Hong Kong companies and other organisations sign 12 non-binding agreements with Laos

Hong Kong companies and other organisations have signed 12 non-binding agreements with their Lao counterparts, while Chief Executive John Lee Ka-chiu vowed to strengthen bilateral ties during his “historic visit” to Laos.

The city leader attended a breakfast meeting with local business leaders and also met with Prime Minister Sonexay Siphandone and Lao Foreign Minister Saleumxay Kommasith during his second day in the capital Vientiane on Monday.

“We believe that doing business is a win-win situation for the people of both places, and I have focused the energy and attention of the entire government and society on strengthening economic development and business,” he said.

Saleumxay told the city leader at the meeting that the framework for building a Lao-Chinese community and a shared future under President Xi Jinping’s Belt and Road Initiative provided a solid foundation for closer cooperation between Laos and Hong Kong.

“Today is a good opportunity for me and the Lao People’s Democratic Republic, both the government and the business community, to discuss matters and find a way to further expand economic trade cooperation in Laos and Hong Kong,” Saleumxay said.

The memoranda of understanding exchanged between the two sides include an agreement between Hong Kong and Lao customs, as well as three deals between the city’s Trade Development Council, the Lao government and two local chambers of commerce.

There was also an agreement between Hong Kong’s Goldford Group and the Lao National Digital Technology Group to invest in a payment platform, and a cooperation agreement between the Hong Kong Polytechnic University and a local secondary school.

Lee also met with Lao Prime Minister Sonexay Siphandone and will be given a tour of the Lao capital later today.

The city’s leader will travel to Phnom Penh in Cambodia on Tuesday, followed by Hanoi and Ho Chi Minh City in Vietnam, before returning to Hong Kong on Friday.