SFST signs MOU on gold market co-operation with Ministry of Finance of Laos
The Secretary for Financial Services and the Treasury, Mr Christopher Hui, started his visit to Vientiane, Laos, today (July 20) and signed a Memorandum of Understanding (MOU) with the Ministry of Finance of Laos on fosteringco-operation ingold market and financial services between the two places.
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The Secretary for Financial Services and the Treasury, Mr Christopher Hui, started his visit to Vientiane, Laos, today (July 20). Photo shows Mr Hui (sixth left) posing with the Deputy Prime Minister and Minister of Finance of Laos, Mr Santiphab Phomvihane (sixth right); Deputy Governor of the Bank of the Lao PDR, Mr Soulysak Thamnuvong (fifth left); the Chief Executive Officer of Lao Bullion Bank and the Chairman and Founder of the PTL Holding, Mr Chanthone Sitthixay (fifth right); the Director of the Hong Kong Economic and Trade Office in Kuala Lumpur, Mr Owin Fung (fourth left); and other guests before the signing ceremony of the Memorandums of Understanding on fostering gold market co-operation. Source: HKSAR Government Press Releases
The Secretary for Financial Services and the Treasury, Mr Christopher Hui, started his visit to Vientiane, Laos, today (July 20). Photo shows the Deputy Prime Minister and Minister of Finance of Laos, Mr Santiphab Phomvihane (back row, third right), and Mr Hui (back row, third left) witnessing the signing of a Memorandum of Understanding in relation to gold market development between a representative of Lao Bullion Bank (front row, right) and a representative of MKS PAMP (front row, left), a renowned precious metals trader and refiner which has set up its third regional headquarters in Hong Kong. Source: HKSAR Government Press Releases
The Secretary for Financial Services and the Treasury, Mr Christopher Hui, started his visit to Vientiane, Laos, today (July 20). Photo shows the Deputy Prime Minister and Minister of Finance of Laos, Mr Santiphab Phomvihane (back row, third right), and Mr Hui (back row, third left) witnessing the signing of a Memorandum of Understanding in relation to gold market development between a representative of Lao Bullion Bank (front row, right) and a representative of MKS PAMP (front row, left), a renowned precious metals trader and refiner which has set up its third regional headquarters in Hong Kong. Source: HKSAR Government Press Releases
The Secretary for Financial Services and the Treasury, Mr Christopher Hui, started his visit to Vientiane, Laos, today (July 20) and signed a Memorandum of Understanding (MOU) with the Ministry of Finance of Laos on fostering co-operation in gold market and financial services between the two places. Photo shows Mr Hui (left) posing with the Deputy Prime Minister and Minister of Finance of Laos, Mr Santiphab Phomvihane (right), after signing the MOU. Source: HKSAR Government Press Releases
The Secretary for Financial Services and the Treasury, Mr Christopher Hui, started his visit to Vientiane, Laos, today (July 20). Photo shows the Deputy Prime Minister and Minister of Finance of Laos, Mr Santiphab Phomvihane (first right), and Mr Hui (second right) signing a Memorandum of Understanding on behalf of the Ministry of Finance of Laos and the Financial Services and the Treasury Bureau respectively, with the aim of strengthening bilateral co-operation in gold market and financial services industry development. Source: HKSAR Government Press Releases
The Secretary for Financial Services and the Treasury, Mr Christopher Hui, started his visit to Vientiane, Laos, today (July 20) and signed a Memorandum of Understanding with the Ministry of Finance of Laos on fostering co-operation in gold market and financial services between the two places. Photo shows Mr Hui speaking at the signing ceremony. Source: HKSAR Government Press Releases
The Secretary for Financial Services and the Treasury, Mr Christopher Hui (fifth left), visited Lao Bullion Bank (LBB) in Vientiane, Laos, today (July 20) and was pictured with the Chief Executive Officer of the LBB and Chairman and Founder of the PTL Holding, Mr Chanthone Sitthixay (sixth left), the Deputy Chief Executive Officer of LBB, Ms Souphaphone Souannavong (third left), and other LBB staff. Source: HKSAR Government Press Releases
The Secretary for Financial Services and the Treasury, Mr Christopher Hui (centre), learned about the gold testing facilities Lao Bullion Bank set up for customers during his visit there in Vientiane, Laos, today (July 20). Source: HKSAR Government Press Releases
The Secretary for Financial Services and the Treasury, Mr Christopher Hui (second right), tried out a gold vending machine during his visit to Lao Bullion Bank in Vientiane, Laos, today (July 20). Source: HKSAR Government Press Releases
