Lao entrepreneurs seek competitive edge in global markets

Some 40 officials from the small and medium enterprise (SME) sector, entrepreneurs and representatives of international organisations discussed the topic ‘Unleashing SME Entrepreneurship for Global Market Integration' at a workshop in Vientiane yesterday.

The day-long workshop aimed to create a favourable environment for local SME entrepreneurial talents to contribute to the country's trade-led growth.

Ministry of Education and Sports' Higher Education Department Director General, Dr Phonephet Boupha, chaired the workshop.

“Nowadays, local enterprises have to prove their competitive edge and self-reliance all over again when accessing international markets,” Dr Phonephet said in her opening statement.

She said some participants were already familiar with the ‘Unleashing SME Entrepreneurship for Global Market Integration' model.

“In order to achieve the objectives of the workshop and ensure everyone benefits, I would like to invite those who have tackled obstacles in the past and learned lessons to share their experiences with all participants,” she said.

Dr Phonephet explained that Laos' imminent integration into the Asean Community and WTO membership provided not only opportunities but also great challenges for Lao businesspeople.

She said it is not easy for the Lao government to nurture the local SME sector to be competitive in world markets.

“Participants' experiences and contributions will be highly appreciated during the workshop, and be of great value when it comes to adapting and implementing strategies to support the integration of local businesses into global markets,” she added.

Participants also discussed ways to overcome obstacles related to the present global economic troubles, as well as how to market their businesses to attain a competitive edge in global markets and secure self-reliance.

The workshop was sponsored and organised by the Lao-India Entrepreneurship Development Centre and Entrepreneurship Development Institute of India.

vientiane times

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