LNCCI to boost business with three-year action plan

VIENTIANE (Vientiane Times/ANN) - The Lao National Chamber of Commerce and Industry (LNCCI)’s three-year action plan for 2018-20 will enable the organisation to put forward its priorities in supporting growth of the business sector, the chamber has said.

The chamber will shift from being a think tank and private sector consultation organisation to a service provider to the private sector under the four pillars of enabling the business environment, service provision for business in Laos, promotion of Lao products and market development, and building an information management system and PR base.

LNCCI President Mr Oudet Souvannavong told local media on Monday, during the LNCCI-Development Partners Meeting, that in the past the chamber did not have a specific strategic plan for improvement, leading to ineffective implementation of business promotion.

“So, we are here today with our development partners in Laos to explain our three-year strategic action plan for business promotion – attended by several major development partners such as the ADB, WB and other strategic partners,” he said.

He explained that the action plan is being supported by the government in association with its 8th five-year National Socio-economic Development Plan (2016–2020).

“The main objective of the LNCCI is to strengthen the development plan for the business sector in order to make it more organised and united with a proper structure under a practical and accurate action plan,” Mr Oudet said.

The three-year plan will focus on improving the business environment in Laos by gathering all the challenges faced by business for further discussion with the government, and finding solutions.

“SMEs are likely to be a key factor in socio-economic development so these are now also in the action plan. The SME Service Centre has been set up at the LNCCI to allow the business sector, new start-ups and entrepreneurs to access business advice.”

Most importantly, the LNCCI is keen to ensure that coffee, tea, rice, silk textiles and tourism top priorities for development as domestic brands to seek a larger share of overseas high-end markets.

“Currently, the market share of our products in foreign markets remains small scale,” Mr Oudet said.

He also noted the establishment of the Lao business database centre as necessary to track accurate information about business operations and the background of companies in Laos.

“If we don’t have accurate information about those businesses and companies we have no way to explain to the government and ask for suggestions for further effective business management,” Mr Oudet added.

During the meeting, representatives from development partners also suggested the LNCCI build a close connection with the government to give it a clear understanding of the action plan and to effectively implement the strategy alongside government directives.

The meeting was attended by German Ambassador to Laos Mr Jens Peter Lutkenhern, UNDP Deputy Representative Resident Mr Murali Balasbramaniam, and representatives of other development partners.

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