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Cambodia: Agricultural exports top 2M tonnes in Jan-Feb: data

Cambodia exported nearly 2.073 million tonnes of agricultural products in the first two months of 2022, up by over 6.4 per cent year-on-year from more than 1.947 million tonnes, according to Minister of Agriculture, Forestry and Fisheries Veng Sakhon.

By category, milled rice amounted to 103,058 tonnes, surging by 26,836 tonnes (35.21 per cent) year-on-year, while paddy clocked in at 651,101 tonnes, climbing by 92,068 tonnes (16.47 per cent) year-on-year, Sakhon said in a statement, citing data from the National Phytosanitary Database.

“Other agricultural products besides paddy and milled rice” weighed in at 1,318,642.70 tonnes, up by 0.50 per cent year-on-year, said the statement, posted on the minister’s Facebook page.

The Kingdom’s agricultural exports from January-February were shipped to a total of 52 countries and territories, including markets in Europe, ASEAN and elsewhere in Asia, the statement added. 

The minister told The Post on March 1 that Cambodia’s agricultural exports over the period were driven up by an increase in both market demand and production by farmers.

“Given the current circumstances, some countries cannot produce, but Cambodia can – others have high demand for agricultural products.

“As of late, people in a number of countries have been switching out crops and trying new ones for more profitable means. And, Cambodia has a favourable climate – all of these factor into the upswing in agricultural exports seen over the two months,” Sakhon said.

For full article, please read here

 

Author: Hom Phanet 

Source: The Phnom Penh Post 

Thais urged to embrace disruptive tech

Accelerating the roll-out of digital and disruptive technologies while promoting a circular economy approach in key industries could generate up to US$3.4 billion per year through investment flows, savings and revenues for Thailand, according to a new World Bank Group report launched on Tuesday.

Thailand Country Private Sector Diagnostic (CPSD), a joint report by the World Bank and International Finance Corporation (IFC), said the country needed to foster a new innovation-led growth model while addressing existing investment constraints to create better jobs and achieve its goal of becoming a high-income country.

The report found that accelerating the adoption of digital technology could bring in an estimated additional capital flow of $1.8 billion annually. Most of it would come from new investments in mobility technology, big data and analytics, health tech, digital media and entertainment, and from the expansion of sectors where Thailand is already well-positioned among regional peers, including e-commerce and fintech.

The report said the adoption of a circular economy can generate cost savings and additional revenue of as much as $1.6 billion per year for the private sector, especially in traditional sectors such as food and agriculture, construction and electronics. It stated that Thailand could also explore a range of areas, including regenerative farming and organic waste products, in order to take advantage of high-impact circular economy opportunities.

Birgit Hansl, World Bank country manager for Thailand, said that while it was investing in market-enabling infrastructure, Thailand needed to build skills for the future. She said the country needed to equip young people to become the next generation of coders, digital creators and tech entrepreneurs to drive Thailand's resilient, sustainable and inclusive growth. To pursue its vision of high growth, Thailand also needs to address key investment and sector-specific constraints impacting the private sector, said Jane Yuan Xu, IFC country manager for Thailand and Myanmar.

The report highlighted the fact that strengthening structural reform implementation can help create an enabling environment for businesses, promoting investments in digital innovation and circular technology. The report suggested accelerated reforms were urgently needed in the following areas: promoting market competition, removing restrictions to foreign direct investments, enabling access to innovation finance, and expanding skills for the future.

Source: Bangkok Post

Laos to increase exports in agricultural products through food safety, plant health

In the Lao PDR, fruits, vegetables and plant products have significant export potential to the European Union (EU), the Association of Southeast Asian Nations and China.

The EU in particular, accounted for €63 million worth of agricultural exports from the Lao PDR in 2019, representing 22.1% of total trade. Not only do these exports contribute to the country’s economic growth, but they also foster domestic employment in one of the key sectors in the country.

The International Trade Centre’s (ITC) analysis indicates that speciality agriculture from Lao PDR has significant export potential, up to US$634 million. However, agriculture and food-related products are among the most regulated sectors in international trade. Consumers in importing countries expect products that are safe for human health, and at the same time, safe for animals, plants, and the environment.

To ensure food safety and meet the regulatory framework for the control of plant health and pesticide residues in fruits and vegetables, the International Trade Centre’s Systematic Mechanism for Safer Trade (SYMST) project improves food safety and plant health through better governance in the Lao PDR. [Read more...]


