04 Oct 2023
Governance, Policy & Institutional Strengthening
Posted04 Oct 2023
Land Equity International (LEI) are pleased to announce the formal signing of the Memorandum of Agreement (MoA) with the Department of International Cooperation (DIC) and the Investment Promotion Department (IPD) of the Ministry of Planning and Investment to implement the Transformative Land Investment (TLI) project in Lao PDR, Tuesday 3rd October, 2023.
This Agreement signifies the importance of government’s endorsement towards responsible investments in Lao PDR. The TLI project team are providing significant technical support to pursue transformations in social inclusion, environmental stewardship, governance and societal principles for land-based investments. Transformations are necessary across all actors, through the enabling environment and particularly in the business practice space, and therefore, a multi-pronged approach is adopted. This will draw on regional and international standards, active investor partnerships, policy and legislative influencing and community-based capacity building.
The activities of the TLI project operate in close alignment with the ASEAN-RAI principles that are regularly discussed and agreed as important principle for Lao PDR. TLI is a technical assistance (TA) project and has been consulting with MPI-IPD as key department to co-implement and facilitate TLI activities in consultation with additional sector ministries such as the Ministry of Agriculture and Forestry. IPD see TLI as being instrumental for supporting further investment project monitoring and evaluation to ensure good quality investment projects. In particularly this may be through the Risk Reward Model tool development that TLI is preparing, along with an initiative to establish a Business Transformation Lab focused on supporting investors in their transformation of practices according to TLI principles which are closely aligned with the ASEAN Responsible Agricultural Investment Guidelines. IPD are already invested this promotion of RAI and recently co-hosted the multistakeholder dialogue platform and other existing platforms that are supported by projects and organisations such as MRLG project, LIWG, and SAEDA.
Land Equity International are co-implementing the TLI project in Lao PDR with RECOFTC, under the global guidance of CIFOR. The TLI project is also implemented in Myanmar, Ethiopia, Ghana and Mozambique with RECOFTC, ICRAF and SNV partners. The project implementation period of the first phase extends until June 2025.
The signing ceremony was attended by:
DIC, MPI: Mr. Vilakone, Technical Official, DIC.
IPD, MPI: Ms. Thavychanh Tiengthepvongsa, DDG, Mr. Sayphet Thuninart, Director of Investment Cooperation Division, Ms. Phouvone Thammavong, Deputy Director of Investment Cooperation Division, Mr. Huengsavanh Sengkhamngong, Deputy Director of Investment Cooperation Division, Mr. Phothilath Sikhotchounlamalee, Director of Project Monitoring Division, Dr. Souphaphone Sayngalert, Director of Investment Promotion Division, Mr. Korlakhan Luanglath, Deputy Director of PPP Division, Ms. Bounmexay Thipsomphanh, Deputy Director One Stop Service Division, Mr. Phoumeung, Deputy Director of Contract Monitoring Division.
TLI project: Dr Kate Rickersey, Dr Thiphavong Boupha, Dr Robert Cole and Bounyadeth Phouangmala (RECOFTC)
Lao PDR, Myanmar
In spirit of reconciliation, Land Equity International acknowledges the Traditional Custodians of country throughout Australia and their connections to land, sea, and community. We pay respects to their Elders past and present and extend that respect to all Aboriginal and Torres Strait Islander people.