Laos: six development goals for 2021-2025 outlined at party congress

Vientiane (VNA) – Lao Prime Minister Thongloun Sisoulith outlined six targets under the country’s Ninth Socio-economic Development Plan for 2021-2025 when addressing the ongoing 11th National Congress of the Lao People's Revolutionary Party (LPRP) in Vientiane on January 13, according to the Vientiane Times.

As reported by the newspaper, the first goal is to maintain steady economic growth with quality, stability and sustainability.

Secondly, training will be stepped up to ensure people are better qualified to meet the demands of development, are able to conduct research, and know how to use science and technology to add value to goods and services.

Third, it is essential to improve people’s living conditions. Balancing environmental needs with a reduced risk of natural disasters is the fourth goal.

Fifth, the government will work to strengthen infrastructure and effectively utilise potential, opportunities, locations and participating regional and international cooperation and integration.

The sixth goal is to enhance the efficiency of state management and administration so that equality, justice and order prevail in society and people receive protection through the enforcement of laws.

Under the plan, in the next five years, Laos will strive for an annual economic growth of 4 percent, and annual average per capita income of 2,887 USD.

The prime minister said the Government will place importance on stabilising foreign currency exchange rates and the management of inflation. The inflation rate will be kept at a maximum of 6 percent while fluctuations in currency exchange rates should not be more or less than 5 percent.

The government will ensure that foreign currency reserves are sufficient to buy imports for a period of not less than 3 months and will do its best to maintain money flow at a rate not exceeding 20 percent per year. Investment will be obtained from various sources to support all forms of development and account for 19.6 percent of GDP.

Laos’ 11th National Party Congress opened on January 13 with the participation of 768 official delegates who represent nearly 350,000 Party members nationwide./.