Public-private sector airs challenges ahead of LBF
Public-private sector airs challenges ahead of LBF
A Public-Private Consultative Meeting held yesterday in Vientiane raised issues and shortcomings that can be addressed in the lead up to the Lao Business Forum (LBF) next month.
During the meeting Director of the Planning and Cooperation Department, Mr Sirisamphan Vorachit, said that enterprises could share their business issues to be passed on to the Forum which would seek further resolution.
Mr Sirisamphan said business competition in the region was continuing to increase in areas such as production, market share, services, and new innovation in environmental conservation.
This would be a challenge for Lao enterprises, especially in the sectors of production, distribution, and services which would face stiffer competition.
A representative of local enterprises, Mr Saman Aneka, encouraged the business sector to raise important issues they wanted to be discussed at the upcoming Forum to improve the nation's competitiveness in the region.
Mr Saman said other obstacles for Lao businesses should b e aired at the Forum such as legal issues, sourcing finance, and the lack of raw materials and labour.
These should be debated to seek solutions to the problems and help Lao enterprises to boost economic development.
The Lao Young Enterprises Association reported recently that Laos still only had a small percentage of enterprises compared to its population.
However, the number has grown from 208 in 2010 to 500 this year.
This showed that Lao enterprises still have opportunities for growth and are able to compete within the region if they strive for continuous improvement and offer high quality products and services.
In particular, Lao enterprises should work together to expand their production base which would give them a good footing to compete in the region.
