Senior officials from the governments of Laos and the United States of America met recently in Vientiane to discuss implementation of the Trade and Investment Framework Agreement (TIFA).
Small and Medium-sized Enterprises (SMEs) in Laos must gear up to continuously develop and improve their product offerings to contend with regional and international competitors, an official in charge of SME promotion has said.
Laos is now becoming a more land-linked country in which a system of transport is fully triggered and both domestic and international logistics companies are being encouraged by the government.
Although there is strong regional demand for agricultural products, the volume of farming products exported by Laos remains underd.
The Laos-China Roadshow for Bank of China (BOC) SMEs Cross-Border Trade and Investment Conference has given Lao firms the opportunity to expand their business network to enterprises in China and the Asean region.
PROCON Company Limited, an expert in piling works contractor in Laos, has expressed strong interest in being involved in the construction of the mega Laos-China railway.
MMG LXML Sepon (LXML) recently provided 80 million kip in sponsorship to the Lao National Chamber of Commerce and Industry (LNCCI).
All Thai businesspeople who want to set up operations in Laos will have to follow the guidelines of the legal process and have a full understanding of local business culture, a senior Thai trade has official warned.
Pawnshop businesses in the country are on the decline while credit leasing services have increased according to the Bank of the Lao PDR.
The International Monetary Fund (IMF) has advised Laos to undertake more reforms aimed at diversifying the economy, boosting private sector activity, and improving the business climate.