Korea-Lao Green Growth Partnership 2022 was held on 1st December 2022 at Crowne Plaza Vientiane. It is co-hosted by the Ministry of Trade, Industry and Energy of the Republic of Korea (MOTIE), the Ministry of Planning and Investment of the Lao People’s Democratic Republic (MPI), and organized by Korea Trade-Investment Promotion Agency (KOTRA).
The event consists of the Korea-Lao green growth forum, one-on-one business meetings, and a MOU ceremony. It is meaningful in that it is the very first Green Growth Partnership event between Lao PDR and the Republic of Korea since the establishment of the Presidential Commission on Carbon Neutrality and Green Growth in October 2022. The aim is to initiate bilateral cooperation in the field of reducing greenhouse gas (GHG) emissions by exchanging national policies and strategies and by co-developing green growth projects at G2G and B2B levels.
Mr. Kim Do Hun, Director General of GHG Reduction Team of MOTIE; Mr. Kim Jong Won, Director General of Green Growth Department, KOTRA; other officers and 8 representatives of Korean private companies travelled to participate in the Green Growth Partnership 2022 in Hanoi, Vietnam on 29 November 2022 and Vientiane Capital, Lao PDR on 1 December 2022.
At the Korea-Lao Green Growth Forum, H.E. Mrs. Phonevanh Outhavong, Vice Minister of the MPI, delivered keynote speech to facilitate both countries collaboration in the green growth industry; she highlighted that “Lao PDR is an ideal location to pursue green growth development, the Lao government is targeting to become carbon neutral by 2050. To do so, we wish to expand partnership with Korean companies”. Then, Mr. Oula Somchanmavong, Deputy Director General of Department of Planning, MPI shared the Lao National green growth strategy 2030 with the Korean government and private companies.
Also, Mr. Chantho Milattanapheng, Director General of Department of Energy Efficiency and Promotion, Ministry of Energy and Mines of the Lao PDR (MOEM); Ph.D. Thoumthone Vongvisouk, Director of REDD+ Division, Department of Forestry, Ministry of Agriculture and Forestry of Lao PDR (MAF); Ms. Souphany Heuangkeo, Deputy Director of Land Passenger Transport Division, Department of Transport, Ministry of Public Works and Transport of Lao PDR (MPWPT); and other speakers presented the Lao government’s climate change initiatives in multiple segments, including renewable energy and smart transport projects to achieve carbon neutrality. Furthermore, Mr. Kim Do Hun delivered Korea national strategies and policies for carbon neutrality; he mentioned that “Lao PDR is one of 18 target countries to sign Climate Change Cooperation Framework Agreement with the Republic of Korea. Vietnam and the Philippines have already signed up the Climate Change Cooperation Agreement in response to climate change”. Then, Mr. Kim Jong Won of KOTRA and Mr. Choi Seok-jai, Center Manager of CDM Certificate Center of the Korea Energy Agency shared future plans for supporting cross-border green growth investment projects to reduce carbon emission.
Moreover, Mr. Rowan Fraser, Country Representative of Global Green Growth Institute Laos updated the current trends of green businesses and prospective projects; whereas, 2 Korean companies suggested carbon reduction business models, such as EV recycling businesses, and forestry and livestock carbon reduction farming base.
After the forum, there was a MOU ceremony between Thavysub Energy Engineering and Consulting Co., Ltd. and ESG Partners to jointly collaborate, evaluate and explore potential joint investment, green growth project opportunities in Laos.
On the same date and venue, there was the “Green Growth Business Plaza” for having individual meetings between Lao and Korean companies, which attained 46 meetings in total. KEPCO KPS, SK Ecoplant and ESG Partners were here to identify renewable energy development projects. Akenol Korea Renewables, BKT, and Goodbyecar had diverse meetings to co-work with Lao companies in sewage treatment and EV recycling. EGIS and Greengoods also have meetings to discuss their partnership with Lao companies to pursue green growth.
Earlier on 16 September 2022, MOTIE has announced a new initiative to facilitate international green growth gas reduction led by private companies, KOTRA and Kora Energy Agency have been designated as dedicated government agencies to contribute to addressing emission reduction by supporting cross border investments and projects in green businesses.
Mr. Kim Pil Seong, Director General of KOTRA Vientiane stated that “our office will initiate the 2022/2023 Knowledge Sharing Program (KSP) titled Establishing Master Plan for Implementing Carbon Trading System in Lao PDR in order to study the Carbon trading mechanism between two nations. Also, we will co-work with the GGGI even more in order to encourage green business collaboration between Lao and Korean companies, so as to reduce greenhouse gas emission in Laos”.