Lao, Singaporean foreign ministries reaffirm ties in investment
 
Laos and Singapore have reaffirmed their partnership in the fields of trade and investment, during an official visit to Laos by a high-level Singaporean delegation.
Deputy Minister of Foreign Affairs Thongphane Savanphet welcomed Singapore’s Permanent Secretary for Foreign Affairs, Albert Chua, and his delegation when they visited Laos on October 12-13.

Deputy Minister of Foreign Affairs Thongphane Savanphet (right) welcomes the Permanent Secretary for Foreign Affairs of Singapore, Albert Chua.

The two foreign affairs’ leaders co-chaired the inaugural Laos-Singaporean Bilateral Consultation meeting in Vientiane on October 12.
During the meeting, the Lao side asked the Singapore government to encourage more Singaporean businesses to invest in Laos.
Laos welcomes Singaporean investment in the fields of agriculture, green energy (water, solar and wind power), tourism and hotels.
The two sides discussed the renewal of the electricity purchase and sale agreement between Electricite du Laos (EDL) and Keppel Electric Pte, and considered extending the agreement from two to five years.
They also discussed cooperation in a carbon credit project, on which Singapore will advise Laos.
Hope was expressed for more high-level exchanges as the two countries mark the 50th anniversary of their diplomatic relations next year.
In past years, Laos and Singapore have cooperated in the fields of trade and investment, education, human resource development, national defence, peacekeeping, and other areas.
The two sides reviewed the progress made in their joint endeavours in environmental protection, water source management, climate change, and the reduction of greenhouse gas emissions.
Singapore’s trade and investment in Laos has increased and Singaporean companies now operate 83 projects with a total investment value of US$362 million. Singapore is among the top 10 foreign investors in Laos.
Over the past five years, the value of trade between the two countries has reached US$451.4 million.
The two sides also exchanged views on regional and global developments.
On behalf of the Lao government, Mr Thongphane thanked the government and people of Singapore for the assistance rendered to Laos.
This has included support for human resources development, and English language and technical training for government employees, diplomats and senior government officials.
Singapore has provided assistance in skills development and provided volunteers, teachers and specialists to help Laos in various areas of development, as well as supporting Laos’ response to the Covid-19 pandemic.
Mr Thongphane said he hoped the government of Singapore would continue to support Laos in the future, and in preparations for Laos’ chairmanship of Asean next year.
In addition, Permanent Secretary Chua and his delegation called on Deputy Prime Minister and Minister of Foreign Affairs, Saleumxay Kommasith.
Mr Saleumxay briefed on Laos’ Asean Chairmanship priorities and theme.
The Singapore side assured the Lao delegation of Singapore’s support for Laos’ Asean Chairmanship.

By Times​ Reporters​
 (Latest Update October 16, 2023)