Mr Malaythong Kommasith (right) greets the Hong Kong Secretary for Financial Services and the Treasury, Mr Christopher Hui, before their meeting in Vientiane on July 20.

Laos, Hong Kong deepen cooperation in gold industry

Laos and Hong Kong plan to collaborate in the modernisation of the Lao gold industry and strengthen financial and investment ties following a series of high-level meetings and agreements this week.
Minister of Industry and Commerce Mr Malaythong Kommasith met Hong Kong’s Secretary for Financial Services and the Treasury, Mr Christopher Hui, in Vientiane on Monday to discuss ways to expand cooperation in trade, investment, finance and technology.
The talks built on a Memorandum of Understanding signed on the same day between the Lao Ministry of Finance and the Hong Kong Special Administrative Region government to strengthen cooperation in the gold market and support the development of a modern precious metals industry in Laos.
Mr Malaythong said the two sides aimed to deepen cooperation by combining Laos’ strategic location as a land link between ASEAN and China with Hong Kong’s strengths as an international financial, trade and services centre.
Development of the gold industry was a particular focus of the discussions.
Recognising gold as one of Laos’ prime natural resources, the Lao side proposed formulating a bilateral cooperation framework to add value to the country’s gold industry instead of exporting gold in its raw form.
The proposal includes technology transfer in relation to gold refining, joint investment in gold processing enterprises, establishing an internationally recognised gold testing and certification centre, training on import-export regulations, prevention of money laundering, and responsible verification of gold sources.
The proposals complement the Memorandum of Understanding signed on Monday by Deputy Prime Minister and Minister of Finance Mr Santiphap Phomvihane and Mr Hui.
Under that agreement, Laos and Hong Kong will cooperate on gold trading and market development, covering physical gold flows, financial market connectivity, international promotion, talent development, financial technology, regulatory cooperation, and improvement of the business environment for the precious metals industry.
The agreement is expected to support the Lao government’s long-term goal of building a modern and transparent gold market that contributes to sustainable economic growth and stronger financial market infrastructure.
Beyond the gold sector, the Ministry of Industry and Commerce also sought greater cooperation in financial technology, digital payments and digital trade through knowledge sharing and training programmes for ministry personnel.
The two sides identified green finance as a priority area for future cooperation. They discussed developing green finance and carbon markets while encouraging Hong Kong investors to invest in logistics, distribution centres, clean energy, the digital economy and industrial parks, taking advantage of the opportunities created by the Laos-China Railway.
They also reaffirmed the importance of strengthening regional economic integration through the ASEAN-Hong Kong Free Trade Agreement and the ASEAN-Hong Kong Investment Agreement.
They noted plans to sign the First Protocol to amend both agreements during the 58th ASEAN Economic Ministers’ Meeting in September.
Mr Malaythong said the discussions marked another important step in strengthening economic, trade and financial relations between Laos and Hong Kong while creating new opportunities for investment and sustainable growth.
Cooperation between Laos and Hong Kong has gathered momentum since Hong Kong Chief Executive Mr John Lee made the first official visit to Laos by a leader of the Hong Kong Special Administrative Region in July 2024.
During the visit, the two sides signed 12 agreements covering trade, investment, finance, education, transport, customs cooperation and other areas, laying the foundation for closer economic and business ties.

By Times Reporters
 (Latest Update July 23, 2026)