Source: Lao News Agency


Cambodia third in RCEP income gains, growth in exports

Cambodia ranked third in both real income gains and export growth among Regional Comprehensive Economic Partnership (RCEP) members, according to the World Bank (WB).

In its recent working paper entitled “Estimating the Economic and Distributional Impacts of the Regional Comprehensive Economic Partnership”, the Washington-based lender said the Kingdom came in third after Vietnam and Malaysia, in terms of real income gains.

On export growth, the report said Cambodia was expected to log a rise of 6.5 per cent, the highest after Vietnam and Japan at 11.4 per cent and 8.9 per cent, respectively, the 46-page research paper said.

The RCEP is the world’s largest trade pact, signed on November 15, 2020 by the 10 ASEAN countries and five other Asia-Pacific countries – Australia, China, Japan, New Zealand and South Korea – and entering into force in Cambodia on January 1, 2022.

Ratification is still pending in South Korea and four ASEAN countries – Indonesia, Malaysia, Myanmar and the Philippines.

The working paper said the deal has the potential to lift 27 million additional people to middle-class status by 2035.

“Considering the full scenario, with reductions in tariffs, non-tariff measures, and trade costs, Lao PDR, Thailand, Cambodia, Vietnam and Malaysia benefit the most. These positive gains are magnified when a productivity kick is assumed.

“Under this scenario, the real income in Vietnam and Malaysia increases almost five per cent. In Japan, the country that gains less under this scenario, the real income increases by 0.5 per cent.

“Interestingly for Japan, the impact of the four RCEP scenarios is similar, which suggests that most gains are associated with a fall in tariffs, in contrast to the rest of the countries, where the fall in tariffs leads to very small impacts, or even a negative impact as in Cambodia and Vietnam.

For full article, please read here


Author: May Kunmakara

Source: The Phnom Penh Post 

Laos Reduces VAT to Support Hard-hit Economy

Laos has lowered its value-added tax (VAT) rate as part of the government’s post-Covid-19 economic recovery efforts.

Under new regulations issued in December, the standard VAT rate has been reduced from 10 percent to seven percent, while also providing for more business activities that are exempted from VAT.

Minerals and power-related activities will also now see a new VAT calculation.

The amended VAT Law came into effect on 1 January following a severe economic downturn in Laos that has seen the country experience its slowest growth in 30 years, ASEAN Briefing reports.

Laos is also suffering from one of the highest inflation rates in the region, with the Lao kip depreciating to its lowest value in 15 years.

While Laos has seen 6-8% economic growth for the past decade, the World Bank’s Global Economic Prospects report suggests Laos will see economic growth of 4.5 percent in 2022, however, and could rebound to see 4.8 percent growth in 2023.

Under the amended law, the standard VAT rate for the supply of goods and services, and importing goods, has been reduced from ten percent to seven percent.

Activities exempt from VAT now include electricity imports, exported minerals, export of electricity, and the supply of electricity to electricity enterprises in Laos.


Source: The Laotian Times

Businesses, Government, and Development Partners Support Responsible Business Conduct in Laos

Last Thursday, the Office of the Embassy of Canada, AustCham, The European Chamber of Commerce and Industry, the European Union, and the British Business Group in Laos co-hosted the 3rd Responsible Business Conduct Forum to share their commitment to and best practices in corporate social responsibility (CSR).

Exchanging information on CSR policies, procedures, and action plans supports further the government of Lao PDR in attracting and retaining quality investors.

The RBC Forum, which attracted more than 100 participants online, saw business leaders share their experiences in implementing CSR activities with members of the Lao private sector, government officials, development partners, international organizations, and civil society. Sectors of focus for the full-day event included Mining, Agriculture, Renewable Energy, and Public Policy.

“Businesses can only flourish when the communities and ecosystems in which they operate are healthy. Many companies now undertake environmental sustainability not just as a legal obligation, but as a business opportunity and moral imperative,” said Canada’s Ambassador to Lao PDR, H.E. Sarah Taylor, in opening the Forum. “Our objective is to work with local business communities, civil society organizations, foreign governments and communities as well as other stakeholders to foster and promote responsible business practices and thus support sustainable economic growth and shared value.”

