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EXIM Thailand opens an office in Lao PDR Linking trade and investment. The project is funded by the Lao People's Democratic Republic. Annual GDP growth of 61-65% is expected to grow by 7% per year.
Mr. Apisak Tantivorawong The Finance Minister revealed that Thailand and Lao PDR are closely linked. Physical infrastructure. Infrastructure connectivity, financial connectivity and interpersonal connectivity, especially the implementation of the border zone development project in line with the sufficiency economy philosophy. In addition to the commercial value between Thailand and Lao PDR, which represents about 5 billion US dollars per year and is expected to increase.
Thailand is the leading source of imports and the second largest export market of Lao PDR. Thai investors are the third largest foreign investor in Lao PDR. It is one of the largest electricity buyers in Lao PDR and cooperates to link transport and logistics systems in the Greater Mekong subregion and ASEAN.
In addition, due to the Asian Bond Market Initiative (ABMI), the Ministry of Finance has authorized the Lao PDR Ministry of Finance to issue bonds in Thai baht to raise funds for investment in infrastructure development in Lao PDR. The total amount of 55,500 million baht was issued by bonds in Thai baht eight times between 2013 and 2018, for a total of 45,690 million baht.
Thailand is the first country to support Lao PDR's ability to raise funds outside the country. Develop the regional bond market in line with the strategy of the Ministry of Finance. Strengthen Thailand's position as a leader in the regional bond market and foster ASEAN's common economic growth.
Mr. Apisak further stated that the establishment of the Vientiane government representative office believes that the Thai government and entrepreneurs are paying special attention to Lao PDR and are looking for new opportunities. The expansion of cooperation and the development of financial services are more efficient and diversified. This is an important work for the Bank to promote trade and investment. For economic benefits for both countries. This will result in improved national income, investment, employment and well-being. The result is closer cohesion and wealth, sustainable businesses and international relations. By the expertise. EXIM Thailand has been providing financial support for export, import and investment activities for more than 20 years, particularly in the areas of infrastructure development, energy, utilities and food processing in the Republic of Korea. Lao People's Democratic Republic.
"In addition to being the main financing unit for Thai and Laotian businesses, the mission is to strengthen the mission as" Ambassador of Economic Friendship. "Acting as a consultant Providing information on trade, investment and regulations Thai and Laotian companies also facilitate contacts with government agencies Lao PDR's mission in this country will be further intensified in the next phase, ensuring that the economic partnership between Thailand and Lao PDR is sustainable and sustainable, "said Mr. Apisak.
Mr Pisit Seriivattana Managing Director The Thai Export and Import Bank (EXIM Thailand), or EXIM Thailand, has signed a Memorandum of Understanding between the Bank and LNCCI to promote and support information cooperation. Financial and non-financial services Including activities together. Develop opportunities for trade and investment between the two countries. This will benefit Thai entrepreneurs and Lao entrepreneurs.
The Bank has been in existence since 1994. For more than 24 years, the Bank has encouraged exports, imports and investment by linking the Thai economy to other countries. The Bank has provided financial support to projects in the Lao People's Democratic Republic for a total of more than 40 billion Baht in the country's development projects. Infrastructure such as road construction. Investment in power plants Including large power plants that have electricity in Thailand. And many other projects in the industry and services.
Mr Pisit added that the Bank had established a representative office in Vientiane, part of the Thai team working with the government and the Thai private sector. Increase the value of trade between the two countries. Including the expansion of activities linking CLMVT (Cambodia, Lao PDR, Laos, Vietnam and Thailand) to countries. In the Greater Mekong Subregion and in ASEAN. In Vientiane, Vientiane will provide counseling services. Business Information It also provides information that will help Thai entrepreneurs of all sizes to start or expand their trade and investment in Lao PDR. Successfully This also facilitates international financial transactions. Seeking new opportunities Business to Entrepreneurs He is also expanding cooperation in new ways. Meet the expectations of the public and private sectors in both countries. Stimulate economic growth and development at the national and regional levels.
Lao PDR is the seventh economy of CLMVT with 7 million inhabitants. The International Monetary Fund (IMF) forecasts average economic growth rates of around 7% per annum for the years 2018 to 2022, the highest in the CLMVT and the highest in the world. The border of Lao PDR with CLMVT and China make Lao PDR a gateway for energy networks. Transportation Travel And Trade Area.
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