VIENTIANE, Nov. 17 (Xinhua) -- As online sales of goods and services continue to grow in Laos, the government has declared the bolstering of e-commerce as one of its strategic development aims for 2016-2025, according to a report issued on Friday by Lao National Chamber of Commerce and Industry.
The Lao government has made promoting small and medium enterprises (SMEs) one of its priority targets to drive economic growth, Latthana Douangboupha, deputy director general of the SMEs Promotion Department under the Lao Ministry of Industry and Commerce, said at a seminar in Lao capital Vientiane on Wednesday.
The seminar focused on e-commerce policy development and strategy implementation for strengthening SMEs in Laos in the digital era.
Representatives of companies in Laos participated in the seminar to learn about and share experiences in e-commerce and digital business for the development of their enterprises and to compete with regional businesses.
Though various SMEs are using e-commerce systems for sales and business management, there are development and improvement plans for digital business operations that should be promoted by the government, said Latthana.
The sharing of experiences and learning from this seminar will help develop the business of SMEs and strengthen them in order to compete with overseas businesses.
E-commerce is on the rise in Laos and has been in the spotlight during pandemic-related restrictions. The Lao government has acknowledged the need for clear regulations for investors and issued a new decree to support the growth of this new way of doing business. The decree also led to greater confidence among traders and consumers with regard to digital transactions.
However, there is still a need to develop different sectors that are vital for the adoption of e-commerce in Laos and to maximize the potential of this mode of doing business.
The Lao government passed a Law on Electronic Transactions in 2012 and a Decree on Electronic Commerce in 2021. It has also focused on ways to encourage growth and generate revenues from electronic commerce.