LNCCI, Hong Kong sign MOUs for cooperation in several fields

The Lao National Chamber of Commerce and Industry (LNCCI) has signed four Memorandums of Understanding (MOUs) with several business bodies of Hong Kong to promote cooperation for business, trade and investments.

The Executive Vice President of the Lao National Chamber of Commerce and Industry (LNCCI), Mr Daovone Phachanthavong (second from right), shakes hands with a representative from Hong Kong after signing an MOU in Vientiane last week.

The MOUs were signed when a high-level business delegation from Hong Kong visited Laos during July 28-29. The delegation was led by the Chief Executive of the Hong Kong Special Administrative Region (HKSAR), Mr John Lee, and included several high-ranking officials and business leaders.
The delegation from Hong Kong held discussions with members of the LNCCI led by the Executive Vice President of the Chamber, Mr Daovone Phachanthavong, in the morning on July 29. The Lao delegation and its counterpart from Kong Hong discussed a number of issues related to economic cooperation. Mr John Lee was also part of the gathering.
On the same day, the Vice President of the LNCCI, Mr Bounleuth Luangpaseuth, accompanied members of the Hong Kong Trade Development Council to a meeting with the Lao Minister of Industry and Commerce, Mr Malaythong Kommasith, and the two sides exchanged views on trade promotion and development of infrastructure in different areas.
During the Hong Kong delegations visit to Laos, the LNCCI signed four MOUs with bodies based in Hong Kong. This included MOUs with the Hong Kong Logistics Association, Invest Hong Kong of the Government of Hong Kong Special Administrative Region of the People’s Republic of China, Hong Kong Trade Development Council, and Industry Council of Hong Kong.
The signing of the MOUs was witnessed by the Lao Deputy Prime Minister and Foreign Minister, Mr Saleumxay Kommasith, and Mr John Lee.
The MOUs will promote business cooperation between Laos and Hong Kong and exchange of information on different aspects of business collaboration.
In addition, the Vice Hong Kong delegation, accompanied by the board of management of the LNCCI, met the Lao Minister of Planning and Investment, Dr Phet Phomphiphak, to discuss the opportunities for cooperation in investments, including  incentives and other policies.

By Times Reporters
 (Latest Update August 2, 2024)