|A seminar for the Vietnamese business community based in Laos discusses ways to help them stabilise their production and business
Vietnamese Ambassador to Laos Nguyen Ba Hung chaired a seminar on July 12 for the Vietnamese business community based in Laos with the aim of devising solutions aimed at removing challenges and obstacles that epidemic-hit firms suffer from as a means of helping them stabilise their production and business.
During the seminar, Ambassador Hung offered insights on a range of important information regarding the impact of the COVID-19 epidemic in terms of both the regional and global economic situation. Indeed, he provided specific information concerning the economies of the two nations, as well as economic, trade, and investment relations between the pair.
The Vietnamese diplomat presented a number of major proposals that could be implemented in the near future upon the two governments easing regulations on epidemic prevention and control. This includes the resumption of an air route between the two countries and reopening international border gates to allow both Vietnamese and Laotian citizens to commute for the purpose of doing business.
He also touched upon some of the difficulties facing local businesses that are in the process of investing and operating within Laos in the context of negligible support provided by the Laotian Government.
This includes the slow-paced implementation of post-epidemic economic recovery policies, along with a range of mechanisms and schemes that have failed to encourage foreign investors, including Vietnamese enterprises.
Ambassador Hung highlighted the importance of offering mutual support, sharing various information, and detailing experience among the business community in this challenging period. These efforts must be initiated to change the way business activities are managed, to take full advantage of Industry 4.0 developments, as well as recognising shifts towards a digital economy.
|Vietnamese Ambassador to Laos Nguyen Ba Hung speaks at the event
With regard to the medium and long term, when Laos finishes its transportation infrastructure along its North-South and East-West corridors to connect China, Laos, Vietnam, and Thailand, it will open up an array of new investment opportunities, meaning it is the responsibility of firms to be fully prepared.
Business representatives present at the seminar raised a number of difficulties and concerns relating to production and business activities in Laos, especially with regard to the period of being adversely affected by the epidemic. They underlined the necessity of being flexible and adaptable to overcome difficulties through appropriate labour assignment, improving corporate governance efficiency, maintaining production activities, in addition to ensuring jobs and income for workers.
Despite this, labour-intensive agriculture, rubber plantation, and processing enterprises must remain flexible when it comes to applying regulations on epidemic prevention and control measures, with both Vietnam and Laos recording no new COVID-19 cases within their respective communities for approximately three months.
Duong Dinh Bang, head of the Representative Office of the Vietnam Rubber Industry Group in Laos, suggested the two governments move to allow employees from firms to enter Laos and subsequently undergo quarantine at their businesses, providing they fully comply with epidemic prevention regulations as a way of saving costs. This will create favourable conditions for the import of equipment used in construction projects and exports activities.