KUALA LUMPUR – The presence of four major Malaysian banks in the Lao People’s Democratic Republic (Lao PDR) reflects strong investor confidence in the country’s political stability and attractive policies, particularly the way the central bank manages its financial institutions, said Prime Minister Datuk Seri Anwar Ibrahim.
Speaking at a joint press conference following a meeting with Lao Prime Minister, Sonexay Siphandone, who is on an official working visit to Malaysia, Anwar said the four banks are Malayan Banking Bhd, RHB Bank Bhd, CIMB Group and Public Bank Bhd.
He said the banks’ presence would certainly attract Malaysian companies’ interest in investing in Laos, Cambodia and Thailand.
Meanwhile, Anwar said Malaysia and Laos also discussed cooperation in training across various sectors, including port management.
He said that Penang Port, along with Port Klang and the Port of Tanjung Pelepas (PTP), would be ready to support more effective collaboration in training and the sharing of expertise.
Both leaders also discussed issues such as labour, digital, artificial intelligence, semiconductors, and alternative energy, including rare earths.
Additionally, both governments welcomed progress on the Memorandum of Collaboration between Keretapi Tanah Melayu Bhd, Lao National Railway State Enterprise, and State Railway of Thailand on the Asean Express train, which is expected to significantly reduce travel time across Asean countries and into China, he said.
Anwar said both he and Sonexay will attend the upcoming Asean meetings, followed by engagements with Gulf Cooperation Council (GCC) representatives and a bilateral session with Chinese Premier Li Qiang. – May 25, 2025