Thai business persons invited to expand investment in Laos

BANGKOK, June 2 (TNA) - Lao Prime Minister Thongsing Thammavong has invited Thai business operators to expand their investment into Laos to further enhance and strengthen bilateral relations and cooperation between Thailand and Laos. The Lao Premier made the invitation during a luncheon jointly hosted by the Thai Chamber of Commerce, the Federation of Thai Industries (FTI) and the Thai Bankers Association in Bangkok on Friday on the occasion of his official visit to Thailand as the guest of the Thai government. The Lao Prime Minister referred to sound bilateral relations and his chance to exchange experiences and boost bilateral cooperation between Bangkok and Vientiane during his trip to Thailand this week, when he also attended the 21st World Economic Forum (WEF) on East Asia in Bangkok. The Lao leader praised investment from Thailand, now the largest investing country in Laos, with the total value of mutual trade reaching as much as 4 billion US dollars so far, saying although Laos is a developing nation, it is a most secure place compared with other countries. According to the Lao leader, Vientiane has amended laws to facilitate foreign investors and to provide them with same promotional privileges as local investors; while the new five-year national economic and social development plan of Laos, from 2011-2015, gives more support to economic expansion, particularly after the ASEAN Economic Community (AEC) is formed by 2015, as Laos will play important roles in linking the Association of Southeast Asian Nations (ASEAN) with southern China, which will bring about even more business opportunities. At the luncheon, Thai business operators promised to be good partners of Laos in the long run. Thailand and Laos have, meanwhile, concretely connected through four friendship bridges, as well as cooperation on energy, agriculture and agro-industries. (TNA)