Prince Al Waleed Bin Talal Bin Abdulaziz Al Saud and his wife, from the Kingdom of Saudi Arabia, paid a personal visit to Laos on Tuesday to investigate investment opportunities here.
The visit of the prince and his delegation was not only aimed at exploring new business possibilities but also at enhancing relations and cooperation between Laos and Saudi Arabia, particularly in economics and trade.
Following his arrival at Wattay International Airport in Vientiane yesterday, the prince and his delegation were warmly welcomed by Lao officials led by Minister to the Presidential Palace Phongsavat Boupha.
In the afternoon, the prince paid a visit to President Choummaly Sayasone at the Presidential Palace.
The president expressed his appreciation and warmly welcomed the prince to Laos. He also suggested that economic, trade and investment cooperation between Laos and Saudi Arabia be expanded, and Lao officials briefed the prince regarding the socio-economic development of Laos.
Mr Choummaly presented the prince with a medal of honour for his contribution to enhancing relations between Laos and Saudi Arabia.
On the same day, the prince visited Vice President Bounnhang Vorachit at the Don Chan Palace hotel where a dinner party was hosted for the entire Saudi Arabian delegation.
After his visit, the prince continued on to Chiang Mai, Thailand.
Laos and Saudi Arabia established diplomatic relations in 1990 and the relationship has developed strongly since then.
A Lao businesswoman is currently growing organic fruit and vegetables for export to the Middle East, including Saudi Arabia, early next year.
The Pakxong Export-Import Development Enterprise signed a contract with a Saudi Arabian buyer in March to export organic produce grown on the Bolaven Plateau in Pakxong district, Champassak province.