The 11th Lao Business Forum (LBF) has reported that there were 23 main problems that need to be solved as priorities. The problems are under sectors of Customs, facilitation on import and export, doing businesses, promote tourism sustainability, and other areas. There were 7 issues that have been solved, however, there are still remaining 16 problems that have been raised to the 12th LBF for further solutions and recommendations.

The 12th Lao Business Forum was held at the National Convention Hall, Vientiane, on November 12, 2019, with more than 500 participants from various sectors, such as the government, business, and international organizations. The forum was led by co-chaired, H.E. Mr. Somdy Douangdy, Deputy Prime Minister, H.E. Mme Khemmani Pholsena, Minister of Industry and Commerce and Mr. Oudet Souvannavong, President of the National Chamber of Commerce and Industry of Laos.

The Lao Business Forum aims to meet and listen to the report of previous progress of both the government and private sectors in which the significant problems were solved and which have been remained to be solved soon. According to the report of the 11th LBF in 2018, there were 23 problems that need to be solved as a priority which was under a sector of Customs, facilitation in import and export, doing businesses and promote tourism sustainability. Currently, 7 problems have been solved, however, there are 16 remaining issues that need to continue to discuss further solutions this year.

At the closing ceremony was honored by H.E. Thongloun Sisoulith, Prime Minister of the Lao PDR. The Prime Minister stated that the Lao Government has the highest commitment and effort to facilitate in doing business and the business environment. In the context of doing business, macroeconomic stability can be enhanced by improving the regulatory mechanisms of the public sector in various licensing procedures and improving the relevant regulations to be appropriated to the actual situation in a way that reduces the cost of doing business more comfortably, quickly and transparently.

Additionally, Prime Minister stressed that the socio-economic development of the Lao PDR is based on the preservation of traditional culture, environment, and sustainability of resources. Even though the development is in line with the President's Decree on the Conservation of National, Cultural, Historical and Natural Heritage No. 03 / MPs, the Decree will be amended in order to facilitate the business environment efficiently and effectively.

 

Source:

• Lao National Chamber of Commerce and Industry: https://lncci.la/lo/the-12th-lao-business-forum/

• Vientiane Times Newspaper on 13 November 2019, Headline page

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