Lao economy continues to develop: Deputy PM

Laos continues to demonstrate its economic development in the 2013-2014 period with a growth rate of 7.6 percent, Lao Deputy Prime Minister Thongloun Sisoulith, announced at a roundtable meeting in Vientiane on November 14.
Laos continues to demonstrate its economic development in the 2013-2014period with a growth rate of 7.6 percent, Lao Deputy Prime MinisterThongloun Sisoulith, announced at a roundtable meeting in Vientiane onNovember 14.

The event, which was organised bythe Lao Ministry of Planning and Investment, in collaboration with theUnited Nations Development Programme (UNDP), aims to review progressand devise measures to implement the 2016-2020 plan and achieve theMillennium Development Goals . It attracted more than 300 internationaland domestic delegates.

Deputy PM Thongloun Sisoulith, who isalso Foreign Minister, hailed the substantial contributions made byLaos’ private sector, as well as international partners andorganisations.

He pointed out a number of challenges for thecountry, including the impact of natural disasters and limited financialsources.

He concluded by urging participants to explore thenation’s potential for economic development and regional andinternational integration, as well as ful filling the MillenniumDevelopment Goals by 2015 and no longer being categorised asunderdeveloped by 2020.

Kaarina Immomen from the UNDP office inLaos spoke highly of the country’s achievements in implementing itssocio-economic development plan, as well as the government’s activeinvolvement of stakeholders.

She also affirmed that UNDP will continue to provide technical and financial support to Laos in the future.

Per capita income has increased from 1,534 USD in the 2012-2013 periodto 1,692 USD in the 2013-2014 period, with an inflation rate of 5.16percent.-VNA

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