VIENTIANE (Xinhua): Local producers in Laos are grappling with various challenges in meeting the requirements of domestic markets in order to reduce imports.
Local producers are facing various problems, resulting in an increase in the cost of production, and the products cannot compete with imported goods from neighbouring countries whose prices are the same or lower, Lao national TV on Friday quoted Deputy Director of the Vientiane Industry and Commerce Department under the Lao Ministry of Industry and Commerce, Nunta Sanouvong, said at a meeting, held on Tuesday (Oct 17), that focused on finding solutions to economic and financial difficulties.
Consumption of domestic products is still not strong, there is a premium for goods imported from other countries, and the development of Lao products is still not as good as it should be, said Nunta.
Local products are also affected by high prices, packaging that is not attractive, and the lack of market research, he added.
