Entrepreneurs debate trends and opportunities in Asean
Entrepreneurs debate trends and opportunities in Asean
More than 100 entrepreneurs from Laos, European and regional countries met yesterday to debate trends and opportunities in the Asean market at the Vientiane Economic Forum in Vientiane.
The forum was co-chaired by Deputy Minister of Industry and Commerce, Mr Somchith Inthamith, Vice President of the Lao National Chamber of Commerce and Industry, Mr Thanongsinh Khanlagna, and President of the Europe Chamber of Commerce and Industry in Laos, Mr Guy Apovy.
The Vientiane Economic Forum is an essential business-focused event integrated into the Rendezvous de Vientiane which has a successful history as a major happening in Vientiane.
The conference on Business Transforming Trends in the AEC is the first of a planned series which we have labeled as the Vientiane Economic Forum.
The idea is to have a regular significant event in Vientiane which does not have its focus on Laos but takes a wider perspective, said Executive Director of the ECCIL, Dr Ramon Bruesseler.
Laos is increasingly integrated in the regional and world economies so for the development of its businesses it is important to be aware of what is going on beyond its borders.
These will be the trends and developments that have to be reckoned with if a company wants to be successful in the future and not only outperform foreign competitors in the domestic market but also be successful in foreign markets, too, he said
World trade has not fully recovered from the financial and economic crisis; China is changing its business model and in the rich countries parts of the population seem to be disenchanted by globalisation.
The United Kingdom has decided to leave the EU, possibly in form of a heard Brexit, and the new Trump administration in the US is determined to put America first.
The Transatlantic Trade and Investment Partnership (TTIP) and Trans-Pacific Partnership (TPP) are most likely off the agenda and the Doha round has more or less stalled.
Particularly in continental Southeast Asia we see an increasing Chinese influence, be it in the form of investment or through planned and ongoing infrastructure projects.
On the global level, digitalisation is becoming ever more important and new ways of doing business via platforms or through the sharing economy are challenging established ways of doing business.
All these factors mean that doing business as usual is probably not a good recipe for future success.
The Vientiane Economic Forum tries to shed light on some of these new trends and to inform the participants of upcoming changes that entrepreneurs might want to take into consideration when leading their business into the next decade, said Dr Ramon.
Mr Thanongsinh said today's challenges are not just the ever changing global economic landscape, global warming, an upcoming aging society even in Asean and so on.
The private sector will have to work together to use all its innovative and entrepreneurship capacity, the various resources including human, natural, and non-natural that the countries possess, to positively work on the opportunities lying ahead, and overcome the challenges, old and new, to reach its planned destination safe and sound.
Therefore today we have great resources speaking about the latest trends and topics such as trends and opportunities in Asean or the AEC; the latest developments in the banking sector, its trends and technologies; new strategies for transforming, and how to do business especially for SMEs; innovation in manufacturing, start-up trends in Laos and Asean; new forms of financing, venture capital; and innovation in the service industry and in technology, he said.
