Financial Economist · Entrepreneur · Public Leader

Building Lao enterprise with a researcher's discipline and an operator's drive.

I’m Sounay Phothisane. I founded AQQOUNT and Emerging Digital Solutions, and I serve on the Management Board of the LNCCI SME Service Center and as an Elected Representative of the Lao Front for National Development.

Latest appointment · Oct 2026

Sounay Phothisane

13+

years founding and leading companies

2

companies founded: AQQOUNT and EDS

5

national and association leadership roles

40+

business leaders in the BNI CEO Chapter

Serving with

What I do

Three ways I help Lao business grow

Each part of my work feeds the others: research sharpens my advice, my companies test it in practice, and public roles carry the lessons into policy.

01

Business

Founder and Managing Director of AQQOUNT, a one-stop business setup firm, and Emerging Digital Solutions, a digital transformation company.

02

Leadership

Five national and association roles shaping SME policy, “Made in Laos” brands, young entrepreneurs and business networks.

03

Research & teaching

MSc Financial Economics from Kobe University (MEXT scholar). Published work on liquidity and asset pricing in emerging markets.

Leadership & public service

Current roles

Oct 2026
Management Board Member
Apr 2026
Elected Representative
Jun 2025
Executive Committee
Apr 2025
Executive Committee
Sep 2025 – Sep 2026
President

Ventures

Companies I founded and lead

Managing Director · since 2013

AQQOUNT

Investment and consulting firm that helps local and foreign investors start in Laos: company registration, accounting, legal support, staffing, office space and market-entry advice.

Company registration · Accounting · Legal · Market entry

Managing Director · since 2015

Emerging Digital Solutions

Digital transformation company that designs websites, platforms and systems so Lao SMEs and institutions can work faster and reach more customers.

Websites · Platforms · Digital marketing · SME systems

Research

Liquidity, asset pricing and emerging markets

My research tests how well standard finance models explain returns in markets like Thailand and Laos, where trading is thin and information is scarce.

2012
Journal article
Suppa-Aim, T., & Phothisane, S. (2012). Stock returns and liquidity premium in an emerging market. Journal of International Finance Studies, 12(4). ISSN 1945-2950.
Using Thai stock data from 1991 to 2010 and three liquidity measures, the paper finds a liquidity premium in returns. A four-factor model with size, value and liquidity explains returns better than the CAPM.
2015
Thesis
Phothisane, S. (2015). Measuring liquidity in emerging markets: The empirical evidence from emerging markets [Master’s thesis, Kobe University].
Compares liquidity measures across emerging stock markets.
2010
Thesis
Phothisane, S. (2010). Tactical asset allocation with return generating model: The alpha strategy [Master’s thesis, Mahidol University International College].
Tests four portfolio strategies built from positive-alpha securities. Mean-Variance outperformed Single Index, CAPM and Three-Factor models.

Journey

From business student to national SME leader

2004

BBA, Mahasarakham University

International Business, Thailand.

2010

MBA, Mahidol University

Business Modeling and Analysis.

2013

Founded AQQOUNT

And began the MSc at Kobe University as a MEXT scholar.

2015

Founded EDS

Digital transformation for Lao SMEs.

2026

National roles

LFND Elected Representative and LNCCI SME Service Center board.

Speaking

Invite me to speak

I speak on investing in Laos, SME finance, digital transformation and youth entrepreneurship. Past programs include the U.S. State Department’s IVLP, the World Bank’s Open Data workshop in Bangkok and the ON|OFF Conference in Jakarta.

Sounay Phothisane teaching

Let's build something for Laos together.

Partnerships, investment, advisory or a speaking invitation. I reply within two working days.