Latest news with #Laos-AustraliaInvestmentFacilitationandTransformationforEconomicResilience
The Star
a day ago
- Business
- The Star
Laos and Australia deepen investment and development ties
VIENTIANE: Laos and Australia are stepping up efforts and reaffirming their commitment to boost trade, investment, and sustainable development, with several Australian companies already having a strong presence in Laos. 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
Barnama
a day ago
- Business
- Barnama
Top News Headlines In Cambodia, Indonesia. Laos, Myanmar, Singapore, Thailand & Vietnam: July 23, 2025
The ASEAN Regional Mine Action Centre and the Azerbaijan National Agency for Mine Action are strengthening inter-regional cooperation in mine clearance. The partnership will assist in sharing knowledge on post-conflict challenges, especially mine clearance operations. The 20th Asia Media Summit kicked off in Siem Reap on Tuesday, attended by delegates from 37 countries. Held under the theme 'Celebrating Two Decades of Excellence and Beyond', the summit's focus is on the rise and threat of fake news. GRAFT VERDICT SEEN AS SETTING BAD PRECEDENT -- THE JAKARTA POST The verdict in the corruption case of former trade minister Thomas Lembong has stoked concerns among legal experts, who have questioned the ruling's legal basis and warned it could set a dangerous precedent for silencing opposition figures. CUTS 1,000 FINANCE MINISTRY JOBS AMID DRIVE FOR LEANER BUDGET -- JAKARTA GLOBE Finance Minister Sri Mulyani Indrawati said Tuesday that nearly 1,000 civil servants at the Finance Ministry have been laid off as part of the government's broader efforts to streamline spending and boost efficiency. LAOS AIMING ROBUST BILATERAL TRADE -- VIENTIANE TIMES Laos and Australia are working to improve their existing bilateral trade ties by attracting high-quality investments to develop Loa' economy. Both governments launched the Laos-Australia Investment Facilitation and Transformation for Economic Resilience programme last month. TO NURTURE YOUNG LAO FOOTBALLERS -- VIENTIANE TIMES Asia's premier international youth football tournament SingaCup, will continue to collaborate with the Lao Football Federation to develop the sport at the grassroots level. The partnership aims to expand international exposure and nurture emerging young talents. MYANMAR ORIGINAL ETHNIC COSTUMES -- THE GLOBAL NEW LIGHT OF MYANMAR The Ministry of Religious Affairs and Culture will conduct a survey on Myanmar's ethnic groups' traditional clothing to determine the appropriate national costumes. The survey will assist in removing misconceptions about ethnic costumes and identify their origins. 2. ASEAN FORUM TO PROTECT FISHERIES SECTOR -- THE GLOBAL NEW LIGHT OF MYANMAR Myanmar is hosting the 17th ASEAN Fisheries Consultative Forum and the 33rd ASEAN Fisheries Working Group Meeting from July 22 to 25. Fishing zoning, sustainable small-scale fisheries, fish stock recovery and the impact of climate change will be discussed. SINGAPORE DIGITAL BANKS FINDING THEIR NICHE IN AREAS LIKE SMES AS THEY NARROW LOSSES IN 2024 -- THE STRAITS TIMES Singapore's three digital banks serving retail customers – Trust Bank, GXS Bank and MariBank – appear on track to turn the corner more than two years after they started operations. ANNOUNCES TRADE DEAL WITH JAPAN, INCLUDING 15% TARIFF -- CNA/AGENCIES US President Donald Trump on Tuesday (Jul 22) announced a trade deal with Japan that he said will result in Japan investing US$550 billion into the United States and paying a 15 per cent reciprocal tariff. THAILAND 1. EMERGENCY ALERT SYSTEM ON STANDBY AS STORM WIPHA NEARS THAILAND -- THE NATION DDPM says it is fully prepared to issue emergency alerts for areas forecast to be affected by tropical storm Wipha. 