PM convenes open govt meeting to resolve ongoing challenges

The government’s second open meeting for 2022, which is taking place on Thursday and Friday this week, saw cabinet members discuss various international and regional events that are unavoidably affecting the economy.
These circumstances have resulted in the insufficient supply of foreign currency and unfavourable exchange rates, while the cost of oil and consumer goods has almost doubled over the past year.

Prime Minister Dr Sonexay Siphandone and other leaders join a group photo during the government meeting held on Thursday.

The meeting, chaired by Prime Minister Dr Sonexay Siphandone, is attended by deputy prime ministers, government members, the Mayor of Vientiane, provincial governors, and ministers, together with representatives of various state agencies.
Dr Sonexay requested those present to consider the challenges facing the government and to provide comments about possible solutions, with the aim of finding effective ways to revitalise the economy and put Laos back on the development path.
Meeting participants are mulling the most effective options for socio-economic development and the fulfilment of goals in this regard, which were recently endorsed by the National Assembly.
The agenda comprises a summary of the government’s targets achieved in 2022 and plans for 2023 based on recommendations made at the recent National Assembly session.
Goals will centre on strengthening social and economic development, formulating a realistic budget, and the improved management of finance, planning and expenditure to satisfy government auditors.
Reports presented on Thursday stressed the difficulties of doing business in Laos and advised urgent improvement of the business and investment environment, with a view to attracting more investment and driving growth.
The meeting heard that cooperation between Laos and Vietnam was intensifying and the two governments had met to assess the success of the Laos-Vietnam Friendship and Solidarity Year 2022. Last year also saw the two countries celebrate the 45th anniversary of the signing of the Laos-Vietnam Friendship and Cooperation Treaty, along with pledges to cooperate more strongly in 2023.
There was also a report on the government’s efforts to source more revenue in order to enhance spending power, the management of payments in 2022, and plans to strengthen revenue collection in 2023, including through more income streams.

By Times Reporters
 (Latest Update January 20, 2023)