3rd Project Review Committee (PRC) Meeting for Lao PDR Competitiveness and Trade Project
Vientiane, 21 July, 2020. The Department of Planning and Cooperation, Ministry of Industry and Commerce held the Project Review Committee (PRC) Meeting for LCT Project on 21 July, 2020 at the MOIC Conference Hall to review and discuss the progress of the project implementation for the first half of the fiscal year of 2020, and the priorities for the second half of the fiscal year of 2020.
The meeting was chaired by Mr. Phouvieng Phongsa, Director General of the Department of Planning and Cooperation (DPC). More than 50 participants including donors, international and national agencies participated in this meeting.
The Director General of DPC stated in his opening remarks on the objectives of this meeting as to inform the progress of the project. In addition, the Director General of DPC also stressed the severe impact of the COVID-19 pandemic to the Lao and global economy, and emphasized the importance of accelerating project activities to mitigate the economic impact.
“Today’s meeting is taking place in critical juncture for Laos and the whole world as outbreak of the COVID–19 continues to spread. Although our country has not seen large number of COVID-19 cases, we are confronting severe economic disruptions and a significant fiscal squeeze – from the global demand shock, supply chain disruptions and significantly reduced income from tourism and remittances. At the same time, crisis can come with opportunities for positive change, and the present crisis offers us opportunity to undertake or accelerate much-needed reforms that would place our country on firmer footing as economic recovery takes hold.” he added.
After the opening remark, key achievements, Challenges, and Priorities was presented which started with the presentation of the business environment improvement through making it easier to start a business and Streamlining and Publishing Operation Licenses by representative of the Department of Enterprise Registration Management (DERM), followed by the presentation from representative of Investment Promotion Department (IPD) of the Ministry of Planning and Investment (MPI) who presented another topic regarding business environment improvement, but in terms of Supporting Border Business Reforms, and the presentation from the Department of Import and Export (DIMEX) on Facilitating Trade and Connecting to Markets.
Next, the topic of Improving Firm-level Competitiveness in the project of Business Assistance Facility (BAF) was presented by the representative from BAF team. Then, the Lao National Chamber of Commerce and Industry (LNCCI) presented the Public-Private Dialogue under the Lao Business Forum (LBF). The key recommendations for implementation of Lao Trade Policy Statement at WTO was highlighted by the Department of Foreign Trade Policy representative. The Final presentation by the Department of Planning and Cooperation representative highlighted the project management challenges and plan for the Midterm Review.
At the end of this meeting, Mr. Phouvieng Phongsa has officially express his gratitude towards all department partners for the great cooperation and contribution to improve competitiveness of Lao private sector in both domestic and regional market. Also, he express his sincere thanks to all donors including The World Bank, Australia, Ireland, and USA for co-financing the Lao Competitiveness and Trade Project.
