A group of business leaders visited Vientiane, the capital of Laos, on 28-30 July as part of a three-nation ASEAN mission organised by the Hong Kong Trade Development Council (HKTDC) to enhance trade relations and cultural exchange.
The delegation, led by John Lee, Chief Executive of the Hong Kong SAR, included international, Mainland Chinese and Hong Kong enterprises from a variety of sectors, including finance and insurance, innovation technology, professional services, infrastructure, transport and logistics, energy and hospitality.
During the visit, the delegates signed 12 memoranda of understanding (MoUs) with companies and government bodies in Laos.
The MoUs cover trade and investment promotion, finance, fintech, transport and logistics and education.
The delegates also visited Vientiane Saysettha Development Zone and Vientiane Railway Station to understand business and investment opportunities in Laos, its potential for Hong Kong companies and the impact of the Belt and Road Initiative (BRI).
They also met with local business chambers - including the Lao National Chamber of Commerce and Industry (LNCCI) and Lao Chinese Chamber of Commerce (LCCC) - to explore potential partnerships in areas, such as finance, banking, renewable energy, green finance, agriculture and forestry.
Dr Peter K N Lam, Chairman of the HKTDC, said: "Hong Kong is well-positioned to provide assistance, nurture talent and strengthen infrastructure across various sectors in Laos. We believe there are immense opportunities for mutual growth."
The MoUs were signed by the following members of the delegation, Lao government bodies and Lao companies:
- Customs and Excise Department of Hong Kong, China and the Customs Department of the Lao People’s Democratic Republic;
- Invest Hong Kong and Lao National Chamber of Commerce and Industry;
- Hong Kong Trade Development Council (HKTDC) and the Lao Chinese Chamber of Commerce (LCCC);
- Hong Kong Trade Development Council (HKTDC) and the Lao National Chamber of Commerce and Industry (LNCCI);
- Hong Kong Trade Development Council (HKTDC) and the Lao Ministry of Industry and Commerce;
- CCB International (Holdings) Limited and Phongsavanh Group Co., Ltd;
- CLP SEA Infrastructure Limited; CGN Energy Technology (Laos) Co., Ltd and Krittaphong Group Co., Ltd;
- Federation of Hong Kong Industries (FHKI) and the Vientiane Capital Chamber of Commerce and Industry;
- Goldford Group and Lao National Digital Technology Group Co., Ltd (LADT);
- Lao National Digital Technology and HashKey Capital;
- Hong Kong Polytechnic University (PolyU) and Vientiane Secondary School (VSS); and
- The Hong Kong Shippers’ Council (HKSC) and the Lao National Chamber of Commerce and Industry.
The visit to Laos is part of a broader ASEAN mission to strengthen trade, business and cultural ties with Laos, Cambodia and Vietnam. This builds on the success of previous ASEAN missions to Singapore, Malaysia and Indonesia in 2023 and to Thailand in 2022.
The Hong Kong SAR Government and HKTDC will host the Belt and Road Summit on 11-12 September in Hong Kong, at which Lao companies can make new connections and find new partners.
