The Ministry of Finance of the Lao People's Democratic Republic and the Financial Services and the Treasury Bureau of the Hong Kong Special Administrative Region have signed a Memorandum of Understanding (MoU) on promoting bilateral financial cooperation and supporting the long-term development of the precious metals industry between the Lao PDR and Hong Kong.
The MoU was signed on behalf of the Ministry of Finance by H.E. Santiphab Phomvihane, Deputy Prime Minister and Minister of Finance of the Lao PDR, and on behalf of the Financial Services and the Treasury Bureau by H.E. Christopher Hui, Secretary for Financial Services and the Treasury of the Government of the Hong Kong Special Administrative Region of the People's Republic of China.
This government-to-government (G2G) MoU establishes a framework for cooperation in financial services and precious metals market development, encompassing the strengthening of market linkages, the facilitation of cross-border gold market activities, the promotion of professional exchange and innovation, the enhancement of regulatory cooperation, and the support of an environment conducive to sustainable industry growth — with the aim of fostering a modern, transparent, and internationally connected precious metals ecosystem.
In alignment with the government-to-government cooperation policy, an MoU was also signed between the Lao Bullion Bank (LBB) and MKS PAMP (Hong Kong), marking the beginning of translating the government's vision into practice through commercial cooperation at the Hong Kong and international levels. The MoU was signed by Dr. Chanthamone Sithisay, Chief Executive Officer of the Lao Bullion Bank and Chairman and Founder of PTL Holding, and Mr. Damien Han, Head of Sales for the Asia-Pacific region at MKS PAMP (Hong Kong), with H.E. Santiphab Phomvihane and H.E. Christopher Hui serving as witnesses.
This partnership has established a working framework to explore cooperation in precious metals trading, refining, and distribution, as well as technical collaboration and knowledge exchange, while also supporting cooperation opportunities with the Laos-International Precious Metals Refinery (LIPMER). The cooperation aims to enhance Laos's integration into international precious metals markets and support the development of the country's gold industry from upstream to downstream.
