October 20, 2012
Deputy Prime Minister Somsavat Lengsavad has advised the board of management of Lao Brewery Company (LBC) to prepare for tough market competition when Laos becomes a member of the World Trade Organisation (WTO). Speaking at the opening ceremony of LBC’s new production capacity expansion project on Thursday, Mr Somsavat said “The board of management and staff have to learn more about business operations, technology and product quality before Laos becomes a member of the WTO this year and enters the Asean Economic Community in 2015.”
Mr.Somsavat also said the company should focus more on sponsorship if wants to show the public what it has achieved.
“If you want to see the best results from spending a lot of money on sponsorship for social activities, you have to focus on what that should be and what it shouldn’t”, Mr.Somsavat said.
On behalf of the government, Mr.Somsavat also presented Class 2 Labour Orders to LBC Managing Director Kissana Vongsay, and Class 3 Labour Orders to Senior Deputy Managing Director Sounthone Phommachack and Expansion Development Project Director Sounthala Keomisy.
Meanwhile, Vientiane Mayor Soukanh Mahalath presented Government Certificates of Congratulations to outstanding staff at LBC.
After the awards were presented, Mr Somsavat, Mr Kissana and Mr Soukanh cut a ribbon to open the Production Capacity Expansion Project.
LBC announced on Thursday that in the year 2010 the company expanded its capacity to produce 200 million litres that year. In 2013 the company will further expand capacity to produce 280 million litres that year, and from 2015 will boost output to 400 million litres per year.
LBC products now account for a 98 percent share of the domestic beverage market, and Beerlao is exported to 14 countries. According to a report delivered by Mr Kissana, from 2010 to 2012 the company invested US$51.2 million in the expansion project, to allow more beer, drinking water and soft drinks to be produced.
“Our investment in the expansion project is not only in preparation for stronger market competition, but is also part of preparations for our 40th anniversary next year,” he said.
“One of the company’s main policies is to increase our contribution to the national budget and to support social activities,” he added.
Since the company was founded in 1973, it has been giving back to the nation in which it was born. It generously provides financial support to several social development projects on an annual basis, including the Poverty Reduction Fund and the Road Accidents Prevention Project, as well as education and sporting initiatives and other national activities.
Photo Credit: Vientiane Times