Policy Talk on Promoting Digital Economic Transformation in Lao PDR
Vientiane Capital, May 23, 2024 – To accelerate Lao PDR’s digital transformation, the Ministry of Industry and Commerce (MoIC), Ministry of Technology and Communication (MTC), Lao National Chamber of Commerce and Industry (LNCCI), and the United States Agency for International Development (USAID) co-organized a pivotal policy talk event under the theme “Promoting Digital Economic Transformation in Lao PDR.”
The event gathered over 50 key stakeholders from government, industry, and the private sector to explore opportunities and challenges in fostering Lao PDR’s digital economy, with a focus on implementing the National Digital Economy Strategy. Discussions pinpointed areas for improvement, including fostering a conducive environment, simplifying regulations, and advancing digital infrastructure.
“Embracing the digital revolution is essential for Lao PDR’s continued economic growth and prosperity. This Policy Talk serves as a critical platform for collaboration as we navigate this exciting yet challenging landscape,” said LNCCI Vice President Mr. Thanousone PhonAmard in his opening remarks.
A representative from MoIC highlighted the importance of collaboration. “The digital economy presents immense potential for Lao businesses to expand their reach and compete globally. This policy talk is a crucial step in creating a supportive ecosystem that empowers our private sector to thrive in the digital age.”
The talk enhanced understanding and knowledge among participants, while policymakers received valuable feedback from SMEs and other stakeholders on the current policy landscape, identifying potential areas for improvement. The event fostered collaboration between the public and private sectors and developed potential solutions for digital business growth, contributing to a roadmap for future digital initiatives and investments.
“The private sector is a vital partner in advancing Lao PDR’s digital transformation journey. By working together, we can create an enabling environment that allows businesses to thrive in the digital age,” commented a Chief of Party from the USAID Laos Business Environment Project during the closing session.
The insights from the Policy Talk will inform an actionable policy paper to develop a robust and inclusive digital ecosystem in Lao PDR. This collaboration translates discussions into concrete steps for accelerating the nation’s digital transformation.
USAID, through the LBE Project, supports the Lao PDR government’s efforts to foster a more conducive environment for investment, trade, and the competitiveness of small and medium-sized enterprises.
