DPM instructs new commerce minister to resolve fuel crisis 

Deputy Prime Minister Prof. Dr Kikeo Khaykhamphithoune has advised the new Minister of Industry and Commerce, Mr Malaythong Kommasith, to urgently resolve the fuel crisis and regulate the price of goods, amid a developing economic crisis.
Prof. Dr Kikeo issued the instruction on Friday when speaking at a ceremony to officially hand over the minister’s position to Mr Malaythong, who replaces Dr Khampheng Saysompheng.

Minister of Industry and Commerce Dr Khampheng Saysompheng (right) signs over his position to his replacement, Mr Malaythong Kommasith.

Mr Malaythong was formerly President of the State Audit Organisation and Dr Khampheng will take up a post as Minister to the Prime Minister’s Office.    
Solutions to these pressing issues are of the utmost importance as the public awaits news of government measures that will ease the hardships they face, the deputy prime minister said.
He also advised Mr Malaythong to do more to promote and better manage the industrial processing and handicraft sectors, as well as boost the manufacture of commercial products, bolster the operations of MSMEs and SMEs, resolve issues around border trade, and find solutions to trade barriers and disputes.
In addition, the new minister should actively guide Party members, staff and employees of the Ministry of Industry and Commerce to fulfil the goals of the ministry’s development strategy for 2021-25, so that set targets could be achieved to stabilise the macro-economy.
Prof. Dr Kikeo also said it was necessary to continue to improve the regulations around trading and investment to ease conditions for businesses and encourage more investors. This should be done in close cooperation with domestic and international businesses.
Furthermore, the Ministry of Industry and Commerce should foster understanding of political objectives and deepen officials’ insight into government policies, administration, management and implementation, as well as ensure appropriate leadership and guidance, and fulfilment of the visions formulated by the Party and government.
The deputy prime minister also advised open consultation between ministry leaders and its Party members and leading committees.
The new minister should take responsibility for leading the work of the ministry and devise plans and strategies for the improvement and development of industry and commerce, as well as instigating research and analysis to boost development, Prof. Dr Kikeo said.
The Ministry of Industry and Commerce is responsible for governing and developing industrial and commercial activity in Laos.
It is responsible for regulating and promoting manufacturing, trade, imports and exports, and representing Laos and Lao interests within the international business community.

By Times Reporters
(Latest Update June 27, 2022)