Laos Deputy Prime Minister Thongsavan Phomvihane has extended a strong invitation to Indian businesses to explore investment opportunities in Laos, emphasising the country’s political stability, strategic location, and commitment to green growth and digital transformation as key advantages for investors.

He made these remarks at the India-Laos Business Forum, describing the event as an important step towards strengthening bilateral economic cooperation and expanding trade and investment ties between the two nations.

Phomvihane noted that the forum coincided with the commemoration of Laos’ historic independence anniversary, underlining the significance of the occasion. He highlighted that India and Laos have witnessed growing cooperation across multiple sectors over the years, facilitated by frequent high-level exchanges and official visits.

Stressing Laos’ approach to foreign investment, he explained that the country was not merely seeking capital inflows but long-term partnerships that contribute to sustainable development.

He declared, “In Laos, we do not simply seek investors; we seek strategic partners. We are fully committed to working with you to co-create sustainable solutions, leverage our growing digital infrastructure, build resilient regional and international supply chains, and promote shared prosperity.” 

This statement underscored Laos’ vision of aligning investment with sustainable growth and regional integration.

The Deputy Prime Minister pointed out that the strong political relationship between India and Laos has already translated into tangible economic partnerships. Bilateral trade between the two countries has exceeded USD 82 million, with Laos exporting goods worth over USD 50 million to India and importing around USD 30 million in return.

He detailed that Laos exports electrical and electronic equipment, agricultural products, and manufactured goods to India, while importing vehicles, machinery, pharmaceutical products, textiles, and electronic materials from the Indian market. This trade dynamic has created new opportunities and strengthened goodwill between the two nations.

Phomvihane expressed confidence that the business forum would serve as a vital milestone in deepening economic engagement and facilitating partnerships between companies from both countries. 

He said the platform would act as a catalyst for meaningful business engagements, negotiations, deeper mutual understanding, expanded corporate networks, and new opportunities in trade, investment, and services.

Pitching Laos as an attractive investment destination, he emphasised that the country is among the most politically stable in the region, offering a predictable and secure environment for long-term business operations and foreign investments.

He also highlighted Laos’ strategic location in the heart of the Mekong sub-region, sharing borders with five countries, which positions it as a gateway to regional and international markets.

The Deputy Prime Minister identified agriculture and agro-processing, cultural and eco-tourism, industrial development, and special economic zones as the four priority sectors being promoted by the Lao government to drive economic growth and transform the country into a regional production and processing hub.

On the policy front, he explained that the government has introduced reforms to modernise the investment climate through the Law on Investment Promotion and related regulations. These measures include streamlined investment procedures, expanded digital government services, and competitive tax and financial incentives for investors.

Inviting Indian companies to strengthen their presence in Laos, Phomvihane reiterated his government’s commitment to enhancing bilateral economic cooperation and creating new opportunities for businesses from both countries.

His remarks reflect Laos’ broader ambition to position itself as a hub for sustainable development and regional connectivity, while deepening its economic ties with India.

ANI