KPL
(KPL) Around 400 representatives from enterprises, companies, banks, and financial institutes of Laos and Thailand met in Vientiane Capital yesterday to discuss improving Lao Small and Medium Enterprises (SME) and enhancing their competitiveness in the ASEAN Economic Community (AEC).
The half-day seminar was held at the Lao Securities Exchange (LSX) in Vientiane Capital under the chairmanship of the Minister to the Government Office and Director General of the Office of the Government Secretariat, Mr Phouphet Khamphounvong.
Mr Phouphet Khamphounvong, 5th from left, with other participants
Singkham
(KPL) Around 400 representatives from enterprises, companies, banks, and financial institutes of Laos and Thailand met in Vientiane Capital yesterday to discuss improving Lao Small and Medium Enterprises (SME) and enhancing their competitiveness in the ASEAN Economic Community (AEC).
The half-day seminar was held at the Lao Securities Exchange (LSX) in Vientiane Capital under the chairmanship of the Minister to the Government Office and Director General of the Office of the Government Secretariat, Mr Phouphet Khamphounvong.
“We have to attach special attention to SME improvement to ensure that they are competent enough to access capital resources in order to be listed and sell shares on the LSX,” said Mr Phouphet.
By 2020, at least 25 local companies are expected to be listed on the LSX. There are only four companies currently listed on the Lao Securities Exchange. These include Banque Pour Le Commerce Exterieur Lao Co., EDL-Gen, Lao World Public Co., and Petroleum Trading Lao Public Co., according to LSX Chairman and CEO, Mr Vankham Voravong.
Mr Phouphet said that the LSX will be a new means to mobilize capital for SMEs in the country but unfortunately, products in the LSX are still limited. This seminar will be a good opportunity to exchange lessons and experiences about capital markets for Lao SMEs.
“We focus on SMEs because it is a major economic sector of the country and covers about 90 per cent. They will be main drivers to boost Lao economic growth after AEC integration,” he pointed out.
When the AEC is announced at the end of this year, there will be both advantages and challenges for Lao SMEs.
“Faced with these challenges, the SME sector has to design future plans and put suitable measures in place to upgrade their competitiveness in order to reduce challenges and limitations,” said Mr Phouphet.
“Capital capacity, technology, knowledge of management and administration, and vocational skills are still main challenges for Laos as we move towards AEC integration.”
“This meeting will act as a stage for discussing and sharing ideas on how to address barriers for local SMEs.
The workshop was co-organized by APM Lao and Post Today (Thailand).
KPL
