Govt debates policies to maintain growth

The government has discussed policies and approved priorities for this year as it attempts to steer the country on a path of sound economic growth.
According to a media release from the Prime Minister’s Office, the monthly government meeting, which took place on January 24 and 25 under the chairmanship of Prime Minister Thongloun Sisoulith, debated a number of proposals and approved an agenda of activities that the government will carry out this year.
One of the documents discussed was a draft of the industry and handicraft sector development plan. The proposed development plan was not immediately available to the media.

However, based on the media release, the key observations made by government members centred on ways to strengthen the mineral processing industry.  To ensure the sustainability of the industry, government leaders said the development of natural-resource-based businesses must take place in parallel with the exploration of new markets.
A number of factories in Laos, especially cement plants, are currently struggling to find markets for their products. Several members of the National Assembly have urged the government to secure more markets for cement factories.
At last week’s meeting, cabinet members urged those drawing up the industrial and handicraft development plan to include clearer policy incentives specifically aimed at strengthening sectors of industry in which Laos has potential.
They also demanded that measures be introduced to attract investment in these sectors.
Government leaders also wanted the industrial and handicraft development plan to include incentives that would strengthen SMEs in Laos.
Another key document discussed by the meeting was a plan for the development of the Bolaven Plateau in southern Laos, although no details of the plan were immediately available to the media. The Bolaven Plateau is one of the most fertile areas of agricultural land in Laos, and is a thriving area of coffee and other crop cultivation, which provides a good source of income for local people. In addition to agriculture, the plateau contains a store of valuable mineral deposits.
Other topics discussed at the meeting were a prime ministerial decree on state organisations and a socio-economic and environmental assessment impact report on a hydropower project.
At the close of the meeting, Prime Minister Thongloun Sisoulith urged cabinet members to pay greater attention to carrying out the priorities highlighted by the government for this year. According to the media release, the government’s main targets include the improvement of state-owned enterprises.
Based on an earlier report, some of these enterprises will be strengthened with the injection of more cash while some of the shares in these companies will be sold to the private sector.
Improvement of the one-stop service to attract local and foreign investment, streamlining of the business registration process, Visit Laos-China Year 2019, labour management, and the maintenance of security and social stability were also on the government’s agenda for 2019.

By Ekaphone Phouthonesy
(Latest Update January 28, 2019)