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Laos, Thailand agree on business cooperation to boost economy
Laos and Thailand have agreed to cooperate on business development to promote trade and investment in order to boost economic efficiency and relations between the two countries.
The government and business sectors of the two countries yesterday signed eight Memorandums of Understanding (MoU) in Vientiane at the Laos-Thai Business Forum.
The first MoU is to promote business cooperation, trade and investment relations and tourism between the Thai Chamber of Commerce and the Lao National Chamber of Commerce and Industry (LNCCI).
The second MoU is cooperation on energy, e-commerce and education between the Federation of Thai Industries and LNCCI.
Third is assistance with training for Spa businesses between Thai Spa Association and Laos Wellness Association, while the fourth and fifth MoUs relate to the opening of Pho Zap and Taifa Optical Centre at View Mall in Vientiane.
The Sixth covers a joint venture for opening the major retail outlet there between Tantapan Supermarket of Thailand and Rim Ping Lao and the seventh MoU is a joint venture to open the coffee shop between Wawee Coffee of Thailand anwd Lao Wawee Coffee.
The eighth MoU is a cooperation agreement to provide techniques and knowledge on herb plantations and technology for commercialisation.
At the meeting Thailand and Laos also signed two MoUs on SME promotional partnerships between the Department of Industry Promotion of Thailand and Department of SME Promotion of Laos.
The partnerships cover the Office of SMEs Promotion of Thailand and LNCCI, the Lao Businesswomen’s Association and the Young Entrepreneurs Association of Laos.
Objectives include improving economic and commercial cooperation between Lao and Thai SMEs and developing Lao and Thai SMEs’ competitiveness in the global market.
Cooperation will also further expand their business interactions in areas such as trade, investment and services.
Most Lao SMEs still lack experience and skills in business operations, so cooperation is seen as beneficial for the local sector.
Thailand is considered as have high-quality human resources and experience in marketing, while Laos has strong potential in natural resources.
After the signings, Deputy Prime Minister, Somdy Duangdy advised both sides to actively implement the agreements to put them into practice.
Meanwhile, Deputy Prime Minister of Thailand, Somkid Jatusripitak said SMEs played a very important role in enhancing economic development and promoting job opportunities.
SMEs shouldn’t prioritise rapid expansion but rather first strengthen their operations and enhance financially stability, he commented.
While many entrepreneurs were successful, large numbers of SMEs were still struggling with capacity building, marketing and accessing finance, Mr Somkid said.
Thailand has invested in 71 major projects in Laos, worth US$741 million, making it the third ranked foreign investor after China and Vietnam, LNCCI President, Mr Oudeth Souvannavong reported at the forum.
By Times Reporters
(Latest Update May 26, 2017)
Daosavanh Resort & Spa Hotel, Savannakhet, Laos, HD Review
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Daosavanh Resort & Spa Hotel is a 3-minute walk from Khong River. It offers air-conditioned rooms with free Wi-Fi. The hotel is equipped with a pool, fitness centre and spa.
The hotel is a 10-minute drive to 2nd Thai - Laos Friendship Bridge. It is a 15-minute drive from Savannakhet Airport.
Rooms are fitted with a satellite TV and safety deposit box. Free toiletries, hairdryer and shower are included in an en suite bathroom.
Staff at the 24-hour front desk can assist guests with shuttle service and luggage storage. The hotel also has meeting facilities and free private parking.
Guests can enjoy local and international dishes at Champasavanh Restaurant daily between 06:00-23:00 hrs.
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Hue Riverside Boutique Resort & Spa
Hue Riverside Boutique Resort & Spa is located right inside Thuy Bieu Village (Hue, Vietnam) and also located on the bank of the Perfume River with an unique view of the Van Thanh Temple just opposite of the river.
Don't miss the end of the video for a beautiful sunset over the Perfume River!
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Koh Lanta's MOST BEAUTIFUL Resort - Crown Lanta Resort & Spa Review
Koh Lanta, Thailand was unbelievable. I LOVE the video sequence we made using the DJI Mavic drone of the Crown Lanta Resort and Spa hotel room with the private pool. It was the coolest hotel room I've ever stayed in. My love for our stay at Crown Lanta didn't end there - the Reggae Bar at sunset, the swim up pool bar, the BBQ seafood buffet, the private beach, and of course the breakfast buffets - it was the perfect place to end our trip, and unfortunately say goodbye to Doug for another 4 months.
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