The Lao Competitiveness and Trade Project discussed the key achievements in 2022 and priorities for 2023

Champasak Province, 07 December 2022, Ministry of Industry and Commerce (MoIC) organized annual Project Review Committee meeting (PRC) of the Lao Competitiveness and Trade (LCT) to review its implementation progress for 2022 and discuss priorities for 2023. More than 60 participants from the project implementation agencies (IAs) from both public and private sectors and donors joined the meeting.

H.E. Manothong Vongsay, said in his opening remarks that “the main message from the project implementation support mission Aide Memoire as well as annual project progress report is that despite difficult external environment, the project has been making important progress across all project pillars/components. However, more efforts from all parties are required to ensure successful delivery intended outcomes by December 2024”

“As outlined in the mission Aide Memoire and the project report, in 2023, we are required to make extra efforts in implementing the following key activities: Implementation of the online business registration system; prioritization of business operating licenses for streamlining; Accelerate implementation of joint risk management framework; Prioritize NTM streamlining; Improve communications around regulatory reform measures; Development of risk profiles and pilot joint inspections of goods in selected borders; and Improve effectiveness of LBF in resolving private sector issues.” He added

Dr. Khamphet Vongdala closed the meeting by acknowledging that significant progress made in several components. However, he expressed that “the implementation of activities proposed by the project team will involve large number of implementing partners from both public and private sector. At the same time, we also see opportunity for complementarity between LCT Project, and other ongoing trade related technical assistance projects, especially ARISE Plus Laos, MSME Access to Finance, EIF Tier II – ECL project, USAID Lao Business Environment Project, and others. In this regard, it will be important for the project team to maintain closed working relationship with other project teams by utilizing our AfT coordination mechanism”

This meeting was supported by the Lao PDR Competitiveness and Trade project implemented by the Ministry of Industry and Commerce, with technical and financial support from the World Bank and additional financial contributions from Australia, Ireland, and the United States.