"Sharjah Chamber" Looking to enhance trade and investment opportunities with Laos
Sharjah, 8 February / WAM / The Sharjah Chamber of Commerce and Industry discussed strengthening economic relations and building sustainable partnerships between the business communities in Sharjah and the Lao People’s Democratic Republic, with the aim of contributing to the growth of the volume of bilateral trade and mutual investments between the two countries and pushing them towards broader horizons in a way that serves common interests.
The Sharjah Chamber said today that a business meeting was held at the Chamber’s main headquarters in Sharjah, bringing together His Excellency Abdullah Sultan Al Owais, Chairman of the Board of Directors of the Sharjah Chamber of Commerce and Industry, His Excellency Saliumsay Koumasit, Deputy Prime Minister of the Lao People’s Democratic Republic, and his accompanying delegation, in the presence of Odette Souvannavong, President of the National Chamber of Commerce and Industry in Laos, Abdulaziz Al Shamsi, Assistant Director General of the Communication and Business Sector at the Sharjah Chamber, and a number of businessmen and representatives of companies and the private sector in the Emirate of Sharjah and the Republic. Laos.
She added that the two sides touched on the importance of exploring investment opportunities and building bridges of direct communication between the two business communities, which contributes to increasing cooperation in various sectors of common interest, as Sharjah is full of qualitative opportunities in the sectors of industry, logistics, trade, tourism, education and the new economy, while Laos has great economic potential and promising opportunities in the fields of agriculture, energy, mining, tourism and manufacturing industries.
The meeting witnessed the signing of a memorandum of understanding between the Sharjah Chamber and the National Chamber of Commerce and Industry of Laos with the aim of strengthening trade relations and developing and facilitating economic cooperation between the business communities in both countries.
The memorandum stipulated the exchange of information in a way that contributes to investment and economic growth, the exchange of trade delegations, the organization of joint missions, as well as the exchange of commercial publications via electronic platforms, the promotion of available investment opportunities, and the benefit of expertise, knowledge and training aspects, in addition to cooperation in the field of participation in exhibitions, seminars, business meetings and specialized conferences held in the two countries.
His Excellency Abdullah Sultan Al Owais stressed that, based on its strategic vision, the Sharjah Chamber is keen to support the emirate’s directions in diversifying its economic partnerships and enhancing its commercial and investment presence on the international arena, especially with friendly countries that have promising economic potential. He pointed out that the emirate provides an attractive and stimulating investment environment and possesses advanced infrastructure, flexible legislation, and specialized free zones, in addition to a strategic geographical location linking regional and global markets.
Al Owais stressed the chamber’s readiness to provide the necessary support and facilities to businessmen and investors from the Lao People’s Democratic Republic and to build sustainable cooperation relations to increase the volume of trade and investment exchange between the two sides. He expressed his confidence that the business meeting will be a starting point for a new phase of economic cooperation and will contribute to enhancing direct communication between the private sector and transforming available opportunities into projects that support economic development in the two countries.
For his part, His Excellency Saliumsay Kommasit praised the pioneering role played by the Sharjah Chamber in supporting the private sector and facilitating the business environment, stressing his country’s keenness to enhance economic and investment cooperation with the Emirate of Sharjah.
He pointed out that Laos enjoys a strategic location in the heart of the ASEAN region that qualifies it to be a gateway for Emirati investors to Southeast Asian markets, pointing out the availability of promising investment opportunities in the fields of agriculture, energy, mining, tourism and manufacturing industries, which opens the way for fruitful partnerships between the business communities and the private sector in the two countries.
Subsequently, bilateral business meetings were held between participating businessmen from both sides, during which areas and opportunities for cooperation were presented in a number of sectors, most notably food security and agricultural industrialization, in light of Laos’ natural resources and fertile agricultural lands, in addition to the sectors of real estate development, eco-tourism, technology, and digital transformation, while benefiting from the legislative facilities and existing relations between the two countries.
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