The Secretary for Financial Services and the Treasury, Mr Christopher Hui, started his visit to Vientiane, Laos, today (July 20). Photo shows Mr Hui (fourth left) attending a lunch hosted by the Deputy Prime Minister and Minister of Finance of Laos, Mr Santiphab Phomvihane, during which he introduced Hong Kong’s latest financial developments and the opportunities they present to the President of the Lao Chinese Chamber of Commerce (LCCC), Mr Yao Bin (fourth right), and other LCCC members. Also present was the Director of the Hong Kong Economic and Trade Office in Kuala Lumpur, Mr Owin Fung (third right). Source: HKSAR Government Press Releases
The Secretary for Financial Services and the Treasury, Mr Christopher Hui, started his visit to Vientiane, Laos, today (July 20). Photo shows Mr Hui (left) meeting with the Deputy Prime Minister and Minister of Finance of Laos, Mr Santiphab Phomvihane (right). Source: HKSAR Government Press Releases
The Secretary for Financial Services and the Treasury, Mr Christopher Hui (centre), paid a courtesy call on the Minister Counsellor of the Chinese Embassy in Laos, Mr Wang Chang (third right), today (July 20) during his visit to Vientiane, Laos. They exchanged views on further opportunities for financial co-operation between Hong Kong and Laos. Next to Mr Hui is the Director of the Hong Kong Economic and Trade Office in Kuala Lumpur, Mr Owin Fung (third left). Source: HKSAR Government Press Releases
The Secretary for Financial Services and the Treasury, Mr Christopher Hui, started his visit to Vientiane, Laos, today (July 20) and visited the Laos-International Precious Metals Refinery (LIPMER). Photo shows Mr Hui (tenth left) and the Director of the Hong Kong Economic and Trade Office in Kuala Lumpur, Mr Owin Fung (twelfth left), posing with the Chief Executive Officer of the Lao Bullion Bank and the Chairman and Founder of the PTL Holding, Mr Chanthone Sitthixay (ninth left); the Managing Director of the LIPMER, Mr Pariya Nuanthasing (sixth left); and staff of the refinery after the tour. Source: HKSAR Government Press Releases
The Secretary for Financial Services and the Treasury, Mr Christopher Hui, started his visit to Vientiane, Laos, today (July 20) and visited the Laos-International Precious Metals Refinery (LIPMER). Photo shows Mr Hui (second left) touring the refinery’s gold refining facilities which apply advanced technologies and modern refining processes in the company of the Chief Executive Officer of the Lao Bullion Bank and the Chairman and Founder of the PTL Holding, Mr Chanthone Sitthixay (centre), and the Managing Director of the LIPMER, Mr Pariya Nuanthasing (first left). Next to them is the Director of the Hong Kong Economic and Trade Office in Kuala Lumpur, Mr Owin Fung (first right). Source: HKSAR Government Press Releases
The Secretary for Financial Services and the Treasury, Mr Christopher Hui, started his visit to Vientiane, Laos, today (July 20) and visited the Laos-International Precious Metals Refinery (LIPMER). Photo shows Mr Hui (second right) meeting the Chief Executive Officer of the Lao Bullion Bank and the Chairman and Founder of the PTL Holding, Mr Chanthone Sitthixay (second left), and the Managing Director of the LIPMER, Mr Pariya Nuanthasing (first left), to exchange views on gold-related financial services. The Director of the Hong Kong Economic and Trade Office in Kuala Lumpur, Mr Owin Fung (third right), also attended. Source: HKSAR Government Press Releases
The Secretary for Financial Services and the Treasury, Mr Christopher Hui, started his visit to Vientiane, Laos, today (July 20). Photo shows Mr Hui (sixth left) with the Minister of Industry and Commerce of Laos, Mr Malaithong Kommasith (sixth right), after their meeting. Also present was the Director of the Hong Kong Economic and Trade Office in Kuala Lumpur, Mr Owin Fung (fifth left). Source: HKSAR Government Press Releases
The Secretary for Financial Services and the Treasury, Mr Christopher Hui, started his visit to Vientiane, Laos, today (July 20). Photo shows Mr Hui (left) meeting with the Minister of Industry and Commerce of Laos, Mr Malaithong Kommasith (right), to welcome Lao companies to leverage Hong Kong's role as a major capital formation centre to raise fund. Source: HKSAR Government Press Releases
The MOU was signed by the Deputy Prime Minister and Minister of Finance of Laos, Mr Santiphab Phomvihane, and Mr Hui on behalf of the Ministry of Finance of Laos and the Financial Services and the Treasury Bureau. Aiming to strengthen bilateral co-operation in gold market and financial services industry development, the MOU outlines clear areas of collaboration, including promoting physical gold flows by facilitating access for qualified Lao gold owners to Hong Kong's accredited refining network, encouraging the wider use of refined gold bars meeting international standards for trading and delivery in Hong Kong, and fostering talent development and fintech collaboration including tokenisation solutions.
