Laos to host ASEAN business, investment summit to boost regional economic integration

VIENTIANE — Laos will host the annual ASEAN Business and Investment Summit (ABIS) 2024 while chairing the Association of Southeast Asian Nations (ASEAN) in order to boost regional business and investment integration and networking with dialogue partners.

Representatives from the member states of the ASEAN and dialogue partners will participate in this summit, scheduled to take place in Lao capital Vientiane from October 8 to 11, Xinhua news agency said quoting a report in the local Pasaxon newspaper on Tuesday.

The ABIS 2024 will be a platform to discuss and formalise the landscape for regional business and investment integration amid challenges posed by global economic instability.

The summit will initially prioritise discussions for trade and investments in ASEAN, economic integration and logistics links within the grouping, digital transformation, and the ASEAN clean energy transition that is focussed on alternative energy from solar and wind power.

The ABIS 2024 is expected to strengthen economic ties, increase intra-ASEAN trade and investments, enhance public-private partnerships to address regional economic challenges and produce actionable insights for sustainable development and digital transformation within the bloc.

It is also expected to lead to a greater emphasis on the role of MSMEs, green economy, women and youth, and technological innovation in driving inclusive growth and bolstering food security, health resilience, and safeguards against health threats within ASEAN.