Some 53 representatives of enterprises, companies and the private sector received a Business Leader Award 2019 on Friday, sending a strong signal of encouragement to businesses as they continue to improve their operations.

The prestigious event took place at the National Convention Centre and was attended by more than 300 people. Organised by the Lao National Chamber of Commerce and Industry in cooperation with the Vientiane Times, the Business Leader Award 2019 was presented to 53 companies engaged in various types of business.

Speaking at the awards ceremony, Executive and President of the Lao National Chamber of Commerce and Industry (LNCCI), Mr Daovone Phachanthavong, said the awards would strengthen and enhance the Lao business sector, making it more competitive and able to contribute to the sustainable development of the economy.
“The awards recognise the outstanding achievements in the business sector along with inspiring Lao businesses to be confident in the face of regional and international competitiveness,” he said.
He congratulated all parties involved, especially the members of the Chamber who represent different types of firms including domestic and foreign-owned businesses operating in Laos.

Also speaking at the ceremony, one of the award recipients, President of the Xaignavong Group Mr Langkone Xaignavong, said he was very proud of the past achievements of his company and their contribution to the growth of the business sector.
“It is our privilege and honour to receive a business leader award this year. It will certainly encourage us to continue to develop our business operations, especially in the supply of pipe products,” he said.
He believed that domestically manufactured pipe products were produced to a high standard using advanced technology.
“I, on behalf of the company, would like the government to consider the use of domestic products rather than importing foreign-made goods, not only pipe products used in waterworks, but many other types of product that can be made in Laos – they should be given priority,” Mr Langkone said.
Also addressing the gathering, Deputy Prime Minister and Minister of Finance Mr Somdy Duangdy congratulated the award recipients, saying this acknowledgement reflected their fresh achievements in business leadership.
“These awards will motivate the recipients to continue to improve. Those companies who did not get an award should also improve themselves in the hope of winning an award in the years to come,” he said.
The government will continue to support the business sector by listening to legitimate comments from the private sector about ways to tackle the barriers to business and other unresolved problems, in order to seek solutions as quickly as possible, Mr Somdy told the gathering.

The event was also attended by Minister to the Prime Minister’s Office Dr Souvanpheng Bouphanouvong, LNCCI President Mr Oudet Souvannavong, and other invited officials.
The LNCCI is the leading business organisation in Laos. It serves as a bridge between state organisations and business units, the representatives of employers, business groups, associations and various enterprises that have been established and operate under the laws of the Lao PDR.

Cr: Vientiane Times