Malaysian investors should seize investment opportunities in Laos as the ‘Land of A Million Elephants’ holds great potential in hydropower, semiconductor, transport, electronics, logistics, and the halal market.
Malaysia Business Chamber Laos (MBCL) president Tee Chee Seng urged Malaysian companies to explore the vast and blooming potential in the landlocked country.
‘They can venture into many investment sectors, especially in the Golden Triangle Special Economic Zone located along the Mekong River,” he said, adding that Malaysia is currently Laos’ fourth largest trading partner.
He was speaking to the Malaysian media in the Lao capital for the 44th and 45th Association of Southeast Asian Nations (ASEAN) Summits and Related Summits.
Tee noted that over his 16-year stay there, Laos, the ASEAN chair in 2024, has made significant changes, especially in infrastructure. It now holds a stronger land and air transport network.
“There is a direct flight from Kuala Lumpur to Vientiane while the railway network
from Malaysia opens up more import and export opportunities to China and Europe,” he said.
Tee explained that the newly launched cargo rail service connecting Malaysia, Thailand, Laos and China is expected to open new and lower-cost markets in the region.
He said the first ASEAN Express departed Kelana Jaya’s inland depot in Selangor on June 27, 2024.
“We are proud to have our Malaysian-owned train in Laos, an effort by Prime Minister Datuk Seri Anwar Ibrahim during his 2023 official visit to Laos. During that visit, we had a memorandum of understanding (MoU) signed between KTMB and Laos Railway.
“So, there are opportunities for Malaysians and the Lao people to do business because we have solved the logistic problem,” he added.
On the halal sector, Tee said the chamber is collaborating with the Malaysian Embassy in Vientiane to secure halal certification from JAKIM for Lao agricultural products to enter the vast markets in Malaysia and China.
He hoped the ASEAN meeting in the Lao capital city this week
would be a platform for the chamber to attract more investors into Laos.
“Through Laos, we can penetrate a vast market, as far as China and Europe, so it is a good opportunity for Malaysian investors to come and do business here,” he added.
The ASEAN Foreign Ministers’ Meeting launched the summits on Oct 8, while the 44th and 45th ASEAN Summits and Related Summits opened on Oct 9.
Anwar delivered Malaysia’s statement during the summits.
On Oct 11, Laos officially handed over the ASEAN chairmanship to Malaysia.
Apart from 2024, Laos also chaired ASEAN in 2016 and 2004.
Source: BERNAMA News Agency