Project Review Committee Meeting for Lao PDR Competitiveness and Trade Project
Vientiane, 30 June 2023. The Department of Planning and Cooperation, Ministry of Industry and Commerce organized Semi-Annual Project Review Committee (PRC) Meeting for the Lao PDR Competitiveness and Trade or LCT Project at the Crowne Plaza Hotel, Vientiane. The meeting reviewed key achievements of the project implementation during the first half of the fiscal year 2023 and discussed priorities for the second half of 2023.
The meeting was chaired by H.E. Dr Manothong Vongsay, Deputy Minister, Ministry of Industry and Commerce and attended by more than 60 participants including representatives from donors, implementing agencies from line ministries and private sectors.
H.E. Deputy Minister highlighted key results delivered during the first half of 2023, including significant reduction of time to start a business, finalization of very complicated contract for supply and installation of the electronic business registration system, finalization of structure and operational modalities of new NTTFC – merger between NTFC and NTC, strong performance of Business Assistance Facility (BAF II), and effective project implementation mechanism.
After the opening remarks, key achievements, challenges, and priorities by pillar were presented by NIU/DPC and representatives from key implementing agencies, including Department of Enterprise Registration and Management (DERM), Department of Investment Promotion, Department of Import and Export, and BAF Team.
In his closing remarks, H.E. Dr. Manothong Vongsay requested all implementing agencies to accelerate implementation of key value-added activities to ensure achievement of intended outcome targets by the end of project duration and expressed his gratitude to the World Bank for playing the role of trust fund manager and for co-financing and providing project implementation support, and Australia, Ireland, and USA for their contributions to the multi-donor trust fund for the LCT Project.
