Laos Vary received the Best SME Award 2021 from the National Young Entrepreneurs Association (YEAL).
On March 18, 2021, at the National Conference in Vientiane, the Lao National Young Entrepreneurs Association (LYEA) organized the award ceremony for the Best Entrepreneur of the Year 2021
Under the leadership of Mr. Sonchai Siphandone, Deputy Prime Minister and Head of the Economic Affairs Task Force, the event was attended by Mr. Arunsai Sounnalath, Director of the Prime Minister’s Office, Mr. Khamsen Sisavong, President of the Lao National Young Entrepreneurs Association (LYEA), along with members of the young entrepreneurs and relevant parties.
Laos Vary was selected as one of the top 1 out of 138 companies receiving the award in the BEST SME Award category for 2021.
Mr. Khamsen Sisavong stated that the selection of outstanding entrepreneurs followed a standardized process in cooperation with the Youth Center for National Lao Revolution, which included young entrepreneurs nationwide. The process followed specific criteria, and 300 companies submitted their applications. 117 outstanding enterprises were chosen, including 21 small and medium-sized companies with high-quality products, which received the award for Best Entrepreneur of the Year 2021.
LYEA was founded in 2003 under the guidance of the Central Committee of the Youth Revolutionary Party, and over the years, it has expanded significantly. Currently, LYEA has 1,250 member companies, with associations in the capital, provinces, and certain districts. It has invested around 625 million US dollars and created job opportunities for more than 43,000 workers. Every year, it generates an average revenue exceeding 120 billion kip.
This translation conveys the key information about the event, the award, and the achievements of the Lao National Young Entrepreneurs Association (LYEA).
