Lao PDR’s Public and Private Sector together with Development Partners discuss medium term priorities for the country’s Trade and Private Sector Development as well as highlight a range of specific issues affecting competitiveness of the private sector and ways to maximize opportunities from regional economic integration
Vientiane, 28 June 2017. The Ministry of Industry and Commerce held the 11th Trade and Private Sector Working Group meeting at Donchan Palace Hotel, Vientiane Capital. The semi-annual policy dialogue platform between the government and development partners was chaired by H.E. Mrs. Khemmani Pholsena, Minister of Industry and Commerce and co-chaired by H.E. Mr. Leo Faber, European Union’s Ambassador and H.E. Mr. Michael Grau, German Ambassador to Lao PDR with more than 100 participants from line ministries, development partners and private sector attended the meeting.
The meeting discussed medium term priorities for Trade and Private Sector Development in Lao PDR and plan to support implementation of the country’s sector development priorities. It also covered a wide range of specific issues affecting competitiveness of our private sector and how to maximize opportunities emerging from increasing integration with regional economy by presenting findings of two research projects were also covered including 1) Cross-Border Impacts of Thailand’s SEZs on Laos’ SEZs and Collaboration in the Midst of Regional Integration carried out by a national research team and 2) firm productivity and perception on investment climate constraints based on results of the latest Enterprise Survey conducted by the World Bank.
“Our country’s 8th National Social Economic Development Plan, National Development Strategy 2025, and Vision 2030 recognize the important role played by trade and private sector in creating jobs and reducing poverty. Our development strategy also identified private sector development, including promotion of micro-small and medium sized enterprise as engine for sustainable and inclusive growth” stated H.E. Mrs. Khemmani Pholsena. H.E. Mrs. Pholsena also shared that “one of the key lessons we learned over the past few years of developing market foundations in our country is that all successful businesses are set up and run by entrepreneurs, and a key government responsibility is to create an environment that facilitates the establishment and operation of businesses. Therefore, with strong support from development partners, we have made a lot of effort into developing policy and institutional framework to assist us better understand the obstacles constraining business operations, and the factors affecting their competitiveness”.
In her closing remarks, H.E. Minister of Industry of Commerce expressed her appreciation to H.E Ambassador Grau, who is completing service term in Lao PDR, for co-chairing the Trade Private Sector Working Group meetings in the past three years as well as extended her warm wishes for H.E Grau future endeavor. Finally, H.E Mrs. Pholsena ended the meeting by expressing her gratitude to all development partners for their support to trade and private sector development agenda in Laos and called all relevant agencies to take concrete actions to enhance competitiveness of Lao enterprises through reducing trading cost, policy uncertainty, and regulatory compliance cost for businesses.
The TPSWG is one of ten sector working groups under the Round Table Process and is the main forum for policy dialogue between the government of Lao PDR and development partners. Participants of the forum usually come from government, development partners, the private sector and civil society. Other 9 sector working groups include Health; Education; Governance; Macroeconomics; Infrastructure; Illicit Drug Control; UXO; Agriculture and Rural Development; and Natural Resource and Environmental Management.
For more information please contact:
TPSWG Team,
Department of Planning and Cooperation
Ministry of Industry and Commerce
Vientiane, Lao PDR
Tel/Fax: 021 453982
