Foreign-owned businesses are encouraged to apply for the Friend of Laos award as part of the ASEAN Business Awards Laos 2020.
A total of 26 awards are up for grabs under various categories, including Priority Integration Sector, SME Excellence, Young Entrepreneur, Women Entrepreneur, Friend of Laos, Sustainable Social Enterprise, Family Business, Startup Enterprise, and Green Enterprise.
While criteria for most of the awards include 40% Lao ownership, the Friend of Laos award has been specifically designed with foreign businesses in mind.
Three awards under the Friend of Laos category will be given away to foreign-owned businesses that have been operating for over two years, and enjoy at least 40% of their revenue from operations in Laos.
Mr. Marcus Mah, Deputy General Manager of Savan Park, took home the award on behalf of his company at the 2019 ASEAN Business Awards Laos.
“We are an infrastructure development company at Savan Seno Special Economic Zone C- Savan Park. We are a joint venture company between the Lao government and a private company from Malaysia providing logistics solutions with our dry port,” said Mr. Marcus.
“Our company got a lot of increased exposure after winning the Friend of Laos award, resulting in a lot more inquiries about our services,” he said.
According to Mr. Marcus, the ASEAN Business Awards Laos is one of the best platforms for Lao businesses to access local or international business networks.
He says the application process is straightforward but highly regulated for transparency, with full cooperation from KPMG Laos to ensure compliance.
Another award winner, Ms. Susie Martin, received the award on behalf of her business, Lao Buffalo Dairy, a socially responsible, sustainable farm operating in Luang Prabang.
She says the award helped her business to gain more exposure and boost sales of their cheese products, as well as the farm’s unique tourism products.
“Attending the gala dinner in Vientiane was a good opportunity to meet other business owners, both potential suppliers and customers,” said Ms. Susie.
“Many of our team had never traveled outside of Luang Prabang, so winning a national award was exciting for them. They appreciated the recognition this gives their efforts.”
Foreign businesses interested to apply for the ASEAN Business Awards Laos 2020 may visit the website at https://lncci.la/aba2020/en.