Laos approves more than 160 ODOPs

Laos approves more than 160 ODOPs

Lao News Agency reported that Laos has so far registered more than 160 one district one products (ODOP) in over 40 villages, 29 districts, and 12 provinces, citing a report of the Ministry of Planning and Investment.

The ministry’s mid-fiscal year report shows that the promotion of market-oriented production is likely to further expand and will lead to further growth of ODOPs in Laos. There are 45 businesses and entrepreneurs producing 165 ODOP products in 45 villages.

The Small Holder Development Project has been set up to support national ODOP production in the four target provinces of Savannakhet, Champassak, Vientiane and Khammuan.

Meetings have been held regularly to disseminate regulations on national ODOP labelling and information about financial support for ODOP labelling for 12 products. Ministries responsible for ODOP production, in cooperation with the central bank and business banks, have inspected and evaluated the government supported market-oriented projects and the government has reduced the interest on loans taken.

Results of inspections on 191 projects determined that several projects failed to meet quality standards and 75 projects have already stopped business operations. Of those, 115 projects are ongoing. Those projects have borrowed 231 billion kip in loans from banks.

The government is currently creating a plan for further development of SMEs in the 2016-2020 period.