Lao Chamber of Commerce mulls future strategy
Lao Chamber of Commerce mulls future strategy
Lao National Chamber of Commerce and Industry (LNCCI) members met in Vientiane yesterday to discuss strategy development for the business sector until 2030.
LNCCI Retreat 2015: Strategy Development in view of the upcoming Asean Economic Community (AEC) took place yesterday, chaired by the Chamber's President, Mr Sisavath Thilavong.
In his opening remarks, Mr Sisavath said the LNCCI adopted its strategic plan in 2009. The initiative of the executive board of directors aims to strengthen the LNCCI, provincial Chambers of Commerce and Industry (PCCI), business associations and other groups in Laos.
So far, the LNCCI and PCCIs have attracted 3,000 companies with at least 50 million kip in working capital to join their chambers.
However, both the national and provincial chambers have encountered difficulties in attracting members in the past.
In particular, they were unable to respond to and offer services to their members while the role of the chamber in coordinating with the government was limited, Mr Sisavath said.
The Eighth Five-Year National Socio-economic Development Plan (2016-2020) states that domestic and foreign investors have contributed to economic growth equivalent to 55-57 percent.
The meeting sought to review the LNCCI's strategic plan from 2009 and review achievements and challenges in the past.
In addition, it aimed to develop short-term and long-term strategic plans until 2030 and to ensure it will be a part of the AEC, especially the short-term strategic plan for 2016-2020 and the long-term strategic plan for 2016-2030.
The LNCCI informs its members about AEC integration by disseminating essential information and providing relevant services.
For instance, the Chamber has developed the ability of the business sector to be competitive by strengthening productivity and improving products.
Now the LNCCI needs to create a vision along with the short-term and long-term strategies to develop the private sector until 2030 in order to provide services for AEC integration and the long-term development of the private sector, Mr Sisavath said.
