VIENTIANE, LAO PDR, July 24, 2025 . The Ministry of Industry and Commerce (MOIC), in close collaboration with key development partners, hosted an essential meeting today to accelerate trade and private sector development in the Lao PDR. The Trade and Private Sector Working Group Meeting brought together senior government officials, business leaders and international partners to align on strategies that will drive inclusive growth and support Laos’s transition from Least Developed Country (LDC) status.

The event opened with remarks from H.E. Mr. Malaithong Kommasith, Minister of Industry and Commerce, and H.E. Mr. Mark Gallagher, Ambassador of the European Union. Both emphasized the critical role of the private sector as a driver of innovation, job creation, and long-term economic resilience. “The private sector is the engine of our economy,” said Minister Malaithong. “Its growth and dynamism are central to our national priorities. As we move toward LDC graduation and pursue the goals of our 10^th National Socio-Economic Development Plan, creating a vibrant, investor-friendly environment is more important than ever.” A key highlight of the meeting was the presentation of the Draft Five-Year Development Plan (2026–2030) by trade expert Robert Kirk. This forward-looking roadmap lays out strategic goals and measurable targets for the trade, manufacturing, energy, and mining sectors, aiming to strengthen competitiveness and deepen regional integration.

Participants offered valuable feedback during an open Q&A session, ensuring the plan reflects shared priorities and is both ambitious and achievable.

EU Ambassador H.E. Mr. Mark Gallagher emphasized the importance of implementation:

“Success will come not just from good plans, but from coordinated and effective action. By aligning our efforts and maintaining strong partnerships, this Five-Year Plan can help unlock Laos’s potential and ensure a smooth and sustainable transition from LDC status.”

The meeting also featured a presentation by the Asian Development Bank (ADB) Trade Team on preliminary findings from an assessment of Non-Tariff Measures (NTMs), using data from the Lao Trade Portal. The analysis underscored the need to streamline regulations to reduce trade barriers and facilitate more efficient cross-border commerce.

In her closing remarks, H.E. Ms. Heather Variava, Ambassador of the United States to the Lao PDR, highlighted the importance of collaboration and shared responsibility:

“The United States strongly encourages private sector investment in the Lao PDR and remains committed to helping unlock the full potential of both the U.S. and the Lao PDR economies to promote fair trade and investment.”

Minister Malaithong concluded the meeting with a strong call to action:

“The constructive dialogue and active participation today reflect a shared commitment to shaping a prosperous future for Laos. The draft Five-Year Plan is a cornerstone of our development agenda and is closely aligned with the 10th NSEDP. We urge all stakeholders to continue their close collaboration with MOIC as we finalize this vital strategy.”

The Ministry of Industry and Commerce extends its deep appreciation to all participants for their continued partnership and dedication to advancing Laos’s economic transformation.

For Lao language, click the link here.