Keonakhone Xaysouliane (second left) and Sangyong Ma (second right) sign a Memorandum of Understanding in Vientiane on Aug 23. - VT
VIENTIANE: The Department of Digital Technology of the Ministry of Technology and Communications has entered into an agreement with Laos FOB LAB Co, Ltd to carry out a feasibility study on the proposed Laos Digital Park and associated services.
A Memorandum of Understanding to kick off the study was signed in Vientiane on Friday (Aug 23) between the director general of the Department of Digital Technology, Keonakhone Xaysouliane, and the President of Laos FOB LAB Co, Ltd, Sangyong Ma.
The signing was witnessed by the Acting Head of Office at the Ministry of Technology and Communications, Phouangpaseut Keosouvanh, and the President of Real World Asset Inc, Keo-oudone Keovongsa.
The signing ceremony was attended by the Minister of Technology and Communications, ProfDr Boviengkham Vongdara; Deputy Ministers Dr Santisouk Simmalavong and Xaylusa Insisiengmay; other officials, employees, and company representatives.
Officials and guests gather for a group photo at the MoU signing.
The partnership has been formed under the National Digital Economic Development Plan to 2025, the National Digital Economic Development Strategy to 2030, and the National Digital Economic Development Vision to 2040, the Director of the Digital Information Centre, Mr Pasithideth Louangvilay, said.
The project is being supported by the government of the Republic of Korea with the aim of creating a digital complex in Laos that will be a digital centre and digital industrial and commercial zone.
The Laos Digital Park will be set up to encourage foreign digital technology companies to invest in Laos and turn the country into a digital producer and service source within the region and beyond, Pasithideth said.
The project developers will create the necessary facilities, and improve and develop essential infrastructure to support technology-related businesses.
The project began in 2022 and has so far organised training courses to improve the digital skills of government staff, business operators and students, as well as arranging seminars, study tours and exchange programmes in other countries. Lao business operators have also participated in a digital technology exhibition, Pasithideth said.
Sangyong said “We are committed to working closely with the Lao government to ensure that this country leads the digital transformation process and stands out on the global stage.”
This project is not just a technological leap but is an important opportunity to bring positive changes to the entire economy and society of Laos, he added.
“The Laos Digital Park will serve not merely as a technological hub, but as a central pillar for the economic growth and international standing of Laos.”
These achievements will not only elevate Laos’ international stature but also lead to the stable accumulation of foreign exchange reserves, Sangyong said.
This will contribute to positioning Laos as a central player in the digital economy and in the long term will provide a solid foundation for a strong national economy, he added. - Vientiane Times/ANN