Ina Marčiulionytë, EU Ambassador to Laos added “During a critical period like the COVID-19 pandemic filled with uncertainty, it is important to stay strongly committed to working together in a sustainable way. As Lao PDR prepares itself to reopen for tourism and attract new investments, to support its economic recovery from the pandemic, the issue of an environmentally and socially responsible private sector has become crucial. Indeed, the private sector has a central role to play in what we call the “Build Back Better” agenda following the pandemic.”

The 2022 RBC Forum featured a series of panel discussions that illustrated the benefits of a strong commitment to CSR. Participants heard that practical and cost-effective CSR measures resulted in sustainable consumption and production, enhanced employee benefits, and could be integrated into international mechanisms such as the Global Reporting Initiative. The forum highlighted that responsible businesses should incorporate CSR measures as part of their business strategy, and be informed by close consultation with local populations.[read more]


Source: The Laotian Times

PH benefits from GSP+ scheme; wants FTA with EU

A trade official is pushing for the extension of the European Union’s (EU) trade preferences program while pursuing a possible free trade agreement (FTA) with the bloc for boosting bilateral trade relations.
 
Angelo Salvador Benedictos, director of the DTI-Bureau of International Trade Relations, said they want the renewal of the EU Generalised Scheme of Preferences Plus (GSP+) as “it benefits a lot of industries, a lot of areas in the Philippines, and of course the Philippines.”
 
The current EU GSP+ scheme, which allows for the duty-free entry of 6,274 Philippine products into Europe, will expire by the end of 2023.
 
“So we are benefiting from it, we are making use of it. It is good to us and it is good for Europe. And in the short term, we must be able to renew and extend, and in the long term, please let us think about a better way to trade between Europe and the Philippines and that we could think about the FTA that we have been discussing…,” he said in a webinar.
 
Benedictos said there were already two rounds of Philippines-EU FTA negotiations.
 
According to the BITR-Bilateral Relations Division, the Philippine strategic objectives in engaging the EU in an FTA include securing additional duty-free market access beyond those covered under the GSP+ scheme and on a permanent basis; providing a conducive framework for attracting greater investments from the EU; and being at par with other Asean member states who are aggressively pursuing FTAs with the EU.
 
Kristiyana Kalcheva, policy officer for bilateral relations in trade and sustainable development and the EU GSP in the European Commission’s (EC) directorate-general for trade, said as the current GSP regulation expires on Dec. 31, 2023, the EC made a proposal for a new regulation last September 22, which the European Parliament and the Council are currently discussing.
 
“The aim is to have the new GSP regulation adopted by 2022, with application from 1 January 2024, to ensure predictability and a smooth transition,” she said.
 
Kalcheva said one important aspect is the Commission’s proposal for GSP+ beneficiaries to reapply for the scheme.
 
“This is because there are new conditions such as the conventions and also an element which involves a plan of action for the implementation of conventions so a reapplication is the best way to ensure that beneficiaries abide by the new proposed conditions for entering the GSP+,” she added.
 
Meanwhile, the country is urged anew to increase the utilization of the EU GSP+ utilization.
 
Luc Veron, EU ambassador and head of delegation of the EU delegation to the Philippines, said the country’s utilization rate of EU GSP+ preferences reached 75 percent in 2020.
 
“Over the last two years, while the economic system and international trade faced a lot of challenges due to the pandemic, we have seen the usefulness of GSP+ in sustaining the overall EU-Philippines trade in goods. That is why the EU works closely with its partner, the Philippines, and that is to make sure that the potential trade benefit is maximized. For sure, if we work together, we can increase the utilization rate even closer to 100 percent and increase the overall value of Philippine exports to the EU,” he said.
 
Veron said agriculture goods, including processed foods and fishery products and manufactured goods, highly benefit from GSP+.
 
In a separate interview, Sergio R. Ortiz-Luis Jr., president of the Philippine Exporters Confederation, Inc. (PHILEXPORT) said that at least 500 PHILEXPORT members are actively exporting to the European Union.
 
“The extension of the EU GSP+ and an EU FTA will augur well in developing and growing this supply chain and actual export performance”, he said.  "We just need to address issues such as high shipping cost and raw material availability for more finished products to qualify".

February 23, 2022

Greater support to boost agricultural productivity

An economic policy expert and businesses are pushing for greater support to bolster the productivity of the agricultural sector, a major pillar of the economy that is expected to recover faster from the pandemic.
 
