The recipients of the awards gather for a group photo.

Govt lauds business leaders’ role in national development at LNCCI awards

Prime Minister Sonexay Siphandone praised the creative thinking, diligence and unwavering spirit of Lao entrepreneurs at the 35th anniversary awards ceremony of the Lao National Chamber of Commerce and Industry (LNCCI) on Friday.
The ceremony recognised 89 business entities, including Lao-owned and foreign-owned enterprises, spanning 12 sectors: manufacturing and processing, trade, information technology, energy and mining, industrial production, services, transportation, agriculture and forestry, banking and financial institutions, tourism, hotels and restaurants, advertising and event management, and construction and real estate.
The high-profile event at the National Convention Centre (NCC) brought together government and business leaders, including Minister of Industry and Commerce Malaythong Kommasith, deputy ministers, and LNCCI presidents and vice presidents, representatives of the government and business associations, and entrepreneurs from across the country.
“This is not just an awards ceremony, but society’s recognition of the vital contributions made by the business sector and leading entrepreneurs to our nation’s socio-economic development,” Prime Minister Sonexay said.
“The economic success of our country owes much to you. When entrepreneurs establish new businesses, they create employment opportunities, generate income for everyone and the nation. When any business expands, it drives production and attracts investment.”
LNCCI Vice President Daovane Phachanthavong highlighted the organisation’s three-decade journey as a crucial bridge between the government and the private sector.
“Throughout this period, LNCCI has worked diligently to create a conducive business environment for trade, investment and services, while encouraging the business sector to adapt, persevere and develop with resilience through various challenges,” Mr Daovone said.
Prime Minister Sonexay emphasised that these contributions are not abstract concepts but real growth mechanisms that create jobs, help families and elevate the nation’s standing.
He reaffirmed the government’s commitment to continuously improve the business environment through clear policies, transparent laws and reliable regulations.
“The government has always been attentive to improving the business environment, ensuring it can be implemented effectively with high efficiency,” he said.
“We have established policies and determined laws and regulations that guarantee certainty, transparency and provide a foundation for business operations.”
Looking ahead to the 10th National Socio-Economic Development Plan (2026-2030), Prime Minister Sonexay outlined the government’s green and sustainable development policy, and sought stronger private sector participation in implementing the economic independence strategy known as “self-reliant economy”.
He identified four strategic priorities where the private sector’s contribution is essential
“As the cells of our nation’s economy, the private sector must boldly operate businesses according to green and sustainable economic policies, considering sustainability and environmental friendliness in all operations whilst contributing to social development,” he said.
The private sector must play a crucial role in developing robust infrastructure to maximise benefits from Laos’ strategic position as a connected country. “Investment in connectivity with neighbouring countries such as China, Vietnam and nearby nations will boost trade, investment and tourism,” he noted.
Businesses must create new development zones, industrial estates and special economic zones to become regional production bases, improving infrastructure and expanding international trade cooperation to create more opportunities for national economic growth.
“To achieve the goal of economic independence and self-reliance, businesses must play a crucial role in promoting innovation and human resource development, including the use of modern technology, creating value-added products and services, and transitioning to the digital economy,” the Prime Minister emphasised.
In his closing remarks, Prime Minister Siphandone told the recipients of the awards that they have become exemplary models of excellent Lao entrepreneurs. “Your excellence will be significant inspiration for young Lao entrepreneurs,” he said, underscoring how these achievements demonstrate the transformative power of the private sector in building a prosperous and sustainable future for Laos.
The ceremony marked a milestone in recognising the business community’s indispensable role in driving the nation’s socio-economic transformation and achieving the government’s ambitious development goals.

By Bounfaeng Phaymanivong
(Latest Update November 17, 2025)