The remarks were made by Thongloun at the Lao-Thai Business Forum 2017 in the Lao capital of Vientiane with nearly 200 participants from the two countries, including businesspeople, officials from the Thai and Lao Chambers of Commerce and Industry and relevant ministries.
Business mechanisms must be quick, timely and transparent. Investment proposals must be passed through only a single window and projects must be open to inspection, the state-run Vientiane Times quoted the prime minister as saying.
Laos has potential in agriculture, especially livestock farming, fishery, and organic vegetable and rice cultivation, he added. There is now a high demand for Lao organic rice in the international market. In addition, there is strong potential for the generation of hydropower and growth of the tourism industry, Thongloun said.
The PM said the government will continue to improve the investment environment by maintaining political security and continuous and balanced growth of the macro-economy. He especially urged the public and private sectors to seek investment.
Thailand is Laos' main trading partner. Laos' major export products to Thailand are electricity, copper, vegetables, tobacco and minerals, while importing fuel, vehicles, electronic items and machinery.
During the forum, participants discussed cooperation in logistics, agriculture, border and consumer goods trade, tourism and health, real estate, stock market and financial institutions, energy and raw materials, and natural resources.