Economist Dr. Bernardo Villegas said food and agribusiness is among the sectors that can experience a “V-shaped” rebound, along with health and wellness, digital industry, and education sector.
 
“More and more we should think of agribusiness not just as farming but as post-harvest, cold storage, supply chain, logistics, processing, and retailing,” he said during a webinar of Center for Strategy, Enterprise and Intelligence (CenSEI) on Philippine economic prospects.
 
Villegas said low agricultural productivity is the country’s “biggest weakness” needing a lot of solutions.
 
To boost agricultural output, Villegas cited as an example Malaysia wherein a large corporation works with thousands of smallholders getting into more productive high value crops like palm oil and rubber.
 
“We can do that for coconut, plus all the products that can be intercropped below the coconut trees –cacao, coffee, high-value products, etc. but that really requires a great deal of organization…,” he added.
 
Philippine Chamber of Commerce and Industry (PCCI) president George Barcelon said there is “need to do” in the agrarian reform law and irrigation, and developing farm-to-market roads.
 
“In the past year and a half, agriculture is one sector that has not really performed well. Manufacturing sector did perform well, the services sector did perform well, but not in the agriculture sector but that is one of our pillars (of growth),” said Barcelon, also Chairman of the Philippine Exporters Confederation, Inc. (PHILEXPORT).
 
He added the government thus needs to focus on the agriculture sector.
 
Meanwhile, Villegas also identified sectors that will take some time to recover from pandemic, or those which will be experiencing an “L-shaped” rebound.
 
He said these include travel and tourism, except domestic tourism; transport and automotive industry; malls and other retailing outlets; dine-in restaurants; public entertainment; and high-end real estate.
 
“Domestic tourism can recover rather fast if we avoid the lockdowns and we continue improving the access to various tourism destinations,” Villegas said.
 
“In real estate, what does not suffer is what we call economic and low-cost housing –units that range from P1 million to about P6 million… that price range has not actually been hit by the pandemic and that actually is an area where you still have a large shortage of units,” he added.

February 23, 2022

FDA extends grace period for complying with hazardous substances registration rules

Household/urban hazardous substances (HUHS) establishments have been given a two-year extension, or until December 31, 2023, to comply with the new product registration requirements of the Food and Drug Administration (FDA).

The two-year transitory period extension covers only product registration and does not apply to licensing requirements, FDA emphasized.

Thus, effective January 1, 2022, a License to Operate (LTO) becomes mandatory for all establishments engaged or intending to engage in HUHS-related activities.

FDA Circular No. 2021-011-A, issued last January 21, extends for two years the transitory period for HUHS establishments to comply with the new registration policy.

The order comes after appeals from the HUHS sector for a longer compliance period to secure marketing authorization for their products as well as in view of the ongoing pandemic-related challenges the country faces.

Earlier, FDA Circular No. 2020-025 had reinstated the requirements of licensing and registration for importers, exporters, manufacturers, toll manufacturers, wholesalers, distributors, retailers, or re-packers of those engaged in certain HUHS substances.

The circular was supposed to take effect last January 1 after the grace period for compliance ended in December.

But FDA through Circular 2021-011-A now establishes a two-year transitory period for securing a Certificate of Product Registration (CPR) for HUHS products as well as provides an interim guideline for product registration and product labeling during this time.

The issuance applies to HUHS products under Categories III and IV and to establishments engaged or intending to engage in their manufacture, importation, exportation, distribution, sale, offer for sale, transfer, promotion, advertising and/or sponsorship.

Moreover, the covered products are those intended for consumer or institutional use only and do not include products for industrial use.

Category III covers cleaners, fresheners and deodorizers, dishwashing and laundry detergents/soaps, disinfectants, fabric conditioners/softeners and ironing aids, fresheners and aromatic diffusers, moisture-absorbing agents, polishes, and pool chemicals.

Covered under Category IV are adhesives, glues and sealants; automotive, furniture and jewelry care and restoring products; button batteries; coloring materials; fabric dyes and tattoo dyes; paints, varnishes and thinners; paint stripper; and rut remover/degreasers.

Circular 2021-011-A states: “The 2-year transitory period extension shall apply to the registration of HUHS products. Hence, from 01 January 2022 to 31 December 2023, HUHS establishments may continue to distribute their HUHS products without a CPR from the FDA. However, effective 01 January 2024, a CPR shall be mandatory for all HUHS products distributed in the market.” 

But the extension does not cover licensing requirements.

