The Lao Business Forum Government Coordinating Committee Meeting Reviewed Progress of Resolving Issues Raised by the Private Sector

Vientiane Capital, 16 February 2024, the Ministry of Industry and Commerce (MOIC) organized the Lao Business Forum (LBF) Government Coordinating Committee Meeting.

The meeting was chaired by Dr. Buavanh Vilavong, Permanent Secretary, MOIC, in his capacity as the deputy chair of the LBF Government Coordinating Committee. Over 40 representatives of the LBF Government Coordinating Committee and relevant technical departments from line ministries were in attendance.

The objective of the meeting was to discuss and review the progress of resolving issues raised by the private sector under the LBF in preparation for the upcoming LBF Steering Committee Meeting and the 15th LBF.

In his opening remarks, Dr. Buavanh Vilavong emphasized the significance of improving the business enabling environment in promoting investment and business growth in Laos and the Government’s commitment to enhance the effectiveness of resolving issues raised by the private sector, which led to Prime Minister’s Decision to formalize the public private-dialogue process under the LBF.

During the meeting, representatives from line ministries reported the progress of the dialogue process in tackling all the issues encountered by the private sector. In addition, the meeting agreed on a concrete plan of action to continue dialogue and seek appropriate solutions to the remaining issue resolution proposals to report to the Steering Committee Meeting and the 15th LBF.

Dr. Buavanh Vilavong concluded the meeting by acknowledging valuable contributions made by all meeting participants and further encouraged all line ministries to effectively address all the remaining issues of the private sector according to the agreed action plan in an efficient manner.

This meeting was supported by Lao 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.