Promoting Regional Trade Integration and Employment Criteria (PRICE)

The Promoting Regional Trade Integration and Employment Criteria (PRICE) initiative seeks to shift Laos’ economic trajectory away from reliance on large-scale, Chinese-funded mining and hydropower projects that impose significant environmental and debt burdens while offering limited local benefits. Instead, it will channel support toward strengthening small and micro enterprises in key sectors such as industry, tourism, handicrafts, and manufacturing, with the goal of fostering more inclusive and sustainable economic growth. The program aims to enhance the competitiveness of Lao businesses by promoting responsible investment practices, building organizational capacity, and creating quality employment aligned with international standards to ensure long-term resilience and worker empowerment. In parallel, PRICE is designed to expand Lao access to major markets by advancing bilateral trade relations with the United States and broader integration within ASEAN. This includes enabling Lao enterprises to meet international trade requirements, improve product quality, and participate more effectively in regional and global supply chains. The initiative is spearheaded by the U.S. Department of State, with Point of Contact Mackenzie Rowe and Small Business Specialist Tyler Sinclair available for support, and falls under the NAICS code 926110, signaling its alignment with international affairs and economic development objectives. The forecasted opportunity reflects a strategic investment in local entrepreneurship as a vehicle for equitable development and deeper trade partnerships.