“The 2-year transitory period extension shall not apply to the licensing of HUHS establishments. Hence, effective 01 January 2022, [an] LTO as HUHS establishment shall be mandatory for all establishments engaged or intending to engage in HUHS- related activities,” the FDA explained.

The agency added that during the grace period, HUHS establishments should also deplete their remaining stocks of HUHS products with labels not compliant with the labeling requirements set forth in Annex J of Circular 2020-025, including with the Globally Harmonized System (GHS) of classifying and labeling chemical requirements.

Circular 2021-011-A also provides the rules covering other authorizations, including customs clearances, sales and promo permits, and Certificate of Free Sale, during the transitory period.

Companies are not mandated to secure sales and promo permits for covered HUHS products, and are also not required to obtain customs clearances as these need the issuance of a valid CPR.

For advertising and sales promotion activities and customs-related concerns, copies of this circular and valid LTO may be presented to the government and non-government entities instead of a valid FDA-issued CPR.

FDA Circular 2020-025 does not cover the following for its reinstated licensing and
registration requirements:

•    Establishments engaged in raw materials used in the production of HUHS
products
•    Retailers of HUHS products
•    HUHS products which are donated, imported for personal use, intended for
exhibits, intended for exclusive use in agricultural setting; intended for other health-related/medical-related use, and intended for research and development and laboratory analysis

FDA Circular 2020-025 provides the implementing guidelines for Administrative Order No. 2019-0019, which reinstates the requirements of licensing for the HUHS sector.

Specifically, this circular establishes the guidelines for the licensing and inspection of HUHS establishments; establishes the guidelines for registration and other relevant authorizations for HUHS products; and updates the categorization of HUHS products. It also seeks to institutionalize the GHS as the new hazard category for labeling of
HUHS products.

It likewise sets out to ensure compliance by HUHS establishments to FDA regulatory standards, such as Good Manufacturing Practice, Good Distribution Practice, Good Storage Practice, and Good Labeling Practice.

February 23, 2022

Textile industry urged to prioritize upskilling of workers, machinery upgrades

Garments and textile industry players are advised to strengthen the skills of their workforce and upgrade their machinery to reduce costs, as they carve out their own market niche to respond to competition.

During the recent 2022 Tela Conference, Marikina Rep. Stella Quimbo said the government also needs to help address other sources of low productivity in the industry, particularly in terms of lowering power and shipping costs.

Quimbo said the overall competitiveness of the textile industry has been declining over the last two decades amid shrinking labor productivity that may have led to higher prices of Philippine textiles compared to that in other Southeast Asian countries.

She cited an earlier study of the Philippine Institute for Development Studies (PIDS) indicating reasons for the declining competitiveness of the industry, including low worker productivity, low design capabilities, high costs of power and shipping, and low financial capital to invest in merchandising and technology required for value-added services, among others.

Based on this study result, Quimbo urged firms to achieve “economies of scale” by ramping up business operations to reduce unit costs.

“What factories need to do to scale up for more efficient production would include for example investing in machines, again having larger factories or having an assembly line approach to the extent possible,” she said, adding others can have a small semblance of an assembly line only for improving efficiency.

She further cited a 2019 study of the International Labour Organization (ILO) indicating reasons for declining labor productivity in the garments and textile industries in Asian countries, including the Philippines, include lack of adequate operator and management skills, and poor production planning, among others.

Quimbo said there are interventions that can be implemented at the factory level, including upskilling of workers and upgrading of machinery.

She said the Department of Science and Technology-Philippine Textile Research Institute (DOST-PTRI) has already done a lot of research and development (R&D) for the local textile industry sector.

“My humble suggestion is I hope we should not waste that gain. I think we can leverage whatever R&D efforts the DOST has engaged in. We leverage on that so that we can obviously address the other sources of inefficiencies in the industry,” she added.

Quimbo said the Technical Education and Skills Development Authority (TESDA) provides skills training, while the Department of Trade and Industry’s (DTI) financing arm, the Small Business Corporation (SBCorp), is making available credit loans for textile factories.

“In addition, we really need a whole-of-government approach to help the textile industry. There are many concerns or many sources of low productivity levels that are really cross-cutting, meaning it is really beyond the textile industry,” she said, citing as an example the high shipping costs which are the main complaint of many exporters.

To become competitive, Quimbo called on garments and textile companies to find specific market niches and develop a comparative advantage.

