Mitihoon – Mr. Soulivath Souvannachoumkham, Deputy Minister of Finance of the Lao PDR and Chairman of Banque Pour Le Commerce Exterieur Lao Public (BCEL), joined the ceremony to witness the signing of the financial facility agreement between Export-Import Bank of Thailand (EXIM Thailand) by Mr. Bundit Sapianchai, Director and Acting President of EXIM Thailand, BCEL by Mrs. Saysamone Chanthachack, Managing Director and Betagro (Lao) Feedmill Co., Ltd. by Mr. Surachet Tongboonlorm, Vice President of Betagro Group – Laos & Myanmar (Country Heads) in Vientiane of Lao PDR on July 8, 2025.
Under the agreement, Lao kip (LAK)-denominated financial support will be provided by BCEL for Betagro (Lao) Feedmill Co., Ltd.’s investment expansion in Lao PDR, with a Standby Letter of Credit (SBLC) issued by EXIM Thailand as collateral. This financial support marks the first pilot project under the Memorandum of Understanding (MOU) on cooperation between BCEL and EXIM Thailand aimed at promoting LAK utilization in Lao PDR and supporting Thai entrepreneurs’ investments using LAK as the primary currency for business operations and working capital. The initiative seeks to encourage the use of the kip within the Lao economic system, mitigate foreign exchange risks for clients, and strengthen the international trade and investment supply chain between Thailand and Lao PDR, thereby enhancing competitiveness in global markets. The project is expected to benefit all relevant stakeholders and promote business operations that take Environmental, Social, and Governance (ESG) factors into account, contributing to sustainable development in the Greater Mekong Subregion, ASEAN, and globally.
Lao PDR is a strategically important trade counterpart of Thailand, performing as a “Land Link” between Thailand, China and Vietnam, particularly along the route of the bridge across the Mekong River. Lao PDR offers numerous incentives to attract foreign investors, such as low labor cost, tax and investment privileges in Special Economic Zones (SEZs), and international trade privileges. At present, Thailand ranks second, following China, in value of investment in Lao PDR, mainly in energy, agriculture, livestock, tourism, and service sectors.
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