Vientiane, April 03, 2025. The annual 16th Lao Business Forum took place in Vientiane to review progress of public private dialogue aimed at improving business environment in Laos during the past year. The event attracted more than 450 participants, representing domestic and foreign businesses, public sector agencies, as well as the international diplomatic community and development partners.

In his opening remarks, H.E. Mr. Saleumxay KOMMASITH, Deputy Prime Minister, acknowledged the importance of private sector development in achieving the National Social Economic Development targets. The Deputy Prime Minister also highlighted the importance of improving government policies and operations to create a more conducive business environment, contributing to economic growth and poverty reduction.

The half day event demonstrated broad support for structured dialogue under the Lao Business Forum mechanism in identification and resolution of key issues affecting private sector in the country. Private sector speakers also complimented the Government for making concerted efforts in improving the environment for doing business in the country. Key achievements include reduction in time and cost for starting a business, including reduction of investment activities on the controlled list, development of electronic business registration system, simplification of taxation for MSMEs, promotion of risk-based approach in business licensing in selected sectors, improving access to laws and regulations related to trade and investment, continuous implementation of commitments made in bilateral, regional, and international trade agreements, and capacity building for MSMEs.

For 2024-25 private sector and concerned government agencies prioritized 12 priority proposals relating to business entry, trade facilitation, access to financial services, enforcement of laws and regulations, and promotion of sustainable tourism and agribusiness for structured dialogue, resulting in resulting in completely resolving 03 proposals, making significant progress in 03 proposals, making good progress in 05 proposals, and 01 proposal cannot be resolved due to justifiable constraints.

The forum also adopted 09 proposed reform priorities across 4 areas to continue dialogue and seek appropriate solutions before the 17th Lao Business Forum.

H.E. the Deputy Prime Minister closed the meeting by expressing the government’s commitment to further strengthen the foundations of the market economy, reorganize and optimize the government structure for maximum effectiveness, reduce business startup and operational costs, and improve policies and regulations that present obstacles, all to enhance public service efficiency.