From Kenny Teng Khoon Hock
VIENTIANE, Oct 7 (Bernama) --The ASEAN Investment Forum (AIF) 2024 in Laos is aimed at enhancing ASEAN as a prime investment destination and forging connections with investors and global economies.
One of the key highlights of AIF 2024 was the launch of the ASEAN Regional Investment Action Plan (2025-2030).
“The ASEAN Regional Investment Action Plan is a landmark initiative aimed at positioning ASEAN as a unified investment destination,” said Laos Deputy Prime Minister and Minister of Foreign Affairs, Saleumxay Kommasith in a statement today.
The plan outlines a strategic blueprint to guide ASEAN in attracting investments, promoting sustainable development, and further integrating ASEAN as a single investment destination under the ASEAN Comprehensive Investment Agreement and the ASEAN Economic Community Blueprint 2025.
Meanwhile, Saleumxay underscored the importance of foreign direct investment (FDI) in advancing Laos’ national development, particularly in sectors such as renewable energy, infrastructure, and digital transformation.
“Laos has attracted significant foreign investment in hydropower, solar, and wind energy projects, which contribute to the region’s clean energy goals,” he said.
The AIF 2024 was organised in collaboration with the Ministry of Planning and Investment of Laos, the ASEAN Business Advisory Council, the ASEAN Secretariat, and the United Nations Economic and Social Commission for Asia and the Pacific (ESCAP).
With Laos chairing ASEAN in 2024, under the overarching theme of “Investment for Enhancing Connectivity and Resilience”, the forum plays a pivotal role in advancing ASEAN’s economic integration objectives.
Laos had previously held the ASEAN chair in 2016 and 2004, and will officially pass the chairmanship of ASEAN to Malaysia on October 11.
As Laos prepares to host the 44th and 45th ASEAN Summits and Related Summits from October 8 to 11, global leaders and delegates are expected to convene for high-level meetings.
Among them, Malaysia’s Prime Minister Datuk Seri Anwar Ibrahim is set to deliver a significant address, highlighting Malaysia’s perspectives and priorities within the ASEAN framework.
-- BERNAMA