2. VISA HELP FOR LABOUR 'IN LIMBO' -- BANGKOK POST The cabinet on Tuesday approved a six-month extension for Cambodian migrant workers employed in border provinces. VIETNAM SECTOR FACES STRONG HEADWIND -- VIETNAMPLUS Vietnam's postal and delivery sector is experiencing impressive growth but profits are slim due to the presence of both international and local players. Total volume of postal items reached about 1.8 billion in the first half of this year. PLAN TO IMPROVE WOMEN'S HEALTH -- VIETNAMPLUS The Ministry of Health and Roche Vietnam are teaming up to improve women's health. The ministry plans to develop a national action plan to improve screening, diagnosis, treatment and management of breast and cervical cancer. -- BERNAMA BERNAMA provides up-to-date authentic and comprehensive news and information which are disseminated via BERNAMA Wires; BERNAMA TV on Astro 502, unifi TV 631 and MYTV 121 channels and BERNAMA Radio on FM93.9 (Klang Valley), FM107.5 (Johor Bahru), FM107.9 (Kota Kinabalu) and FM100.9 (Kuching) frequencies. Follow us on social media : Facebook : @bernamaofficial, @bernamatv, @bernamaradio Twitter : @ @BernamaTV, @bernamaradio Instagram : @bernamaofficial, @bernamatvofficial, @bernamaradioofficial TikTok : @bernamaofficial
The Star
27-06-2025
- Business
- The Star
Australia provides funds to boost investment, economic cooperation with Laos
Government officials, representatives from the Australian Embassy, and the United Nations Economic and Social Commission for Asia and the Pacific gathered after the launch of the LIFT 4 Laos programme in Vientiane on Tuesday. - Photo: Vientiane Times/ANN VIENTIANE: The Government of Australia has provided more than AUD2.1 million through the Mekong-Australia Partnership initiative to enhance Laos' investment climate, foster sustainable growth, and deepen regional cooperation. The Lao government, Australia, and the United Nations Economic and Social Commission for Asia and the Pacific (ESCAP) on Tuesday (June 24) launched the Laos-Australia Investment Facilitation and Transformation for Economic Resilience (LIFT 4 Laos) programme. The initiative aims to strengthen Laos' capacity to attract high-quality foreign direct investment, promote sustainable economic development, increase resilience to external shocks, and enhance regional cooperation. Building on longstanding collaboration between ESCAP, the Australian Embassy in Laos, and the Investment Promotion Department, LIFT 4 Laos will deliver a comprehensive approach that combines institutional capacity building, development of concrete investment promotion tools and investment-ready projects, establishment of effective systems for investor targeting and facilitation, and strengthened integration of Laos into Asean's investment networks and value chains. Head of Office at the Ministry of Foreign Affairs, Bovonethat Douangchak, said 'Today, we celebrate not just the launch of a programme, but the deepening of a vital partnership between Laos and our esteemed development partner Australia through the Department of Foreign Affairs and Trade, and ESCAP.' 'This collaboration is a clear indication of our shared vision and commitment to unlocking Laos' vast economic potential for green growth and sustainability.' Chargé d'Affaires at the Australian Embassy in Laos, Benita Sommerville, said 'Australia is proud of our enduring partnership with Laos. A key pillar of our partnership is economic, trade and investment cooperation. I am pleased Australia can further deepen our partnership in economic development through this new partnership, supported by Australia through the Mekong-Australia Partnership, with the Investment Promotion Department.' 'Attracting high-quality investment is critical to Laos' sustainable growth, bringing in technology, skills and standards that lift productivity and create long-term jobs. It helps diversify the economy and ensures that development benefits communities, not just company balance sheets.' 'LIFT 4 Laos builds on a portfolio of collaboration between ESCAP and the Government of Laos, including the development and implementation of the Asean Regional Investment Promotion Action Plan, as well as the successful organisation of the Asean Investment Forum 2024 also funded by Australia, which took place in Vientiane during Laos' Asean chairmanship, Sommerville said. The LIFT 4 Lao initiative will deliver targeted capacity building, institutional system development, and stronger regional integration. - Vientiane Times/ANN