At the same ceremony, Mr Hui also witnessed the signing of another MOU in relation to gold market development between Lao Bullion Bank (LBB) andMKS PAMP, arenowned precious metals trader and refiner which has set up its third regional headquarters in Hong Kong.
Mr Hui said, "Earlier this month, Hong Kong's new central gold clearing and settlement system commenced trial operation, and we have announced a comprehensive package of targeted initiatives to support our gold market development. These steps closely align with our country's 15th Five-Year Plan and will support Hong Kong in building and enhancing our commodity trading ecosystem. Our MOU with the Lao Ministry of Finance on fostering gold market co-operation perfectly complements these developments. It represents our shared commitment to strengthen communication and knowledge exchange in financial services, with a particular focus on gold market development. Through this partnership, we will work together to realise a seamless, efficient, and trusted gold corridor that benefits producers, refiners, traders, and investors in both economies."
He also highlighted that today's signing of MOUs with Laos at both the government and stakeholder levels showcased Hong Kong's determination to build a comprehensive and internationally competitive gold trading ecosystem that can well serve the Asian time zone. By combining Laos' natural gold endowment with Hong Kong's world-class infrastructure, expertise, and international connectivity, the two places can transform resources into investable, transparent assets that drive sustainable economic growth for both markets.
Before the signing ceremony, Mr Hui had a meeting with Mr Phomvihane. He noted that amid an increasingly uncertain global economic landscape, Hong Kong is deeply committed to maintaining close ties and deepening co-operation with Belt and Road partners, including Laos. By opening up new frontiers of collaboration as in gold market development, Hong Kong will continue to demonstrate its unique role as both a "super connector" and a "super value-adder" to achieve mutual benefits and win-win outcomes. He also expressed his gratitude to the Lao government delegation for having constructive and fruitful negotiations with Hong Kong on a Comprehensive Avoidance of Double Taxation Agreement (CDTA). He looks forward to the early signing of the CDTA with Laos so as to bring greater tax certainty to the business communities of both places in pursuing cross-border economic activities.
While attending a lunch hosted by Mr Phomvihane, Mr Hui met with the President of the Lao Chinese Chamber of Commerce, Mr Yao Bin, and shared with him Hong Kong's latest financial developments and the opportunities they present.
In the afternoon, Mr Hui had a meeting with the Minister of Industry and Commerce of Laos, Mr Malaithong Kommasith, whom he previously met during his 2023 visit to Laos. Noting that there has been exciting progress in financial co-operation, Mr Hui welcomed Lao companies to leverage Hong Kong's role as a major capital formation centre to raise fund, and Lao banks to utilise Hong Kong for Renminbi (RMB) trade settlement and other RMB-related financial transactions, thus facilitating Laos' trade with the Chinese Mainland.
To get a better grasp of Laos' precious metals ecosystem, Mr Hui visited the LBB and the Laos-International Precious Metals Refinery (LIPMER). At the LBB, he toured its vault infrastructure and was introduced to its gold-related financial services. At the LIPMER, Mr Hui was given a tour of the refinery's gold refining facilities which apply advanced technologies and modern refining processes.
He said that by strengthening infrastructure, enhancing cross-border connectivity, and delivering policy support across the entire industry chain, Hong Kong is exceptionally well positioned to develop into a leading global hub for gold trading, clearing and vaulting.
Before concluding his visit to Laos, Mr Hui attended a dinner hosted by the Chief Executive Officer of the LBB and the Chairman and Founder of the PTL Holding, Mr Chanthone Sitthixay. The PTL Holding is the investment holding company which collaborated with the Lao Government to set up the LBB and the LIPMER.
