American giant corporation Walmart thinking of moving into Laos


VIENTIANE, Oct 23: A delegation of Lao-Americans met with the Lao Overseas Affairs Department and the Lao National Chamber of Commerce and Industry (LNCCI) yesterday to discuss investment in Laos, reports Laotian Times.

Led by Lao-American businesswoman Supha Xayprasith-Mays, the delegation arrived in Laos to promote exchanges between the Lao diaspora in the United States and businesspeople in Laos.

Supha Xayprasith-Mays holds a senior position with Walmart, an American multinational retail corporation known for its chain of hypermarkets and grocery stores.

She met with Oudet Souvannavong, President of the LNCCI, to exchange ideas and discuss the potential for investment in Laos by American businesses.

Prominent Lao-American, Viengxay Wilaikul, President of Wilaikul International Gold Mine Co. Ltd, was also present at the meeting.

Supha Xayprasith-Mays declared her candidacy for governor in her state of Arkansas, United States, in April last year.

Increased Investment from United States

The United States has invested more than US$280 million in Laos through activities including construction, mining, financial and other services.

In the first six months of 2021, the value of trade between Laos and the United States reached USD 157.4 million, including USD 29.9 million in exports and USD 127.5 million in imports.

Products exported from Laos to the United States include bedding, cushions, lamps, footwear, clothing, pearls, gems, sports equipment, tobacco, electronics, and unprocessed coffee.

Meanwhile, Laos imports machinery and other products from the United States, as well as wood pulp, electrical equipment, food industry waste, vehicles and auto parts, mechanical equipment, iron and steel products, optical equipment, and plastics.

Article type: free
User access status:
Join our Telegram channel to get our Evening Alerts and breaking news highlights

Laos , US , Walmart , Hyper Market , Investment

   

Next In Aseanplus News

Indonesia lawmakers call for push to curb spread of foot and mouth disease among livestock in country
Former transport minister the clear winner as Bangkok votes in a new governor for first time in nine years
Philippines' Marcos in nuclear plant revival talks with South Korea
Ringgit ends unchanged versus US dollar
Vietnam's U-23 football men's and women's team golds at SEA Games will be one that will be cherished by whole country, says PM
Myanmar and China discuss electricity and energy development including cross-border power lines
Cambodia and Vietnam agree on major border line segments, announces Hun Sen
Laos and South Korea eye further business cooperation
Non-oil and gas sector grows 1.4 per cent in Brunei
Heavy rain lashes Myanmar - Low-lying areas in Myawaddy flooded as Thaungyin River swells

Others Also Read