LBF steering committee mulls business issues
LBF steering committee mulls business issues
The Lao Business Forum (LBF) Steering Committee met yesterday to discuss and summarise issues affecting businesses within the country before submitting these to next month's 10th LBF.
The LBF Steering Committee meeting was held yesterday in Vientiane, co-chaired by Minister of Industry and Commerce Ms Khemmani Pholsena and President of Lao National Chamber of Commerce and Industry, Mr Oudet Souvannavong.
Speaking at the meeting, Ms Khemmani said the LBF is a significant stage for discussions between the public and private sectors to improve the business operating environment, with an aim to promote growth in the business sector and boost its contribution to achieving the national development goals.
The meeting's specific objectives were to review progress of discussions relating to private sector operational issues, report outcomes of previous meetings to be considered and adopt issues for the agenda of the 10th LBF next month, she said.
The ministry has a role in setting plans and policy and we recognise that business operators are responsible for the success of their businesses, but government is responsible for business management regulations and the overall operating environment, Ms Khemmani said.
For this reason, the public sector has an important responsibility to build a favourable environment for business so they can compete in the domestic and international markets, she added.
Meanwhile, Mr Oudet said local businesses faced competition in the region and internationally based on factors such as production, market share, service, environmental friendliness, along with advanced technology and innovation.
This competition had become a challenge for the local business sector especially in the production, distribution and service sectors which needed to enhance their production capacity, skills, distribution of their products and also their service quality to meet market needs, he said.
Other obstacles for business included discordant implementation of regulations and laws, document procedures, procedures to access finance, and shortages of production raw materials and skilled labour, he added.
Every sector needed to find a way to solve these issues together to build strength within the business sector and increase the nation's overall competitive capacity, Mr Oudet said.
He highlighted the meeting as significant before the upcoming 10th LBF as it will give relevant departments and ministries an understanding of issues affecting business so they will be able to define methods and a timeframe to address them together.
