Saturday, July 21, 2018

Chinese companies eye agriculture, industry cooperation

By:  Vientiane Times, July 20, 2018

VIENTIANE - Chinese businesses are interested in cooperating with Lao companies to carry out feasibility studies on agriculture and industrial production to boost bilateral trade and investment in Laos.

Leaders of more than ten Chinese companies from different sectors such as agriculture, industry and construction, led by the International Trading Federation of China’ vice president, Mr Wang Chuanbo, met administrators of the State Enterprise for Agriculture Service (SAS) this week to discuss possible cooperation in future.

Laos has excellent weather conditions and abundant natural resources for agriculture and livestock farming but large areas require investors for their development, SAS managing director, Mr Viengthong Phommahaxay said.

SAS is a state enterprise that deals with agricultural product equipment, irrigation installation service, consultancy service, assembling machinery, import and export of farm products and livestock farming.

The company also provides training in agricultural production techniques and services for planting, harvesting and spinning of rice and other crops, he said.

Currently, the company is opening up in a big way for cooperation in different sectors with domestic and foreign firms.

“So, this meeting is important and a good opportunity for the company and Chinese companies to consult on the possibility of agricultural and industrial cooperation in Laos,” he added.

The Chinese companies expressed an interest in cooperating with the SAS on feasibility studies on agricultural development and the environment in Laos and the promotion and development of trade in agricultural and industrial products.

China’s total investment in 849 registered projects in Laos from 1988 to 2018 was US$8.23 billion making the large neighbouring country the number one source of foreign investment, according to the Ministry of Planning and Investment.

The projects are mainly in the mining, hydropower, agriculture and finance sectors and in shopping centres and special economic zones.

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