USAID, Savannakhet University bolster development of private sector 

Two Memorandums of Agreement (MOAs) were signed last week between Savannakhet University and the Savannakhet Chamber of Commerce and Industry, and the second between Savannakhet University and the Savannakhet Special Economic Zone Management Authority. 
These two agreements, with funding support from the United States Agency for International Development (USAID), will enrich the private sector’s knowledge of trade and investment and expand research and management skills in the tourism industry.

Representatives of Savannakhet province and USAID cut a ribbon at the agreement signing ceremony last week.

The MOA signing ceremony took place at the Savannakhet ITECC Centre and was attended by representatives from the Ministry of Education and Sports, Savannakhet University, National University of Laos, USAID, and the private sector.
Deputy Minister of Education and Sports Dr Sourioudong Sundara emphasised the significance of this engagement with the private sector and highlighted USAID’s ongoing assistance in this important work.
“The ministry supports and encourages this type of collaboration because it strategically aligns with the education and sports sector’s development plan for 2021-2025,” Dr Sourioudong said.
“By helping the private sector to become better informed and more profitable, Savannakhet University will assess trends and demands in the labour market, as well as further develop and revise the curriculum to reflect the most up-to-date market environment and growth trends.”
The Governor of Kaysone Phomvihane City, Mr Paxongsin Chaleunsouk, thanked the United States for ongoing support to Savannakhet in improving higher education and private sector investment, and supporting services for vulnerable communities, including health, nutrition, countering trafficking in persons, and education.
“Savannakhet enthusiastically supports the 2030 vision endorsed by the Lao government, especially the overall direction for socio-economic strategy. These partnerships and collaborations are evidence of our intention to fulfil this commitment,” Mr Paxongsin said.
To support the government’s vision and strategy, the Acting President of Savannakhet University, Dr Souliyong Xaykosy, said “Higher education institutions like Savannakhet University play a key role in analysing labour market needs and promoting high-quality human resource development in line with the goals of socio-economic development, enabling Laos to become competitive and integrated into the regional and international arenas.”
Also speaking at the MOA signing ceremony, USAID Country Representative Mr Michael Ronning reaffirmed USAID’s commitment to supporting the Lao government to strengthen both the higher education and private sectors, which are essential to the country’s development.
During the three-day event on February 27-28 and March 1, more than 1,000 students and job seekers were able to explore employment opportunities and learn more about the private sector through fun activities made possible by cooperation between the university and private businesses.

By Times Reporters
 (Latest Update March 6, 2023)