Business operators should understand Party policies and direction in depth and conduct their operations honestly to enable strong growth
in the government and business sectors, Vice President Phankham Viphavanh has advised.
Mr. Phankham, who is also Standing Member of the Secretariat Committe of the 10th Party Central Committee, delivered the advice when speaking at a meeting of business leaders in Vientiane yesterday hosted by the Lao National Chamber of Commerce and Industry to explain the Resolution adopted by the 10th Congress of the Lao People’s Revolutionary Party.
He highlighted the progress made in implementing the Resolution, saying it had contributed to the country’s construction and development. Laos has also raised its profile on the regional and international stages after successfully hosting the 10th Asean Summit in 2004 and the 9th Asia-Europe Meeting in 2012, he added.
However, Laos had also faced various shortcomings and challenges in recent years, he noted. There was a growing poverty gap, a poor attitude and understanding of political ideology on the part of some government employees, widespread social problems, and failings in some Party and government mechanisms.
The current 10-Year National Socio-Economic Development Strategy (2016-2025) aims to strengthen the country’s social and economic foundation and lift Laos out of Least Developed Country status to become an upper middle income country by 2030.
Mr. Phankham said the Resolution viewed human resource development as a key factor in the country’s development and that development should follow a green and sustainable path.
All sectors should strive to achieve the four breakthrough approaches to accelerate national development and sustain economic growth. These approaches comprise a breakthrough in thinking, breakthrough in human resource development, breakthrough in the mechanisms, procedures and rules of administration, and a breakthrough in poverty reduction.
Mr. Phankham emphasised that business operators should fully understand the national development policy and direction, the laws and regulations governing business operations, and conduct their operations honestly in the interests of strong growth in government and industry.
They should actively participate in implementing and combating corruption, unite and cooperate in business operations while engaging in competition to spur the growth of business units. The business sector should try to create job opportunities and boost productivity without relying on government investment, and strive to reach international standards to ensure readiness for integration and access to sources of funding and development cooperation, he added.
Source: Vientiane Times