(KPL) The government is taking significant steps to enhance domestic production and cut imports, aiming to strengthen the processing industry, promote the use and export of Laos-made products, and minimize the export of unprocessed raw materials.

Key measures include supporting businesses across various sectors, prioritizing industries that produce import substitutes, and addressing challenges to create a favorable environment for local production. The Ministry of Industry and Commerce (MoIC) will lead efforts to improve regulations, streamline procedures, and provide targeted assistance to businesses.

At the 8th Ordinary Session of the National Assembly’s 9th legislature on Tuesday, Minister of Industry and Commerce Malaythong Kommasith reiterated the government’s commitment to developing robust production databases. These databases will provide accurate and comprehensive information for research, planning, and identifying competitive domestic products based on import data and feasibility studies.

The government is also focused on overcoming existing obstacles, including enhancing the business environment for trade and investment, reducing production and transportation costs, stabilizing economic and financial conditions, and revising policies, laws, and regulations to attract investments in key industries.

Additionally, consultations will be held with credible local and foreign investors with financial capacity and relevant expertise. These engagements aim to refine policies that support effective production and ensure alignment with international requirements.

The ministry has launched a pilot project, “Promote the Production and Use of Domestic Products,” in collaboration with producers and processors’ associations. This initiative includes experimental practices, such as selling products at budget prices within the ministry. If successful, the program will be expanded to other government offices, according to Minister Malaythong.

KPL