Representatives of MOIC, LNCCI reviewed the implementation progress of matching grant scheme – Business Assistance Facility (BAF II) and explore concrete measures to increase provincial outreach

Vientiane Capital, 31 March 2022, Ministry of Industry and Commerce (MOIC) through its Department of Planning and Cooperation (DPC) organized the 7th Business Assistance Facility (BAF II) Task Force Meeting at Crown Plaza Hotel, Vientiane Capital.

The meeting was honorably chaired by Mr. Senngphanomchone Inthasane, Deputy Director General of the Department of Planning and Cooperation, Ministry of Industry and Commerce with participation from the BAF II Task Force Members who represented the Department of Small and Medium Enterprise Promotion (DOSMEP), the Department of Industry and Handicraft (DOIH), the Department of the Trade Promotion (DTP), the Lao National Chamber of Commerce and Industry (LNCCI) and BAF II operational team members joined this meeting.

The primary objectives of this meeting were to update on the operational progress of BAF II matching grants scheme and implementation challenges and discuss priorities for 2022 and beyond.

Mr. Sengphanomchone Inthasane, opened the meeting by welcoming all BAF II Task Force Members and introduced the new members from the DOSMEP and DOIH who were newly appointed to the task force. Apart from informing the meeting on the main objectives of this meeting, Mr. Chair also provided BAF II background information.

To date BAF II conducted more than 1,400 advisory sessions to MSMEs in Laos. More than 250 matching grant agreements to co-finance specific business development services have been signed, out of which about 160 businesses have completed implementation of targeted activities to support their business growth strategies and have received grant from the matching grant fund administered by the National Implementation Unit as executing agency for the Lao Competitiveness and Trade Project.

The meeting had extensive discussions on strategy to increase provincial outreach of BAF II. It was agreed that provincial level chamber of Commerce and Industry as well as provincial offices of Industry and Commerce will be leveraged to disseminate both advisory services as well as matching grant to potential businesses operating in all provinces of the country.

In his closing remarks, Mr. Sengphanomchone reiterated the meeting’s decisions to strengthen the cooperation of the BAF II Task Force Members, BAF II operation team and NIU of the DPC further improve effectiveness of BAF II in supporting Lao SMEs to cope with the impact of COVID-19, improve their resilience and prepare strong base for post pandemic recovery.

This meeting was supported by Lao PDR Competitiveness and Trade Project (LCT), which is funded by The World Bank Group, Australian Aid, Irish Aid, and USAID. The purpose of the project is to reduce and eradicate constraints of business growth by the technical and budget assistance to improve business environment as well as to improve the regulatory environment, lowering trade costs and raising firm-level competitiveness.