Latest news with #XaybandithRasphone
The Star
a day ago
- Business
- The Star
Lao craftsmen, technicians head to Asean skills contest
FILE PHOTO: A Laotian weaver spinning the silk threads taken from the cocoons in the basket beside her. The Laos government aims to enhance technical and vocational skills in line with regional and international standards.- THE STAR VIENTIANE: Laos is hoping for a strong performance at the 14th Asean Skills Competition this year, where they will showcase their skills and professionalism. The competition aims to give visibility and importance to professional education as one of the tools of socio-economic transformation. Deputy Minister of Labour and Social Welfare Phongsaysak Inthalath gave a press conference on Friday (Aug 15) to detail Laos' participation in the contest, which takes place in the Philippines from August 21-31. Vice President of the Lao National Chamber of Commerce and Industry, Xaybandith Rasphone, was among those attending the gathering. Laos' participation reflects the government's ongoing efforts to enhance technical and vocational skills in line with regional and international standards. The Lao delegation includes 32 participants, comprising 10 competitors, 10 experts, seven delegation members, and five labour unit observers. Of the total, five are women, reflecting the country's commitment to gender inclusion in the field of skills development. The team will compete in five professional skill areas, including graphic design technology and web technologies. Laos has participated in 12 previous Asean Skills Competitions. The nation achieved a notable victory at the 10th event in Hanoi, winning a silver medal in electrical Installation. To date, Lao contestants have earned 24 Asean Skills Certificates, recognising their technical competence at the regional level. The competition is seen as a critical platform to ensure Lao workers can compete effectively in the regional labour market. 'As Asean moves towards deeper economic integration, the recognition of skilled workers' qualifications across member countries becomes increasingly important,' Phongsaysak said. 'The Asean Skills Competition is not only a venue for showcasing talent but also a powerful tool to raise training standards and promote employment opportunities for our youth.' The competition aims to promote cooperation among Asean member states in the field of vocational education and training, strengthen ties between the public and private sectors in skills development, provide a platform for young professionals to demonstrate their abilities and gain recognition, and link national skill development programmes to international standards The 14th competition is expected to host hundreds of skilled workers from across South-East Asia, competing in a wide range of trade and technical fields. The competition takes place every two years and is the biggest vocational education and skills event in the Asean region. The competitors represent the best of their peers and are selected from skills competitions in Asean member countries and regions. - Vientiane Times/ANN
The Star
04-05-2025
- Business
- The Star
Laos seeks solutions to address new United States tariff hikes
VIENTIANE (Laotian Times): Laos' exports to the United States are expected to face significant impacts following the recently announced tariff increases, prompting the Lao government to seek urgent solutions. Xaybandith Rasphone, Vice President of the Lao National Chamber of Commerce and Industry (LNCCI), stated that new United States tariff measures pose major concerns for Laos' export sector, according to the Vientiane Times. The official noted that despite the 90-day negotiation period and the marginally reduced rate of 10 per cent afforded to Laos compared to other affected nations, the economic ramifications of the elevated reciprocal tariffs remained unavoidable. Within the Association of Southeast Asian Nations (Asean), Laos currently faces the second-highest tariff increase at 48 percent, surpassed only by Cambodia. This substantial rate has generated considerable apprehension throughout the country's export industries. In response to this economic challenge, the Ministry of Industry and Commerce has initiated collaborative efforts with private sector representatives to formulate appropriate countermeasures. Xaybandith noted that the government, in cooperation with industry stakeholders, had been conducting a comprehensive analysis of the situation since the tariffs were announced. He emphasised that the task force—comprising leading figures from the private sector—was consulting directly with export-oriented enterprises to craft practical solutions. He also highlighted that bilateral trade between Laos and the United States reached approximately US$500–600 million last fiscal year, driven in part by increased activity in special economic zones. This growth, he said, underscores what is at stake should trade relations be disrupted. The chamber vice president stressed that the manufacturing sector would be hit particularly hard, as tariffs shift from single-digit to double-digit rates. He warned that such changes could threaten employment and slow investment if production operations are forced to pause. According to Xaybandith, a key challenge for manufacturers lies in their substantial capital investment in production materials, costs that may become unsustainable if American importers reduce or suspend orders. He further remarked that Laos' commercial ties with US partners represent years of development and mutual trust. Establishing similar relationships in alternative markets, he noted, would be both time-consuming and resource-intensive. In closing, the LNCCI representative confirmed that the government intends to carry out detailed deliberations on possible solutions and will undertake a thorough analysis of trade volumes across individual product categories. - Laotian Times
