Ministry of Industry and Commerce organized the Virtual Meeting on Trade and Investment Sector Assessment under ADB’s TA

Vientiane Capital, 15 December 2020. The Department of Planning and Cooperation, Ministry of Industry and Commerce, organized the Virtual Meeting on Trade and Investment Sector Assessment under the ADB’s Technical Assistance (TA) on “Economic Policy on Enhancing Productivity and Employment”. The meeting was chaired by Mr. Somchith Inthamith, Deputy Minister, Ministry of Industry and Commerce. There were approximately 50 participants from the Ministry of Industry and Commerce and other line Ministries joining the meeting at the meeting room of the Ministry of Industry and Commerce and through the virtual meeting platform. The objective of the meeting was to open floor for the relevant public sectors to discuss about the trade and investment assessment under the ADB’s TA.

Mr. Somchith Inthamith, the Deputy Minister of Industry and Commerce highlighted the impact of the COVID-19 to the trade and investment sector, especially the decline of employment due to the temporary closure of production facilities, and further disruptions in the global value chains. He also added the current work of the Ministry of Industry and Commerce that the Second Diagnostic Trade Integration Study (DTIS) is currently conducting. The main objectives of the DTIS Update are to take stock of progress in implementation of recommendations in the Roadmap for Trade and Private Sector Development, complement and deepen the analysis in selected areas, particularly in the light of recent development, with specific focus on agribusiness, tourism and general manufacturing, and revise the Roadmap accordingly. The study is also based on a review of existing reports, desk research, analysis and consultation to a representative selection of private sector firms.

After the opening remark, the meeting followed the agenda starting from the presentation of Introduction of the Trade and Investment Sector Assessment by Ms. Kanya Satyani, the representative from ADB. Then, the Expert Team from ADB presented the Trade and Investment Sector Assessment according to the topic. Finally, the meeting open floors for other participants to provide remarks and discuss the topic. At the end of the meeting, Mr. Somchith Inthamith express his gratitude towards ADB representatives and participants for their contribution to the meeting.