Lao business forum transferred
(KPL) The International Finance Cooperation (IFC), a member of the World Bank Group, last Thursday transferred the operation of the Lao Business Forum (LBF) under the Lao National Chamber of Commerce and Industry (LNCCI) to recognise the chamber’s ability to moderate the policy dialogue between the government and private sector.
The transfer ceremony was held at the LNCCI, Vientiane, witnessed by Vice LNCCI President, Mr. Oudet Souvannavong, the IFC Programme Manager for Mekong Region, Investment Climate Advisory Services, Mr. Charles Schneider, along with relevant sectors.
Under the management of the LNCCI, the LBF secretariat will operate the day-to-day activities, including coordination with stakeholders and facilitation of the dialogue around opportunities to improve the business climate in the country.
“The new start for the forum’s secretariat highlights a natural extension of our role, which is to represent the business community in working with the government to remove constraints to the private sector’s ability to do business and create jobs,” said Mr. Oudet. Since 2005, the forum has enabled local and international businesses to raise issues and discuss practical solutions to business constraints with the government. The dialogue is conducted through four main working groups: tourism, services and trade, mining, and manufacturing, that meet with their government counterparts on a regular basis between the semi-annual forum meetings.
“We are very happy to continue supporting this mechanism and highly appreciate that a local institution like the LNCCI will be taking ownership of this initiative,” said Director General of the Investment Promotion Department, Ministry of Planning and Investment, Mr. Houmpheng Souralay.
In support of the transition of the IFC secretariat to the Chamber, the IFC will continue to coordinate with the LNCCI and MPI on the forum’s process requirements and provide financial assistance to the secretariat.
“At the IFC, we see a determination from both the private sector and the government to improve the business environment to attract more investment and trade,” said Mr. Schneider. “Now that the dialogue process is well established, the Forum should be driven by local representative stakeholders. Local ownership and commitment is what makes a public-private dialogue platform successful.”The IFC is the only international financial institution focused exclusively on the private sector, the engine of sustainable development in emerging markets. Along with the International Bank for Reconstruction and Development (the World Bank), it is currently seeking a capital increase to strengthen its ability to create opportunities for the poor in developing countries including facilitating a structured dialogue between the public and private sectors to promote an enabling business environment through the biannual LBF.In the Lao PDR, IFC advisory services are delivered in partnership with Finland, Ireland, the Netherlands, New Zealand, and Switzerland.
