President Pratibha Devisingh Patil has called upon the Indian business community to promote business in an integrated manner with Southeast Asia. Addressing India-Laos Business Forum meeting in Vientiane in Laos today , the President asked them to explore markets as there is greater scope for private investments in Hydropower, mining, construction, infrastructure, Railways, and agriculture. Stating that the present bilateral business between India and Laos is below 7 million dollars she said there is a need to increase the volume of business so that trade reaches its true potential. This could be done by availing mutually advantageous opportunities that both the countries offer. She called upon the delegation to acquaint with Laos economy as Laos has simplified its procedures and regulations including relating to Foreign Direct Investments. Laos Commerce and Industry minister Dr Nam Viyaket also attended the meeting while over 200 businessmen from India, Vietnam, Thailand, Singapore and Laos and representatives from CII, FICCI, and ASSOCHAM attended. India and Laos have also signed an agreement of line of credits to a tune of 72.55Million dollars for different projects in Laos. Laos Minister of Finance Some Dey Douangly and Executive Director of Exim Bank Prabhakar Dalal have signed the agreement in the presence of Presidents of two countries.Later, before leaving for Cambodia on the second leg of her two-nation tour, the President was accorded a ceremonial farewell at the Presidential palace in Vientiane.
News On AIR | September 13, 2010 1:52 PM
Prez calls Indian Businessmen to promote business in Southeast Asia