Twelve MoUs signed to enhance trade relations and cultural exchange

• Mr John Lee, Chief Executive of the Hong Kong Special Administrative Region, visited Laos as part of broader ASEAN mission
• As superconnector, Hong Kong is well- positioned to supportLaos’s development, especiallyinfinance, banking, renewable energy and green finance, agriculture and infrastructure development

(KPL) A delegation led by Mr John Lee, Chief Executive of the Hong Kong Special Administrative Region (HKSAR), visited Vientiane on July 28-30 to deepen economic and trade relations, enhance cultural exchange and explorecollaboration opportunities between Laos and Hong Kong.

Twelve memoranda of understanding (MoUs) were signed in the areas of trade and investment promotion, finance, fintech, transport and logistics and education, paving the way for mutual prosperity between Hong Kong, Laos and the wider ASEAN region. 

The delegation, organised by the Hong Kong Trade Development Council (HKTDC), included some 30 leaders of international, Mainland Chinese and Hong Kong enterprises and conglomerates operating in finance and insurance, innovation and technology, professional services, infrastructure, transport and logistics, energy and hospitality. 

The Hong Kong delegation, organised by the Hong Kong Trade Development Council (HKTDC), includes some 30 leaders of international, Mainland Chinese and Hong Kong enterprises and conglomerates operating in finance and insurance, innovation and technology, professional services, infrastructure, transport and logistics, energy and hospitality

The delegates visited Vientiane Saysettha Development Zone and Vientiane Railway Station to understand the business and investment opportunities in the Lao PDR, its potential for Hong Kong companies and the impact of the Belt and Road Initiative (BRI).

A visit to Vientiane Secondary School fostered greater people-to-people exchange between Laos and Hong Kong.

The delegation also met with executives and key members of local business chambers, such as the Lao National Chamber of Commerce and Industry (LNCCI) and Lao Chinese Chamber of Commerce (LCCC), to introduce Hong Kong’s latest economic developments, business opportunities and unique advantages as superconnector between China and other Belt and Road markets.

Potential partnerships to support the growth of Lao SMEs were explored in areas, such as finance, banking, renewable energy, green finance, agriculture and forestry, leveraging Hong Kong’s expertise and connections to help them build capacity, find partners and explore new markets.

The Hong Kong delegation visits Vientiane Railway Station

Dr Peter K N Lam, Chairman of the HKTDC, said: "The objective of our mission is to explore opportunities and forge connections that will enable Laos to achieve its economic ambitions, while fostering stronger cooperation with Hong Kong.

Leveraging its superconnector role, 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 cooperation we have witnessed during this visit is just the beginning."

Twelve MoUs were signed by the following members of the delegation, Lao government bodies and Lao companies.

With the BRI entering its second decade  and amid greater regional cooperation facilitated by agreements, like the Regional Comprehensive Economic Partnership (RCEP), Hong Kong will continue to build on its role as superconnector, linking the wider China market with ASEAN and the world at large.

The Hong Kong delegation visits Vientiane Saysettha Development Zone

The HKSAR Government and HKTDC will host the Belt and Road Summit on September 11-12 in Hong Kong, at which Lao companies can make new connections and find new partners.

The Hong Kong delegation's visit to Laos is part of a broader ASEAN mission taking place from Jul 28-Aug 2. This mission aims to strengthen ties with Laos, Cambodia and Vietnam, building on the success of previous ASEAN missions to Singapore, Malaysia and Indonesia in 2023 and Thailand in 2022.

KPL