Lao PDR Invests in Inclusive Empowerment: Women, Youth, and Rural Communities
Vientiane, 29 March 2024 – To commemorate International Women’s Day, the Lao PDR Competitiveness and Trade (LCT) project under the Ministry of Industry and Commerce (MOIC) hosted a women’s economic empowerment event focusing on “Investing in Inclusive Empowerment: Women, Youth, and Rural Communities.”
This half-day event highlighted the critical need for sustained investment in the economic and social inclusion of marginalized groups, especially women, youth, and rural communities. The event recognized the pivotal role of both domestic and foreign direct investment (FDI), alongside public-private partnerships (PPP), in facilitating broader economic participation. It aimed to mobilize support for impactful investment strategies deliberately aimed at those who might otherwise be left behind.
Discussions focused on how foreign direct investment can promote gender equality and inclusion, the role of social enterprises in offering new job opportunities for young people, and how to bring trade to rural communities to empower women.
MOIC Deputy Minister Dr. Manothong Vongsay emphasized: “By building a stronger infrastructure, we can unlock the entrepreneurial spirit of all Lao people, especially women and those in rural communities. This isn’t just about factories and numbers – it’s about families and communities. FDI in sustainable industries like agriculture, manufacturing, and tourism can be the spark that ignites not only economic growth, but also social progress and a brighter future for all.”
Vice President of the Lao Women’s Union stated: “For generations, the women in our rural villages have possessed incredible skills and determination. By investing in trade infrastructure and training, we can open doors to international markets. This isn’t just about economics – it’s about giving these women a platform to share their gift of traditional knowledge with the world and build a brighter future for themselves and their families.”
Alex Kremer, World Bank, Country Manager for Lao PDR said that “While social entrepreneurship may be relatively new to Lao PDR, we’re encouraged by the growing attention to this issue and our institution’s support for it. As February 2024, the Business Assistance Facility (BAF), supported by Lao PDR Competitiveness and Trade Project, has disbursed 459 grants, with close to two-thirds benefiting women, including those in rural areas,”. He added that “The participation of two BAF grantees among today’s speakers underscores the MOIC and WB commitment to this issue and will be an important source of feedback.”
Freelance MC and moderator Mr. Inpanh Borihan expertly led the discussions, featuring Ms. Somchit Phankham, Founder and Managing Director of Panyanivej, Ms. Douangmany Heuangkhamsene, Founder and Managing Director of Her Works, and Ms. Heather Taylor-Strauss, UN ESCAP’s technical assistance and capacity building programs on FDI.
The women’s economic empowerment event was supported by the Lao PDR Competitiveness and Trade (LCT) project. The project aims to eliminate barriers to private sector-led growth by improving the regulatory environment, lowering trade costs and raising firm-level competitiveness. The LCT Project is implemented by the Ministry of Industry and Commerce, with technical and financial support from the World Bank and a multi-donor tryst fund contributed by Australia, Ireland and the United States.
