Singapore businesses eye potential growth opportunities in Laos

SINGAPORE: Singapore businesses are seeing potential growth opportunities in Laos - with several infrastructure projects underway or in the pipeline.
Laos' Minister of Planning and Investment Somdy Douangdy is in Singapore with a business delegation, seeking to establish closer ties with local businesses.
There are plans to build more infrastructural links between Laos and its neighbours Thailand and China.
And this is expected to provide more business opportunities for overseas firms.
Laos' GDP growth rate is expected to come in at an average of 8.6 per cent for the next two years.
There are currently 70 Singapore investment projects in Laos, totalling some S$220 million.
Dr Robert Yap, chairman and CEO of YCH Group, said: "We look at Laos as a land-linked opportunity. It is right in the middle where there are flows of goods from China to Vietnam border, all the way to Laos, Thailand, Malaysia and Singapore. But ASEAN is made up of many countries, so there might be lots of cross-border issues, in terms of goods flowing from one border to another."
Separately, Laos' Prime Minister Thongsing Thammavong officiated at the opening of an exhibition at the Asian Civilisations Museum on Thursday.
The exhibition - called "Handmade in Asia - Weaving the Cosmic Serpent in Laos" - features art using Laotian woven textiles.
It is a collaboration between Nanyang Technological University and the museum.
Singapore's Acting Minister for Culture, Community and Youth Lawrence Wong also attended the event.
Mr Thongsing is on an official visit to Singapore at the invitation of Prime Minister Lee Hsien Loong.
Earlier, he visited ITE College Central and Sentosa.
Mr Thongsing will also attend an official welcome ceremony held in his honour at the Istana on Friday, where he will meet President Tony Tan Keng Yam and Prime Minister Lee, who will host an official lunch in his honour. 

- CNA/de

credit to http://www.channelnewsasia.com/news/business/singapore/singapore-businesses-eye/1006810.html