During the day, Mr Hui paid a courtesy call on the Minister Counsellor of the Chinese Embassy in Laos, Mr Wang Chang, and exchanged views with him on further opportunities for financial co-operation between Hong Kong and Laos.
Mr Hui will proceed to Kuala Lumpur, Malaysia, tomorrow (July 21).
The Secretary for Financial Services and the Treasury, Mr Christopher Hui, started his visit to Vientiane, Laos, today (July 20). Photo shows Mr Hui (sixth left) posing with the Deputy Prime Minister and Minister of Finance of Laos, Mr Santiphab Phomvihane (sixth right); Deputy Governor of the Bank of the Lao PDR, Mr Soulysak Thamnuvong (fifth left); the Chief Executive Officer of Lao Bullion Bank and the Chairman and Founder of the PTL Holding, Mr Chanthone Sitthixay (fifth right); the Director of the Hong Kong Economic and Trade Office in Kuala Lumpur, Mr Owin Fung (fourth left); and other guests before the signing ceremony of the Memorandums of Understanding on fostering gold market co-operation. Source: HKSAR Government Press Releases
The Secretary for Financial Services and the Treasury, Mr Christopher Hui, started his visit to Vientiane, Laos, today (July 20). Photo shows the Deputy Prime Minister and Minister of Finance of Laos, Mr Santiphab Phomvihane (back row, third right), and Mr Hui (back row, third left) witnessing the signing of a Memorandum of Understanding in relation to gold market development between a representative of Lao Bullion Bank (front row, right) and a representative of MKS PAMP (front row, left), a renowned precious metals trader and refiner which has set up its third regional headquarters in Hong Kong. Source: HKSAR Government Press Releases
The Secretary for Financial Services and the Treasury, Mr Christopher Hui, started his visit to Vientiane, Laos, today (July 20). Photo shows the Deputy Prime Minister and Minister of Finance of Laos, Mr Santiphab Phomvihane (back row, third right), and Mr Hui (back row, third left) witnessing the signing of a Memorandum of Understanding in relation to gold market development between a representative of Lao Bullion Bank (front row, right) and a representative of MKS PAMP (front row, left), a renowned precious metals trader and refiner which has set up its third regional headquarters in Hong Kong. Source: HKSAR Government Press Releases
The Secretary for Financial Services and the Treasury, Mr Christopher Hui, started his visit to Vientiane, Laos, today (July 20) and signed a Memorandum of Understanding (MOU) with the Ministry of Finance of Laos on fostering co-operation in gold market and financial services between the two places. Photo shows Mr Hui (left) posing with the Deputy Prime Minister and Minister of Finance of Laos, Mr Santiphab Phomvihane (right), after signing the MOU. Source: HKSAR Government Press Releases
The Secretary for Financial Services and the Treasury, Mr Christopher Hui, started his visit to Vientiane, Laos, today (July 20). Photo shows the Deputy Prime Minister and Minister of Finance of Laos, Mr Santiphab Phomvihane (first right), and Mr Hui (second right) signing a Memorandum of Understanding on behalf of the Ministry of Finance of Laos and the Financial Services and the Treasury Bureau respectively, with the aim of strengthening bilateral co-operation in gold market and financial services industry development. Source: HKSAR Government Press Releases
The Secretary for Financial Services and the Treasury, Mr Christopher Hui, started his visit to Vientiane, Laos, today (July 20) and signed a Memorandum of Understanding with the Ministry of Finance of Laos on fostering co-operation in gold market and financial services between the two places. Photo shows Mr Hui speaking at the signing ceremony. Source: HKSAR Government Press Releases
The Secretary for Financial Services and the Treasury, Mr Christopher Hui (fifth left), visited Lao Bullion Bank (LBB) in Vientiane, Laos, today (July 20) and was pictured with the Chief Executive Officer of the LBB and Chairman and Founder of the PTL Holding, Mr Chanthone Sitthixay (sixth left), the Deputy Chief Executive Officer of LBB, Ms Souphaphone Souannavong (third left), and other LBB staff. Source: HKSAR Government Press Releases
The Secretary for Financial Services and the Treasury, Mr Christopher Hui (centre), learned about the gold testing facilities Lao Bullion Bank set up for customers during his visit there in Vientiane, Laos, today (July 20). Source: HKSAR Government Press Releases
