Launch of Lao PDR Competitiveness and Trade Project

On 15 February 2019, H.E. Mrs. Khemmani Pholsena, Minister of Industry and Commerce officially launched the Lao PDR Competitiveness and Trade (LCT) Project, which aims to support facilitate create enabling environment for all businesses, including micro-small and women owned and managed businesses.

LCT Project aims to simplify business regulations, facilitate trade, and improve firm-level competitiveness in a response to the Government’s 8th National Social Economic Development Plan. The project directly supports business regulatory reforms outlined under the PM Order No. 02 and is aligned with the Government’s vision for trade and private sector development that have been endorsed by the MOIC: enhancing competitiveness of Lao enterprises, improving the business enabling environment, and economic integration under the WTO and ASEAN.

Speaking at the project kick-off meeting Minister Khemmani Pholsena said: “Launch of the LCT Project reinforces our commitment to promote economic growth and transformation through creating enabling environment for all businesses, including micro small and women owned and managed businesses. Today’s event is taking place in time that our Lao Government is in process of accelerating implementation of our Prime Minister’s Order No. 02 that aims to improve business regulatory environment, especially our country’s performance in World Bank’s Doing Business Report.  Resource provided by the LCT Project is critical to the implementation of PM Order No. 02 and other trade and private sector development priorities.”

Minister also took this opportunity to call on all concerned Ministries and agencies as well as LNCCI to make maximum use of resources allocated under the Lao Competitiveness and Trade Project to produce tangible results in reforming regulations around 10 indicators of Doing Business Report based on the PM Order No. 02 and create necessary momentum for more comprehensive medium term and long term business environment reform. 

The meeting also discussed key interventions, implementation modality as well as result framework and gender mainstreaming dimension of the project.
LCT Project is funded by credit from IDA (World Bank), grant from a multi-donor trust fund contributed by Australia and Republic of Ireland.
More than 100 participants, representing development partners, concerned agencies and private sector attended the meeting.