Arya News - Malaysia is Laos’ fourth-largest foreign investor, with total investment valued at US$946 million across 88 projects.
VIENTIANE – Prime Minister Sonexay Siphandone has called for deeper business cooperation and more Malaysian investments in Laos, saying the country offers strategic advantages and strong potential in key economic sectors.
“Many sectors of the Lao economy have potential for foreign investment, including Malaysian financiers,” the Prime Minister said while addressing the High-Level Laos-Malaysia Business Forum held recently in Kuala Lumpur.
Malaysia is Laos’ fourth-largest foreign investor, with total investment valued at US$946 million across 88 projects.
The business forum brought together more than 180 participants from both countries, including government officials, ambassadors, and business leaders in energy, trade, agriculture, banking, tourism and logistics.
Prime Minister Sonexay participated in the business forum during his official visit to Malaysia to attend the 46th ASEAN Summit. The event was jointly organised by the Lao National Chamber of Commerce and Industry, the Malaysian Business Council in Laos and the Federation of Malaysian Manufacturers, with support from the Ministries of Industry and Commerce and Planning and Investment, and Mega First Corporation.
In his keynote address, Prime Minister Sonexay said Malaysia remains one of Laos’ most significant foreign investors, with companies successfully operating in energy, infrastructure and financial services.
Prime Minister Sonexay urged Malaysian companies to explore investment opportunities in agriculture, green energy, food processing, mining, logistics, digital tourism, and carbon credit markets.
He pointed to Laos’ 21 special economic zones, including the Amata and Sino-Agri Potash SEZs, as attractive areas for industrial and manufacturing investments.
Malaysian investments into Laos span sectors such as renewable energy, transport, telecommunications, construction, banking and hospitality.
The Prime Minister also outlined recent government reforms to improve the business climate, including the revision of the Investment Promotion Law in 2024, streamlined procedures, and new digital platforms for business registration and tax services.
He said the Lao government is committed to supporting foreign investors and has created mechanisms such as the Lao Business Forum to ensure regular dialogue between the public and private sectors.
Prime Minister Sonexay said the Laos-China Railway, upgraded road networks, new expressways, dry ports, and the recent launch of berth 3 of Vung Ang Port in Vietnam have significantly enhanced Laos’ connectivity and cut transport costs.
“We have expanded connectivity with neighboring countries by establishing ourselves as a regional transportation hub,” he said.
Another notable recent development is the signing of a Memorandum of Cooperation between the Thanaleng Dry Port in Laos and Malaysia’s Penang Port. This agreement aims to strengthen logistics and transport links by creating a strategic trade corridor connecting southern China to Malaysia’s west coast via Laos and Thailand.
“This forum marks an important step forward in building lasting partnerships. I invite Malaysian businesses to visit Laos, explore our investment opportunities and grow with us,” he said.
In 2024, the total trade between Laos and Malaysia exceeded US$43 million, up from US$30 million in 2023, according to the Lao Ministry of Foreign Affairs.