Local enterprises need help to boost export production
Local enterprises need help to boost export production
Small and medium-d enterprises (SMEs) have asked the Promotion and Product Development Department of the Ministry of Industry of Commerce for help to improve export production quantities and standards.
A representative of small medium-d enterprises, who asked not to be named, said there is currently strong demand in the Chinese market for Lao organic products especially following last year's China-Asean Expo.
Some customers have placed large orders and asked to be overseas distributors, but Lao entrepreneurs can't supply enough product.
As a result, customers were turning their interest to other countries who could supply similar products.
However, several Lao firms such as Beerlao and Dao Coffee have generated good customer orders following their attendance at overseas industry exhibitions.
It's rather different for smaller scale agriculture and handicrafts which still rely heavily on domestic dis tribution which makes its a challenge to move into overseas markets.
The representative said the Ministry of Industry of Comme rce was endeavouring to seek out overseas markets for entrepreneurs, but businesses had to undertake both market research and work at improving production quantities in response to customers' requirements.
Laos is surrounded by five foreign markets, with China especially representing enormous potential for local exporters.
Local firms are also requesting support for better access to capital, modern technology and tools to use in production and packaging.
“Most importantly, the PPDD should increase funding to hold exhibitions and Expos in the country. This would make it easier for local entrepreneurs to have more opportunities to promote their products, expand cooperation and build a network among international partners,” he added.
According to a recent report to the National Assembly, the industry and handicrafts sector was set to grow annually at slightly less than services and make up 29.5 percent of GDP with the Agriculture sector growing at the lowest rate of 3.1 percent.
