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Tuesday, July 16, 2024

Laos to Develop E-Commerce Policies, Strategies for Local Enterprises

This Week

Recognizing the surging trend of online sales in Laos, the government has designated the strengthening of e-commerce as a key strategic development goal for the period 2016–2025. The focus is on promoting small and medium enterprises (SMEs) to drive economic growth.

Latthana Douangboupha, deputy director general of the SMEs Promotion Department under the Lao Ministry of Industry and Commerce, emphasized the significance of e-commerce in empowering SMEs during a seminar held in Vientiane on 15 September. The seminar aimed to develop e-commerce policies and strategies to fortify SMEs in the digital era.

Government officials and representatives from various companies in Laos gathered to exchange knowledge and experiences in e-commerce and digital business, seeking strategies to strengthen their enterprises and compete effectively in the regional market.

Despite the widespread adoption of e-commerce platforms among SMEs in Laos, Latthana underscored the need for continued development and refinement of digital business practices. This emphasizes the government’s pivotal role in fostering these advancements.

E-commerce has gained traction in Laos, particularly during the COVID-19 pandemic, prompting the Lao government to acknowledge the need for clear regulations to protect investors. The issuance of a new decree supporting the growth of e-commerce has further instilled confidence in digital transactions among traders and consumers.

Since implementing the Law on Electronic Transactions in 2012 and the Decree on Electronic Commerce in 2021, the Lao government has proactively explored initiatives to foster growth and generate revenue from electronic commerce, as reported by Xinhua.

However, challenges persist in various sectors essential for the widespread adoption of e-commerce in Laos. This includes the improvement of logistics, infrastructure, and digital literacy among the populace.

Recently, the country has faced a surge in online scams, with victims losing money to unscrupulous sellers who advertise products but never deliver them.

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