VIENTIANE, June 3 (Xinhua) -- The Lao National Chamber of Commerce and Industry (LNCCI), in partnership with the Asian Development Bank (ADB), has launched a new report on business reform and the development of small and medium-sized enterprises (SMEs) in Laos.

The launch ceremony was held on Tuesday in the Lao capital Vientiane. According to the LNCCI report on Wednesday, the country's business environment has shown modest improvement, but significant challenges remain in business registration, regulatory compliance, and access to finance.

The Provincial Facilitation for Investment and Trade Index report is based on a nationwide survey of 1,386 business units, gathering data that reflects the private sector's real experiences with local government services.

SMEs remain a vital part of Laos' economy, representing around 99 percent of formally registered enterprises and 94 percent of formal sector employment.

Speaking at the event, LNCCI Vice President Valy Vetsaphong said the report reflects feedback from businesses across the country. It provides valuable information to strengthen dialogue between the public and private sectors, helping to reduce the cost of doing business, build confidence, and promote enterprise growth. ■