The company says it aims to benefit the economy in multiple ways and to create jobs for Laotians.

A grand opening ceremony took place in Vientiane yesterday, attended by Visone Saysongkham, deputy director-general of the Bank of the Lao PDR’s financial institutions and supervision department, staff from RMA Lao Co, and officials from the Ministry of Industry and Commerce, as well as other representatives from the government and private sectors.

The Laotian representative office of RM Asia (HK) Ltd was established in Vientiane in 1994 to support engineering and infrastructure development projects such as road construction, communications, irrigation, power generation and mining, said the managing director of Devco Lao Leasing Co, Kevin Whitcraft, who is also the chief executive of RMA. Subsequently RMA Lao Co became a fully registered company in Laos, and now has more than 500 staff.

“Due to the successful expansion of the company and with support from the Lao government, Devco Lao Leasing Co Ltd is established as one of the members of RMA Asia Ltd to provide financing and operating leasing services to our customers from within our group business such as Lao Ford City, Jaguar, Land Rover, JCB and John Deere, and developing into other products in the future,” Whitcraft said.

On behalf of the government, particularly the Bank of the Lao PDR, Visone said he hoped the business operations of Devco Lao Leasing Co would help to drive the economy and create jobs.

He said he hoped the company’s business would develop smoothly and provide good services to society in full compliance with Laotian laws and regulations.