Lao, Chinese companies come together for strategic cooperation, development of digital integration

The Laos-China Friendship and Cooperation Association of Commerce, Lao National Digital Technology Group Co Ltd, China Society for Optimisation

Representatives from both sides display the signed documents at the signing ceremony.

of Basic Construction and Fareast Credit Rating Co Ltd have signed a four-party strategic cooperation agreement and jointly released the “Sovereign Credit Rating Report for ASEAN Countries”.
The documents were signed at the Landmark Riverside Hotel in Vientiane last week, in conjunction with the 2024 ASEAN Business and Investment Summit (ABIS) held during October 8-11.
The signing ceremony was witnessed by the Deputy Minister of Industry and Commerce, Mr Bountheung Duangsavanh, the President of the Lao National Chamber of Industry (LNCCI) and Chairman for the Lao PDR’s ASEAN Business Advisory Council (ABAC-Lao PDR), Mr Oudet Souvannavong, and other representatives.
This initiative will significantly promote the interconnectivity of infrastructure in the digital finance sector and lay the foundation for the issuance of Panda bonds by relevant entities in ASEAN countries, helping them enhance their sovereign credit ratings and reduce financing costs.
The Lao National Digital Technology Group signed a strategic cooperation agreement with Southeast Asia’s leading local lifestyle platform, E-gets, to collaboratively integrate digital lifestyle scenarios across the ASEAN region.
With the increasing trend of ASEAN integration, both parties will leverage cutting edge digital technologies to jointly explore the co-construction of cross-border lifestyle integration infrastructure.

Representatives from various companies signed the documents and the event was witnessed by Lao business leaders and government representatives.

The Vice Chairman of the Lao National Digital Technology Group, Mr Cyril Chan (right) shakes hands with the Country Manager of E-Gets Technology Co Ltd Mr Victor Lee after signing ceremony in Vientiane last week.

The Vice Chairman of the Lao National Digital Technology Group, Mr Cyril Chan, told reporters after the signing ceremony that the group signed a strategic cooperation agreement with E-gets, Southeast Asia’s leading local lifestyle platform, for building infrastructure for future cross-border lifestyle integration.
The Country Manager of E-Gets Technology Co Ltd Mr Victor Lee said that the cooperation between his firm and the Lao National Digital Technology Group will create an application and a digital banking system to enable transactions within ASEAN.
“E-gets already has an existing application. Once the cooperation agreement was signed, we will continue to create a new digital transaction platform within the next few months,” he said.

ByAdvertorial Desk
 (Latest Update October 15, 2024)