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Leading US and Lao Companies Explore Business Opportunities | Celent Press Releases | Laos

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Vientiane Capital, 17 August 2022 – The Lao Chamber of Commerce and Industry (LNCCI) and the United States Agency for International Development (USAID) hosted the “US-Laos Business Roundtable: Exploring Business Opportunities” event on August 17 at the Crowne Plaza Hotel, Vientiane. The roundtable was held on the sidelines of an official visit to Laos by a delegation from the Washington, DC-based US-ASEAN Business Council (USABC) to ensure that Laotian and American businesses can engage in mutually beneficial trade and investment. It’s meant to help you grow.

The roundtable was chaired by Dr. Peter M. Haymond, US Ambassador to Laos and Audette Subannavong, Chairman of the LNCCI. The event will provide a platform for leaders of major American companies and over 20 major Lao companies to discuss and learn about potential business opportunities in their respective sectors in Laos, and make connections that will lead to lasting business partnerships. provide.

At the event, Ambassador Haymond highlighted the efforts made by the Lao government and LNCCI to help improve the business environment in Laos. “This is an important time for governments and the private sector to work together to address barriers to investment, accelerate economic growth and create job opportunities in the modern economy,” said Ambassador Haymond. “Our goal is to create jobs that support President Biden’s goals to help the Lao People’s Democratic Republic thrive in business, recover from COVID-19 and create a better post-COVID-19 world. to help you do it.”

In his remarks, Udet thanked the United States for its continued support to the Lao economy. He further emphasized the growth of trade between the two countries. “Trade between Laos and the United States has grown over the past decade following the implementation of the bilateral trade agreement in September 2003 and the Trade and Investment Framework Agreement in February 2016. , investment in the U.S. reached $2.4 million.The trade and investment figures look modest but are growing within acceptable limits,” Udet said.

The US-ABC delegation visited Laos for the first time since 2018. The group included representatives of major US companies such as Coca-Cola, Visa, RMA Group, Elanco Animal Health, Pernod Ricard and Bauer Group Asia. During the conference, both Lao and American companies discussed various topics such as investment promotion and regulation, Lao government priorities, digital economy, business opportunities and payment systems.

The event is one of the key initiatives supported by the United States through the USAID Lao Business Environment Project to promote international trade and investment in Laos. The USAID Lao Business Environment Project aims to assist the Lao government to improve the investment and trade environment and increase the competitiveness of SMEs.