Prime Minister Pledges Greater Support for Business

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Prime Minister Phankham Viphavanh at the 13th Lao Business Forum
Prime Minister Phankham Viphavanh at the 13th Lao Business Forum (Photo: LNCCI)

Prime Minister Phankham Viphavanh spoke at the 13th Lao Business Forum, saying that the government is determined to engage with the private sector to resolve various challenges.

The Lao Business Forum was established in 2005 as an initiative between the International Finance Corporation (IFC) and the Ministry of Planning and Investment (MPI) to facilitate public and private sector dialogue.

The 13th Lao Business Forum, held in Vientiane yesterday, was attended by over 400 people, including foreign and local business people, public sector representatives, development agencies, and members of the diplomatic community.

PM Phankham said that dialogue between the government and the private sector is vitally important, as it helps the public sector understand which unresolved problems require attention.

He noted that the government will assign ministers from line ministries to solve problems on a case-by-case basis.

While noting the challenges faced by the business sector, he also called upon members of the business community to conduct business with integrity and to build networks, and create opportunities for expansion with foreign partners, according to Vientiane Times.

“As the policymaker and facilitator, the government is ready to cooperate with the private sector in addressing the remaining problems,” Mr. Phankham said in his closing remarks.

The forum reviewed the progress of issues identified during the 12th Lao Business Forum last year, showing support for dialogue and collaborative problem-solving.

Members of the business community praised the government for its hard work in preventing and controlling the spread of Covid-19, as well as providing assistance to protect businesses from economic effects.

While 32 issues were identified, the forum agreed upon a plan of action to continue the dialogue and find solutions over the next year.