Some 245 businesses in Vientiane Capital have been severely affected by the second wave of the Covid-19 in Laos.
Head of the Vientiane Capital Planning and Investment Department, Ms. Bouavone Souklaseng, says the second wave of the Covid-19 has seriously impacted 245 enterprises in Vientiane Capital, accounting for 15.9 percent of the city’s 1,541 businesses.
“Tourism services, hotels, guesthouses, entertainment venues, and transportation services were the most affected, followed by the industrial and agricultural sectors across the Capital,” said Ms. Bouavone.
“The second wave of Covid-19 since April has had a significant impact on the services sector, with 77% of business owners in the sector saying they were severely affected,” said Ms. Bouavone.
Businesses in the service sector have seen a 64% drop in revenue, while some 70% of firms said they had temporarily suspended business activities. At the same time, 46.86% of service sector businesses have been forced to lay off employees.
Authorities hope to boost the service sector’s growth rate to 4.72 percent this year.
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.
He added that the government will appoint ministers from line ministries to fix difficulties on a case-by-case basis, and that interaction between the government and the private sector is critical in helping the public sector realize which unresolved issues need to be addressed.