Businesspeople urged to upgrade English skills ahead of AEC
Businesspeople urged to upgrade English skills ahead of AEC
Lao business people must study and improve their English otherwise they will face difficulties to gain benefits from Asean economic integration, according to a senior official from the Ministry of Industry and Commerce.
Speaking at a media workshop at the Lao Press in Foreign Languages last week, SME Promotion and Development Office Director General Mr Somdy Inmixai said one of the most important things which Lao businesspeople must do before the establishment of the Asean Economic Community is to improve their English language skills.
The publisher of Vientiane Times invited the policy makers to provide local journalists with knowledge on government policy in regards to the promotion of goods production, trade and investment as part of efforts to improve the reports of the journalists.
Mr Somdy said poor English literacy will be one of the major obstacles for Lao business people when it comes to communicating and doing business with foreign partners; therefore it is necessary for them to study English as the language is the lingua franca of official and business communication throughout the region.
“You need to know at least English because the language is a key, which can help you to do business with foreign partners,” he said.
He also said that English illiteracy will prevent Lao business people from obtaining new knowledge on business, trade and investment in the region.
Another problem which Lao business people must address is to improve their business management to meet international standards otherwise they will face difficulties working with foreign partners who have good business discipline.
The Lao government hopes that the establishment of the AEC will encourage foreign investors to join hands with Lao partners so as they can to improve their business and make greater profits.
To this end, the government recently announced that it will allow private sector interests to hold shares in some state enterprises, so as they can obtain new knowledge and technology to run their businesses more effectively.
Mr Somdy said that one of the fields which Laos has potential to open for investment and cooperation is agribusinesses. For example, it aims to produce organic coffee for export after learning that the country has plenty of suitable land.
Many countries in Asean face comparative disadvantages when it comes to growing organic coffee for export due to shortages of fertile land, he said, adding that the government should encourage people to produce goods in which the country has potential, and focus on goods which other foreign countries do not produce.
“If we produce goods which other countries do not produce, we do not have to face strong business competition,” he said. “We should not try to produce goods which other countries produce as we will not be able to face competition.”
Mr Somdy also said that improving production capacity was also one of the keys which Lao businesspeople must address, adding that they need to import mode.
vientiane times