The Secretary for Financial Services and the Treasury, Mr Christopher Hui (second right), tried out a gold vending machine during his visit to Lao Bullion Bank in Vientiane, Laos, today (July 20). Source: HKSAR Government Press Releases
The Secretary for Financial Services and the Treasury, Mr Christopher Hui, started his visit to Vientiane, Laos, today (July 20). Photo shows Mr Hui (fourth left) attending a lunch hosted by the Deputy Prime Minister and Minister of Finance of Laos, Mr Santiphab Phomvihane, during which he introduced Hong Kong’s latest financial developments and the opportunities they present to the President of the Lao Chinese Chamber of Commerce (LCCC), Mr Yao Bin (fourth right), and other LCCC members. Also present was the Director of the Hong Kong Economic and Trade Office in Kuala Lumpur, Mr Owin Fung (third right). Source: HKSAR Government Press Releases
The Secretary for Financial Services and the Treasury, Mr Christopher Hui, started his visit to Vientiane, Laos, today (July 20). Photo shows Mr Hui (left) meeting with the Deputy Prime Minister and Minister of Finance of Laos, Mr Santiphab Phomvihane (right). Source: HKSAR Government Press Releases
The Secretary for Financial Services and the Treasury, Mr Christopher Hui (centre), paid a courtesy call on the Minister Counsellor of the Chinese Embassy in Laos, Mr Wang Chang (third right), today (July 20) during his visit to Vientiane, Laos. They exchanged views on further opportunities for financial co-operation between Hong Kong and Laos. Next to Mr Hui is the Director of the Hong Kong Economic and Trade Office in Kuala Lumpur, Mr Owin Fung (third left). Source: HKSAR Government Press Releases
The Secretary for Financial Services and the Treasury, Mr Christopher Hui, started his visit to Vientiane, Laos, today (July 20) and visited the Laos-International Precious Metals Refinery (LIPMER). Photo shows Mr Hui (tenth left) and the Director of the Hong Kong Economic and Trade Office in Kuala Lumpur, Mr Owin Fung (twelfth left), posing with the Chief Executive Officer of the Lao Bullion Bank and the Chairman and Founder of the PTL Holding, Mr Chanthone Sitthixay (ninth left); the Managing Director of the LIPMER, Mr Pariya Nuanthasing (sixth left); and staff of the refinery after the tour. Source: HKSAR Government Press Releases
The Secretary for Financial Services and the Treasury, Mr Christopher Hui, started his visit to Vientiane, Laos, today (July 20) and visited the Laos-International Precious Metals Refinery (LIPMER). Photo shows Mr Hui (second left) touring the refinery’s gold refining facilities which apply advanced technologies and modern refining processes in the company of the Chief Executive Officer of the Lao Bullion Bank and the Chairman and Founder of the PTL Holding, Mr Chanthone Sitthixay (centre), and the Managing Director of the LIPMER, Mr Pariya Nuanthasing (first left). Next to them is the Director of the Hong Kong Economic and Trade Office in Kuala Lumpur, Mr Owin Fung (first right). Source: HKSAR Government Press Releases
The Secretary for Financial Services and the Treasury, Mr Christopher Hui, started his visit to Vientiane, Laos, today (July 20) and visited the Laos-International Precious Metals Refinery (LIPMER). Photo shows Mr Hui (second right) meeting the Chief Executive Officer of the Lao Bullion Bank and the Chairman and Founder of the PTL Holding, Mr Chanthone Sitthixay (second left), and the Managing Director of the LIPMER, Mr Pariya Nuanthasing (first left), to exchange views on gold-related financial services. The Director of the Hong Kong Economic and Trade Office in Kuala Lumpur, Mr Owin Fung (third right), also attended. Source: HKSAR Government Press Releases
The Secretary for Financial Services and the Treasury, Mr Christopher Hui, started his visit to Vientiane, Laos, today (July 20). Photo shows Mr Hui (sixth left) with the Minister of Industry and Commerce of Laos, Mr Malaithong Kommasith (sixth right), after their meeting. Also present was the Director of the Hong Kong Economic and Trade Office in Kuala Lumpur, Mr Owin Fung (fifth left). Source: HKSAR Government Press Releases
The Secretary for Financial Services and the Treasury, Mr Christopher Hui, started his visit to Vientiane, Laos, today (July 20). Photo shows Mr Hui (left) meeting with the Minister of Industry and Commerce of Laos, Mr Malaithong Kommasith (right), to welcome Lao companies to leverage Hong Kong's role as a major capital formation centre to raise fund. Source: HKSAR Government Press Releases
