Vientiane (VNA) – The Lao People’s RevolutionaryParty (LPRP)’s Central Committee has resolved to take action to urgently addresseconomic difficulties, especially those relating to the fuel shortage,fluctuating currency exchange rates, and rising inflation.
The 11th Party Central Committee adopted the resolution atits fourth session, which took place in Vientiane from May 18-26, according to theVientiane Times.
Chaired by Party Secretary General Thongloun Sisoulith, themeeting agreed on measures to tackle economic challenges and help people dealwith the rising cost of living.
The Lao government was told to stabilise the macro-economy,especially currency exchange rates, strengthen revenue collection, and removethe red tape that is hindering the growth of investment.
Government bodies were required to promote investment in theproduction sector and to minimise the import of goods that can be produced in Laos.
The session also instructed the sectors concerned to promotethe use of electric vehicles, and improve public transport to alleviateproblems caused by the fuel shortage.
In addition, tourism facilities and services must beimproved to attract more visitors to Laos following the reopening of thecountry on May 9.
The LPRP Central Committee stressed the need to unlock thecountry’s potential in order to boost economic growth and reduce povertylevels, develop human resources, and promote business operations as the keydrivers of future growth.
It called on all people to focus on boosting the production of goodsfor their own consumption and for market sale, as well as participate in thecountry’s ongoing battle against the COVID-19 pandemic.
According to Vientiane Times, Lao authorities are strugglingto regulate currency exchange rates and the price of food because many productsare imported and must be purchased with currencies whose exchange rates arefluctuating./.
The 11th Party Central Committee adopted the resolution atits fourth session, which took place in Vientiane from May 18-26, according to theVientiane Times.
Chaired by Party Secretary General Thongloun Sisoulith, themeeting agreed on measures to tackle economic challenges and help people dealwith the rising cost of living.
The Lao government was told to stabilise the macro-economy,especially currency exchange rates, strengthen revenue collection, and removethe red tape that is hindering the growth of investment.
Government bodies were required to promote investment in theproduction sector and to minimise the import of goods that can be produced in Laos.
The session also instructed the sectors concerned to promotethe use of electric vehicles, and improve public transport to alleviateproblems caused by the fuel shortage.
In addition, tourism facilities and services must beimproved to attract more visitors to Laos following the reopening of thecountry on May 9.
The LPRP Central Committee stressed the need to unlock thecountry’s potential in order to boost economic growth and reduce povertylevels, develop human resources, and promote business operations as the keydrivers of future growth.
It called on all people to focus on boosting the production of goodsfor their own consumption and for market sale, as well as participate in thecountry’s ongoing battle against the COVID-19 pandemic.
According to Vientiane Times, Lao authorities are strugglingto regulate currency exchange rates and the price of food because many productsare imported and must be purchased with currencies whose exchange rates arefluctuating./.
VNA
