| Title | Lao SMEs Development for Integrating the ASEAN Economic Community (AEC) Based on the Seventh National Socio Economic Development Plan of Lao by Carrying out the GIZ Laos Analysis Model for Region |
|---|---|
| ID_Doc | 77351 |
| Authors | Vorakoth, B |
| Title | Lao SMEs Development for Integrating the ASEAN Economic Community (AEC) Based on the Seventh National Socio Economic Development Plan of Lao by Carrying out the GIZ Laos Analysis Model for Region |
| Year | 2016 |
| Published | |
| Abstract | For a small and landlocked country like Laos, the AEC offers great potential by improving the access to this regional market. Its single production base increases the opportunities to become part of regional value chains. ASEAN member states already account for more than half of the total foreign trade in Laos. However, the opportunities of the AEC are accompanied by a set of challenges for both the public and private sector. And Lao government is confronted with the challenging task to implement all the necessary regulatory changes in coherence with ASEAN agreements. This does not only require extensive technical knowledge, but also the coordination of a large number of government actors from different sectors and agencies. In the face of the increasing liberalisation, the business sector will be confronted with growing competition from more advanced ASEAN economies. At the moment, Laos' main exports are energy and mineral resources, both of which only have limited effects on local employment. The vast majority of businesses in Laos are SMEs, promoting their development offers great leverage to make the integration into the AEC more inclusive and sustainable. |
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