Lao PDR deputy PM invites Indian businesses to tap growth opportunities

New Delhi: Deputy Prime Minister of Lao PDR, Thongsavan Phomvihane, on Wednesday invited Indian business entities to explore the "immense potential" of his country, while asserting that it is looking not just for investors, but "strategic partners".

In his address at an event here, he also said the bilateral cooperation between the two countries over the decades have "grown stronger".

Phomvihane's first visit to India in his current capacity comes at a time when Lao PDR and India are marking the 70 years of establishment of the diplomatic ties between them.


Apart from a number of formal engagements during his official visit from June 1-3, on Wednesday afternoon, he attended India-Laos Business Forum hosted by the century-old trade association, Indian Chamber of Commerce (ICC), in New Delhi.

The event was attended by senior officials of the governments of India and Lao PDR, their envoys in each other's country, and members of the business community.

In his keynote address at the forum, Phomvihane said, "Over decades, our bilateral cooperation has grown stronger, across multiple areas."

While inviting investment from the Indian side, he underlined that Lao PDR is one of the most politically stable country in the region, and has a peaceful environment, and added that it occupies a "pivotal, strategic location" in Southeast Asia.

The deputy prime minister of Lao PDR emphasised that his country is "uniquely positioned" to attract foreign direct investment, as also the potential to boost cooperation in the sector of cultural and eco-tourism.

Phomvihane invited business investors to explore the "immense potential of our nation", and asserted that in Lao PDR, "we do not just look for investors, but strategic partners".

The visiting leader added that he was confident that the outcomes of this forum will make a significant contribution in boosting the economic cooperation between the two countries.

Prashant Agrawal, Additional Secretary (South) in the Ministry of External Affairs, in his address termed Phomvihane's visit a historic one, coinciding with the 70th anniversary of the establishment of diplomatic ties between the two countries.

"Lao PDR occupies a very special place in the heart of people of India," Agrawal said, as he underlined the civilisational ties between the two countries.

He asserted that the "bedrock of trust" between the two countries has translated into "deep diplomacy".