VIENTIANE, July 24 (Xinhua) -- Laos' Ministry of Industry and Commerce and development partners convened a consultation meeting to advance trade and business development, promote inclusive growth, and support the country in its endeavors to transition from least developed country (LDC) status.
The meeting, held in Lao capital Vientiane on Thursday, brought together senior officials, international organizations, and representatives from both domestic and foreign businesses, according to the Lao Economic Daily.
In his remarks, Lao Minister of Industry and Commerce Malaithong Kommasith emphasized that the business sector is the backbone of the economy and a national priority.
As Laos progresses towards graduating from LDC status, it is crucial to establish a supportive and investor-friendly environment, he added.
The meeting presented a development plan outlining strategic goals to strengthen competitiveness and enhance regional integration across the trade, manufacturing, energy, and mining sectors. Participants provided feedback to ensure the plan aligns with shared priorities and is practical for implementation.
The discussion also emphasized the need to reduce trade barriers and boost cross-border trade efficiency. ■