“I think design is possibly a comparative advantage at least for local footwear,” she said. “The global market is so huge and if we take advantage of that, we are able to have economies of scale locally.”

Quimbo said the government can also step in terms of consolidating orders of small businesses to meet high volume of orders.

February 23, 2022

RCEP generate trade opportunities for investors in Cambodia

The Regional Comprehensive Economic Partnership (RCEP) builds on the existing free trade agreements created by the ASEAN partnership, further developing economic integration and shaping future trade policies.

The RCEP agreement – that came into force on January 1, 2022 – is designed to reduce trade barriers and improve market access for goods in constituent nations. This partnership, in addition to Cambodia’s existing bilateral FTAs with China and South Korea, are key factors when attracting investment to Cambodia.

Vongsey Vissoth, Secretary of State for the Ministry of Economy and Finance, supported this notion at the Macroeconomic Management for 2022 conference. “The Regional Comprehensive Economic Partnership (RCEP) free trade pact and bilateral free trade agreements (FTAs) are one of the key factors attracting foreign direct investments to Cambodia in the post-Covid-19 era,” he said.

The RCEP FTA is the world‘s largest trading bloc with 15 countries, including all ASEAN members, Australia, China, Japan, South Korea, and New Zealand and are key to promoting economic growth in the long run.

Cambodia’s economy is mainly supported by garment, footwear, tourism, real estate, construction and agriculture will all enjoy positive growth this year.

“Cambodia’s national economy is forecast to grow by 5.6 percent in 2022, up from 3 percent in 2021”, adding that “the growth is expected at a higher rate of 6.5 percent in 2023 and up to 7 percent in 2024.”

This growth will support the government’s plan to provide a stimulus package of more than $1 billion for these sectors in 2022, to boost the economy and mitigate the impacts caused by the pandemic.

For full article, please read here


Author: Sok Sithika

Source: Khmer Times 

ASEAN Business Awards Laos & Skill Development 2021

The Lao National Chamber of Commerce and Industry (LNCCI) on Friday presented Asean Business Awards Laos 2021 (ABA Laos) to the winners of the 2021 competition, representing many successful enterprises from a variety of sectors across Laos.

The awards are supported by the Regional Economic Integration of Laos into Asean, Trade and Entrepreneurship Development (RELATED) project run by the German Development Cooperation (GIZ).

Speaking at the ABA Laos Gala Dinner, Executive Vice President of the Lao National Chamber of Commerce and Industry and member of the ASEAN Business Advisory Council, Mr Thanongsinh Kanlagna, said the primary purpose of the ABA Laos is to recognize outstanding enterprises that are innovative and responsive to market needs. The guest of honor at the event and presented the awards to the winners was Deputy Prime Minister, H.E. Prof. Ph.D  Kikeo Khaykhamphithoune. The ceremony was also attended by the German Ambassador to Lao, Ms Annette Knobloch.

Present at the awards ceremony were four Lao winners of the Asean Business Award 2021 named in Brunei, namely the Asean Contract Centre Co., Ltd, Dao Heuang Group Co., Ltd, Ock Pop Tok,and the Angsana Maison Souvannaphoum Hotel. An esteemed panel of judges representing Lao academia and the public and private sectors with the diligent support of our member,  KPMG ensured transparency, fairness and professionalism in the selection process.

The awards are given in four main categories: Lao Priority Integration Sector,SME Excellence, Special Award, and Skill Development.
The five winners of the Lao Priority Integration Sector Excellence Awards were the Generation Public Company (energy), Pheuksa Garden (tourism), Houng Ah Loun Logistics Sole Co., Ltd. (transportation and logistics), Pakxong Development Export-Import Sole Co., Ltd. (agriculture) and Lion Brand Roof Tiles Factory (wholesale/retail).

The winners of the five SME Excellence Awards were Khammany General Service Co., Ltd. for the SME Growth Award, Vientiane Geomatic Services Sole Co., Ltd. were awarded the SME Digitalisation Transformation Award, Star Fintech Sole Co.,Ltd. received the SME Innovation Award, Phathana Tad Ngeuang Waterfall took the SME Employment Award, and the Angsana Maison Souvannaphoum Hotel got the SME Corporate Social ResponsibilityAward. Our silver sponsor, Phongsavanh Insurance (APA) Co., Ltd also received the special award named Start-up Award.

Source: Asean Business Award

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