint investment in energy.
As part of it, the Lao government will allow the use of state assets in electricity projects to create added value and develop other electricity development fields that both parties

The two parties display the signed documents.

agree on, by avoiding overlaps and violations of other contracts that the government has entered into with other third parties.
It will also help the Lao government to mobilise funds, both short-term and long-term, to stabilise and improve the country’s financial position.
Energy Absolute Public Company Limited is a leading clean energy company in Thailand. It has the funds, credibility and good reputation that financial institutions and investors are ready to support.
The cooperation between the Lao government and Energy Absolute Public Company Limited will create new opportunities for the development of energy businesses that are in line with the potential of Laos and the goals of its National Socio-economic Development Plan, as well as in line with the world market’s demand for clean energy.

By Advertorial Desk
 (Latest Update March 14, 2023)