USAID Supports first Policy Talk in Champasak

Pakse, July 7, 2022. The Lao National Chamber of Commerce and Industry (LNCCI), in partnership with the Champasak Chamber of Commerce and Industry (CCCI), organized the first-ever Policy Talk workshop in Champasak Province. The workshop is supported by the US Agency for International Development (USAID) through the Laos Business Environment Project.

A series of Policy Talk sessions have been organized in Vientiane Capital since 2021. This is the first time that LNCCI has extended the Policy Talk series to the provincial level. Policy Talk is a platform that serves as a means to engage and inform SMEs on key policy issues. More frequent and inclusive public-private dialogue is needed in order to build trust between the public and private sectors as well as to address the needs of SMEs and ensure that their priorities are reflected in government decision-making and policy development processes.

The workshop was chaired by Mr. Somboun Huengvongsa, Vice Governor of Champasak Province and Ms. Bounhueng Calor Litdung, CCCI President, and Mr. Phouxay Thepphavong, LNCCI Secretariat also attended. The workshop included more than 40 participants from the provincial public and private sectors, 10 of whom were women entrepreneurs and 5 were women government officers.

The Champasak Policy Talk focused on the current economic situation in the post-COVID context. During his opening remarks, the Vice-Governor expressed his appreciation to the Lao National Chamber of Commerce and Industry (LNCCI) for bringing Policy Talk to Champasak Province. He also noted that “the topic is very relevant and timely, and it is well reflected in the National Agenda, which is focused on resolving the country’s financial situation.”

Mr. Phouxay noted that the post-COVID-19 environment; global and regional economic conditions; the conflict in Europe; and rising oil prices, among other issues, have had a major impact on the Lao economy, particularly on SMEs. The Policy Talk platform seeks to highlight these issues for SMEs to discuss and facilitate a discussion of lessons learned on how to adapt to this uncertainty.

The workshop was organized into two sessions. The first session focused on the economic environment in the province, and it was led by a representative from the Department of Planning and Investment.

The second session was a panel discussion entitled “SMEs in the Uncertainty of the Laos Economic Environment.” Participants included Mr. Chanthavong Pamisith, CEO of the KPV Gold Group; Associate Professor Dr. Piya Wongpit, Head of Finance and Banking Department, Faculty of Economic and Business Administration (National University of Laos); Ms. Kongphet Thavitham, President of the Lao-German Starch Co., Ltd.; and Mr. Bee Phouttakeo, Managing Director of Lao Crypto Mining Co., Ltd.

Key topics covered in the panel discussion included: 1) the push and pull factors that affect the economy; 2) factors related to the depreciation of the Lao Kip; 3) digital assets vs. physical assets; 4) economic stimulus policy.

The issues raised during the discussion were noted by the Vice Gvernor, and he thanked all the speakers for sharing their knowledge and insights. He reaffirmed the provincial government’s commitment to working with the private sector and helping SMEs to address their business challenges as well as improve the economic situation in Champasak province.

The USAID, through the Laos Business Environment Project, assists the Government of Lao PDR to improve the climate for investment and trade and enhance the competitiveness of small and medium-sized Enterprises.