Lao producers face challenges in increasing domestic products to reduce imports

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.