Chinese company explores business opportunities in Laos
VIENTIANE (Vientiane Times/ANN) - A food and beverage company from China - Hainan Pinxiang Foodstuff Company Limited – is hoping to expand its market to Laos, initially focusing on Vientiane.
The company showcased some of its wares at the Economic and Technological Exhibition for Lancang-Mekong Cooperation 2019 which opened in Vientiane earlier this week.
A representative of Hainan Pinxiang Foodstuff told Vientiane Times the company is based in Hainan province, China. “We produce food and beverages sourced from local fruits and this is the first time our company has come to Laos. We have exhibited products in Cambodia two times already,” he said.
“As we want to expand our market overseas, especially in Asean countries, Laos is an interesting market for us. This country has a similar food culture and we think our products will be liked by the locals.”
Some local companies made business inquiries and discussed future cooperation. However, no formal contracts were signed with any local company.
“We are on the lookout for representatives in Laos. We want to sell our products to local dealers here,” he added.
If the products do well in the local market, they may consider setting up a factory in Laos. Since the weather conditions are more or less similar they can grow the same fruits and other ingredients in Laos.
The Economic and Technological Exhibition for Lancang-Mekong is a cooperation between five countries in the Mekong basin - Laos, China, Thailand, Myanmar and Cambodia.
Various products, technological equipment, mostly imported from China, were on display at the exhibition. The event aimed to increase cooperation between China and other countries in the region.
The exhibition has been held annually since 2016.