Laos and Australia deepen investment and development ties
Deputy Prime Minister and President of the Board of Investment, Saleumxay Kommasith, met Australian Ambassador to Laos, Megan Jones, on Tuesday (July 22) to discuss the growing commercial partnership, according to the Australian Embassy.
The meeting focused on opportunities under 'Invested: Australia's Southeast Asia Economic Strategy to 2040', which outlines key sectors for investment in Laos.
'Under Invested we have identified three key sectors as areas with the most opportunities for Australian investment: agriculture, green energy, and resources,' Ambassador Jones said.
Trade and investment between the two nations have seen solid progress in recent years, driven by long-term cooperation and new initiatives.
In June, the two governments launched the Laos-Australia Investment Facilitation and Transformation for Economic Resilience (LIFT 4 Laos) programme.
It is designed to help Laos attract high-quality foreign investment, boost sustainable growth, and improve resilience to economic shocks.
Australian businesses are already making a visible impact on the ground. In March, Australia's largest horticulture company, Costa Group, began developing a blueberry farm in Champasak province, which is expected to create more than 2,000 jobs.
Earlier this year, Sydney-based asset manager New Forests acquired a majority stake in Burapha Agro-Forestry. The company's focus on reforestation and carbon credit generation supports both environmental goals and local development.
In the logistics sector, Linfox signed a contract in 2024 with Carlsberg/Lao Brewery Company to transport products in Huaphan, Phongsaly and Vientiane provinces. This followed an earlier deal in July to provide forklifts to the company's warehouses.
Australia has also maintained a long-standing presence in the mining sector. Australian Laboratory Services, known for its geochemical testing expertise, is celebrating 30 years of operations in Laos this year.
Agriculture remains a strong pillar of cooperation, with the Australian Centre for International Agricultural Research supporting Laos for more than 35 years through research and capacity-building projects.
The Laos-Australia Sustainable Energy Partnership is also moving forward, with Phase 2 of the programme scheduled to begin in 2026.
Last year, Laos' Prime Minister Dr Sonexay Siphandone and the Prime Minister of Australia, Anthony Albanese, signed an agreement to elevate bilateral ties to a Comprehensive Partnership.
This agreement reflects growing cooperation in foreign policy, education, infrastructure, health, security, economics, and development.
Australia and Laos have shared diplomatic ties since the 1950s, building a relationship that both sides continue to value and strengthen.
During the meeting, Ambassador Jones congratulated Saleumxay on his new role, saying his leadership would play a key part in driving economic cooperation.
Looking ahead, AustCham Lao, the Australian Chamber of Commerce in Laos, will mark its 20th anniversary in 2025. It is the country's oldest foreign chamber and represents a broad network of businesses operating in Laos or trading with Australia. - Vientiane Times/ANN
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