SCCI, Laos Chamber signs MoU to boost trade and investment

The Sharjah Chamber of Commerce and Industry (SCCI) discussed ways to strengthen economic relations and establish sustainable partnerships between the business communities of Sharjah and the Lao People’s Democratic Republic (Lao PDR).

The discussions focused on promoting bilateral trade and investment flows and expanding them into new avenues that serve the shared economic interests of both markets. Held at the Sharjah Chamber’s headquarters, the meeting was attended by Abdallah Sultan Al Owais, Chairman of SCCI, and Saleumxay Kommasith, Deputy Prime Minister of the Lao People’s Democratic Republic, along with his accompanying delegation.

Also present were Oudet Souvannavong, President of Lao National Chamber of Commerce and Industry (LNCCI), Abdul Aziz Al Shamsi, Assistant Director-General for Communication and Business Sector at SCCI, and representatives from the business and private sectors of both Sharjah and Laos.

During the meeting, both sides highlighted the importance of exploring investment opportunities and establishing direct communication channels between the business communities of Sharjah and Laos to increase collaboration across sectors of mutual interest. Sharjah offers promising opportunities in industry, logistics, trade, tourism, education, and the new economy, while Laos boasts significant economic potential in agriculture, energy, mining, tourism, and manufacturing industries.

The meeting witnessed the signing of a Memorandum of Understanding (MoU) between SCCI and LNCCI, designed to strengthen bilateral trade relations and facilitate economic cooperation between the business communities of both countries.

The MoU outlines mechanisms for information exchange to drive investment and economic growth, as well as the coordination of trade delegations and joint missions, and the dissemination of commercial publications via digital platforms. It also covers the promotion of investment opportunities, capacity-building and knowledge transfer, and the enhancement of participation in exhibitions, seminars, business forums, and sector-specific conferences held in both countries.

In his remarks, Abdallah Sultan Al Owais said that the Sharjah Chamber, guided by its strategic vision, is committed to supporting Sharjah’s efforts to diversify its economic partnerships and enhance its global trade and investment footprint, especially with friendly countries that offer strong economic potential.

He added that Sharjah offers an attractive and investor-friendly business environment, supported by advanced infrastructure, flexible regulatory frameworks, and specialised free zones, in addition to a geographic strategic location connecting regional and global markets.

For his part, Saleumxay Kommasith conveyed his gratitude for the cordial reception and praised the Sharjah Chamber’s pivotal role in supporting the private sector and facilitating the business environment. He further underscored Laos’ commitment to strengthening economic and investment cooperation with the Emirate of Sharjah.

Following the official meeting, one-on-one business meetings took place between entrepreneurs from both sides, showcasing potential areas of cooperation in key sectors, including food security and agricultural manufacturing, leveraging Laos’ natural resources and fertile agricultural lands.