The Embassy of Malaysia and the Malaysian-Laos Association (MASLA) co-hosted a Dinner Talk on Monday, 12 October 2009. The Guest-of-Honor and Speaker for the talk was H.E. Dr. Sinlavong Khoutphaythoune, Minister of Planning and Investment.
2. The Dinner Talk was attended by about 25 Malaysian investors and officials of the Embassy of Malaysia. Dr. Kikeo Chanthaboury, Permanent Secretary of the Ministry of Planning and Investment and Mr Zulkiflee Abdullah, Country Manager of International Commercial Bank as President of MASLA were also present.
3. H.E. Dr. Sinlavong highlighted in his speech that the strategic goal of the Government of Lao PDR is to graduate from under-developed country’s status by 2020. It means increasing the GDP per capita to USD800 (from USD 924 at present). The Government is also targeting to overcome poverty and achieve the Millenium Development Goals (MDGs) as set by UN within 2015. The Lao Government is determine to generate economic growth at the average of 8% each year.
4. H.E. Dr. Sinlavong also stressed that the Lao Government, among others, will keep open policy, promote development of market economy with government’s supervision and, promote domestic and foreign investment in accordance with the new law.
5. During the briefing given by Mr, Manothong Vongsay, DDG of Investment Promotion Dept. of MPI, he informed that as from the year 2000 up to September 2009, Malaysia is the 9th largest investor in the Lao PDR, with 42 projects of about USD151 millions in value.
6. Mr. Manothong also highligthed that the new features in the investment law include, among others, shorten procedures to open new businesses; education and healthcare sectors are top priorities; and providing one stop shop services.