The Lao National Chamber of Commerce and Industry (LNCCI) on Friday presented “Asean Business Awards Laos 2020 (ABA Laos)” to the 16 winners of this year’s competition, representing many successful enterprises from a variety of sectors across Laos.

Supported by the Regional Economic Integration of Laos into Asean, Trade and Entrepreneurship Development (RELATED) Project of the German Development Cooperation, this award is aimed at shining a spotlight on and giving recognition to the most outstanding companies that have made a significant contribution to Laos’ economic growth and prosperity.

This year the categories outlined by ABA Laos 2020 match the requirements of the Asean Business Awards that will be presented in Vietnam next month. Speaking at the ABA Laos Gala Dinner, Vice President of the Lao National Chamber of Commerce and Industry and Member to the Asean Business Advisory Council, Mr Thanongsingh Kanlagna, said the primary purpose of the ABA Laos is to recognise outstanding enterprises in Laos that are innovative and responsive to market needs. “The winners here tonight are not just ready to compete in Laos but also regionally, if not globally,” he said. Mr Thanongsinh also used the occasion to launch the new “ABA Laos – Journey to Success” video. The short film showcases the inspiring experiences of selected past winners. Their participation in the ABA Laos paid off in terms of increased company visibility, generation of new business, and access to valuable business contacts in the Asean community. The ABA Laos is part of the larger regional Asean Business Awards initiative, which is under the guidance

and implementation of the Asean Business Advisory Council (Asean-BAC). An esteemed panel of judges representing Lao academia and the public and private sectors with the diligent support of KPMG ensured transparency, fairness and professionalism in the selection process. Speaking at the awards ceremony, Minister of Industry and Commerce Mrs Khemmani Pholsena congratulated the award recipients and encouraged other applicants who were unable to meet the requirements to win the awards. “I congratulate those successful companies and encourage other companies to apply for the award in the years to come,” she said, noting that the winners of this year’s event will need to keep up their good work at impressive levels. She said such platforms were important in boosting the confidence of Lao SMEs that have been successful in doing responsible business in Laos. “Recognition of such high standards will enable Lao enterprises to gain more credibility and go beyond frontiers with the confidence to make full use of the Asean Economic Community,” she added. The ABA Awards also provide an opportunity for businesses to garner greater exposure and to expand their network within the Asean business community. The awards fall into three main categories: Lao Priority Integration Sector Awards, and implementation of the Asean Business Advisory Council (Asean-BAC). An esteemed panel of judges representing Lao academia and the public and private sectors with the diligent support of KPMG ensured transparency, fairness and professionalism in the selection process. Speaking at the awards ceremony, Minister of Industry and Commerce Mrs Khemmani Pholsena congratulated the award recipients and encouraged other applicants who were unable to meet the requirements to win the awards. “I congratulate those successful companies and encourage other companies to apply for the award in the years to come,” she said, noting that the winners of this year’s event will need to keep up their good work at impressive levels. She said such platforms were important in boosting the confidence of Lao SMEs that have been successful in doing responsible business in Laos. “Recognition of such high standards will enable Lao enterprises to gain more credibility and go beyond frontiers with the confidence to make full use of the Asean Economic Community,” she added. The ABA Awards also provide an opportunity for businesses to garner greater exposure and to expand their network within the Asean business community. The awards fall into three main categories: Lao Priority Integration Sector Awards,

SME Excellence Awards, and Special Awards. The four winners of the Lao Priority Integration Sectors Excellence Awards were Lomakham Drinking Water and Ice Factory (food and beverage sector), Lao Green Travel Co., Ltd. (tourism sector), Insi Development Construction Sole Co., Ltd. (infrastructure sector) and Star Telecom Co., Ltd. (wholesale/retail sector). The winners of the four SME Excellence Awards were the Saynhaisamphanh Deposit-Taking Microfinance Institution for the SME Employment Award; Lion Roof Tiles Factory was awarded the SME Growth Award; YordXam Enterprise received the Corporate Social Responsibility (CSR) Award; and Panyathip International School took the Digitalisation Award. Eight other companies received special awards in other fields, including the young entrepreneur award, women’s business award, family business award, friend of Laos award, sustainable social enterprise award, and green enterprise and start-up excellence awards.

Deputy Prime Minister and Minister of Finance, Mr Somdy Duangdy, was a guest of honour and presented the awards to the winners. Mrs Khemmani also gave certificates to key sponsors of the event as well as to the judges who selected the award recipients, in recognition of their contribution to the success of the awards.