Business plan competition boosts young enterprises
Business plan competition boosts young enterprises
A business plan to develop the skills within young enterprises in Laos is underway, aiming to help them integrate and compete in the new economic region.
The National University of Laos (NUOL) in cooperation with relevant sectors and international organisations such as the Japanese International Cooperation Agency (JICA) plan to help young Lao enterprises develop and expand.
The fifth business forum on ‘Business Plan Competition – An Approach to Enhancing Young Enterprise Capacity in Laos' was held in Vientiane on Wednesday.
The forum was attended by business policymakers, entrepreneurs, business students and technical staff from different banks and financial institutes.
At the forum, participants were able to gain a better understanding of creating a competitive business plan from several Lao and Japanese experts.
This is a good opportunity for those responsible for running young enterprises to exchange experiences with one another and also learn about business plans and how to easily access finance and investment.
NUOL Vice Pres ident Assoc Prof. Dr Phetsamone Khounsavath said that with the cooperation and assistance from JICA it had helped the government with human resource development, especially at universities.
The development was also a great contribution to the socio-economic development of the country and Laos' integration with regional countries, as well as internationally.
JICA Laos Office representative Mr Tsuneo Heito said that the project would increase the capability of young business enterprises in Laos to compete with other Asean member countries.
At the forum, participants were also given the chance to go into a draw to win a study tour.
There are still many enterprises in Laos that lack experience and do not have a good business plan or outlook for their business.
The main issue is competing with Asean member countries and, in order to prepare for the integration into the Asean Economic Commu nity in 2015, it is necessary to increase the capacity of young Lao business enterprises.
vientiane times
