indonesian embassy promotes Indonesian investment in Laos

Jakarta,  (ANTARA News) - The Indonesian Embassy in Vientiane held an investment forum to encourage Indonesian businessmen to invest in Laos, according to a statement from the embassy received by Antara here Tuesday.

"The seminar and business meeting between businessmen from Indonesia and Laos are expected to enhance people-to-people contacts between the two countries and encourage Indonesian entrepreneurs to invest abroad, especially in Laos," Indonesian Ambassador to Laos Pratito Soeharyo remarked while opening the Investment Forum in Vientiane.

The event, in which more than 40 companies from Indonesia and Laos participated, received a positive response from the local businessmen, who were optimistic of business cooperation being established between businessmen of both nations.

The Indonesian Embassy in Vientiane has always facilitated every program to support economic diplomacy between the two countries.

Several presentations were displayed during the meeting, including those from the Indonesian Investment Coordinating Board that highlighted the investment climate in Indonesia and elaborated on efforts made by the government to boost Indonesia`s ease of doing business ranking.

In addition, representatives of PT. Gresik Cipta Sejahtera and PT. Enviro Total Solusi, Indonesian companies engaged in chemistry and the environment, conveyed their company profile.

As a non-traditional market, Laos has the potential to open market access from neighboring countries including China, Thailand, Vietnam, Myanmar, and Cambodia that share borders with the nation. The total population of these countries reaches some 240 million people.

At the forum, a memorandum of understanding on cooperation in the sale and purchase of potassium chloride was inked between Lao Kaiyuan Mining Sole Co., Ltd. and PT. Gresik Cipta Sejahtera. The cooperation contract is estimated to be worth US$5.2 million per year.

Reporting by Yuni Arisandy
Editing by Libertina W Ambari