Lao silversmiths learn about the benefits of business clusters
Lao silversmiths learn about the benefits of business clusters
Small and medium d jewellers and silversmiths have learnt about the advantages of establishing clusters and export consortia so that they will able to compete on regional and international markets.
A two-day national workshop entitled the ‘Establishment of Silver Products Cluster and Export Consortia' was held yesterday at the Economic Research Institute for Trade, chaired by Deputy Director General of the Small and Medium Enterprise (SME) Promotion Department, Mr Soutchai Sisouvong.
This workshop will help SME operators in Laos realise and understand the general situation and importance of the establishment of silver products clusters and export consortia.
Henceforth, SME operators will know and understand the SMEs situation in regards to economic development and comprehend the fact they are an important factor in the development and growth of the economies of Asean member countries, according to Mr Soutchai.
“We've successfully established clusters of silk, handicraft, wooden furniture and organic rice in the past and this year we assembled silversmiths and jewellers to explain the benefits of clusters,” he said.
Mr Soutchai explained that SMEs have played an important role in national economic growth, creating jobs and generating income for domestic labourers.
Besides that, SMEs account for about 90 percent of the business sector and between 50-80 percent of the labour force within Asean countries. They generate income accounting for 30-53 percent of GDP and generate 19-31 percent of income for export.
SMEs are like the backbone of Asean economies and integral in achieving long run and sustainable economic growth, he stressed.
Mr Soutchai observed that although the Asean economies have grown impressively, gaps between the prosperity and growth of other Asean members have increased among Laos, Vietnam, Cambodia and Myanmar.
Those countries have faced challenges including a shortage of knowledgeable and skilled state officials and supporting systems in the development and conduct of trade and investment policy.
They lack industry groups and facilities to service and add value for SMEs to enable them to access regional and international markets, he added.
Mr Soutchai said it's necessary to build the capacity of SMEs in the region as well as Laos to ensure that they will be able to complete in terms of technique and type of products offered.
He stressed that it was important to establish incentives for them so that they could run their businesses in the long term and export more products to regional and international markets.
Therefore, the department in collaboration with the Thailand-based Mekong Institute conducted this workshop to help SME operators establish and develop a silversmith cluster to enable them to export more silver products and integrate with regional and international markets.
vientiane times
