PM calls for stronger public-private ties to overcome economic slump

Prime Minister Thongloun Sisoulith told business operators on Friday that it was essential for the public and private sectors to cooperate more closely amid the Covid-19 pandemic to ensure no one is left behind.
The premier delivered a motivational address to the 8 th Congress of the Lao National Chamber of Commerce and Industry (LNCCI), held at the National Convention Centre, saying that the pandemic threatened the lives of millions as well as the global economy, with the number of infections continuing to rise.

“This is a silent killer and an invisible enemy and everyone must prepare themselves to face this challenge. Businesses in particular must adapt urgently because we have to go with the flow of the ‘new normal’,” the prime minister added.
He stressed that a new business vision was required in the time of the new normal, which meant thinking creatively and being professional through the use of innovative technologies. Start-ups especially must work towards more productive outcomes and greater achievements amid a wave of changes.
Prime Minister Thongloun called for unity between the public and private sectors and for confidence in the government’s efforts to rebuild the economy, saying that Laos still had great potential.
“The Covid-19 outbreak has brought a crisis as well as teaching us a countless number of lessons, one of which is to avoid lavish spending, while also saving time and money,” he said, adding that business investment should be based on sound plans to ensure a profitable result.
“When a business is profitable, it contributes to the government’s budget through the payment of taxes. This means that neither the government nor the business sector can walk alone but must firmly join forces and work hand in hand,” the premier said.
In conclusion, the prime minister said the public and private sectors were now in the same boat and must ride out the powerful waves of the prevailing storm. Only shared determination would lead the boat to a safe destination.
On the morning of the same day, LNCCI President Mr Oudet Souvannavong highlighted the chamber’s achievements over the three years from 2017-2019.
He also outlined plans for 2021-25, which prioritise six pillars, namely public and private cooperation through the Lao Business Forum, market promotion of Lao products, regional economic integration and sustainable investment promotion, development of entrepreneurs, and the provision of development and business information and services for LNCCI members.
At the meeting, medals and certificates of congratulations were presented by the government to LNCCI board members and other chamber members in recognition of their outstanding contribution to the development of Lao business and economic growth in past years.
The LNCCI holds a congress every three years to review achievements and outline future plans, as well as elect a new board of directors.
Mr Oudet was re-elected as the chamber’s president, while Mr Daovone Phachanthavong was named the first vice president along with 11 other vice presidents.
In the afternoon, Prime Minister Thongloun Sisoulith, Minister of Industry and Commerce Mrs Khemmani Pholsena, German Ambassador to Laos Mr Jens Lütkenherm and other senior officials attended a ceremony to launch the Dual-Cooperative Training (DCT) Service Centre.
Through the DCT Service Centre, the LNCCI aims to provide leadership and support for the development of technical and vocational education and training, with DCT as the preferred training approach and qualification pathway.

By Times Reporters
(Latest Update September 28, 2020)