Lao leasing sector learns from international experience
Lao leasing sector learns from international experience
The Lao leasing sector looks forward to exchanging experiences with international experts as well as drafting a leasing decree in preparation for the arrival of regional and international leasing firms.
The Department of Financial Institution Supervision at the Bank of the Lao PDR (BoL) teamed up with the International Finance Corporation (IFC) Laos to organise a seminar on the Lao leasing sector in Vientiane yesterday.
The bank department's Deputy Director General, Ms Keasorn Manivong, said that legalisation for leasing companies is very important to ensure the businesses are successfully operated.
“We are gathering today to learn about the challenges, obstacles and key factors to operate the leasing business successfully from internationally experienced guests,” she said.
She urged the participants to pay attention and learn from invited speakers and also asked the speakers to provide as much accurate information as possible, to ensure the participants were able to adapt that useful background to the practical aspects of leasing operation.
A key speaker at the seminar was IFC's international leasing practitioner, Mr Fritz Peter, who shared hi s experiences with seminar participants on how to begin a leasing association, benefits, structure, mission and roles.
Representatives participating at the seminar were from line ministries, the Government Office, People's Supreme Court, Vientiane Administration Office and various district offices around Vientiane.
Ms Keasorn, who chaired the seminar, also updated participants on the current status of the draft of the Lao Leasing Decree.
“We hope that our participants will gain benefits from this important information, especially the leasing operators themselves. They should be able to adapt various important lessons from international experts into practical implementation for their leasing companies,” Ms Keasorn said.
IFC East Asia Pacific Access to Finance Regional Programme Manager, Ms Rachel Freeman, also talked about the key success factors to operating a leasing company, challenges and other related issues to the leasing entities.
vientiane times
