The Ministry of Industry and Commerce convenes the 3rd Project Review Committee (PRC) meeting of the USAID Laos Business Environment Project

Vientiane, December 1, 2021. The Ministry of Industry and Commerce (MoIC) convened the third Project Review Committee Meeting of the USAID Laos Business Environment Project at the Crowne Plaza Hotel.

H.E. Bountheung Douangsavanh, Deputy Minister of the MoIC, and Mr. Michael Ronning, the USAID Country Representative to Laos, co-chaired the meeting. Participants – both in-person and virtual – included the project’s key technical government focal points, project counterparts, and development partners.

The principal objectives of the meeting were to review and assess the results of project implementation during the January – December 2021 timeframe as well as present and discuss the project workplan for 2022.

During his opening remarks, H.E. Bountheung Doungsavanh, Deputy Minister of the MoIC, noted that “one of the Lao Government’s top priorities is the promotion of continuous, inclusive, and sustainable growth. SMEs represent the overwhelming majority of Lao businesses, but they account for only 20% of the country’s GDP. Accordingly, there is an urgent need to focus on initiatives that provide more tangible results and benefits to SMEs so that they can increase their contribution to GDP. The Laos Business Environment Project is very well-positioned to provide this type of practical support.”

The Laos Business Environment Project Year 3 workplan was presented by the project’s Technical Focal Points, namely the Department of SMEs Promotion (DOSMEP) for Component 1; the Lao National Chamber of Commerce and Industry (LNCCI) for Component 2; and the Department of Foreign Trade and Promotion (DFTP) for Component 3.

In his remarks, Mr. Michael Ronning, the USAID Country Representative to Laos, stated that “USAID regards the Laos Business Environment Project as the US Government’s principal tool to support economic recovery and resiliency for Lao PDR in the wake of COVID19. USAID is committed to supporting Lao PDR to address the economic impacts of COVID-19 and build back better beyond the pandemic.”

In 2021, the LBE Project successfully achieved the following:
-An online digital skills platform known as SMART UP for SMEs in which hundreds of SMEs have already enrolled.

• Launch of the $500,000 Laos Business Ecosystem Partnership Fund (LBEPF). This fund will facilitate innovative partnerships among a wide range of market actors providing services to SMEs, including industry/trade associations, business service providers, vocational institutions and cooperatives.
• Successful collaboration with the Lao National Chamber of Commerce and Industry (LNCCI) and the Champasak Chamber of Commerce and Industry (CCCI) to implement the public-private dialogue program in Champasak.
• The Policy Watch Application, which officially launched on November 30. This mobile app will amplify the policy advocacy work of the LNCCI as well as the national and provincial level public private dialogue mechanisms. The ultimate goal of Policy Watch is to become the preferred business information platform for local SMEs.
• Technical support to the Ministry of Justice in drafting decrees on the private mediation office, and arbitrators’ fees. It also supported the Ministry of Information, Culture, and Tourism in developing the decree on the creation of the tourism promotion board.

The USAID Laos Business Environment Project assists the Government of Laos to enhance the competitiveness of small and medium-sized enterprises while strengthening the business environment in Laos.