Party resolves to maintain economic growth

The Central Committee of the Lao People’s Revolutionary Party has approved a resolution which the government must incorporate in order to sustain economic growth.
The committee, which serves as the political decision-making body of the Lao PDR, approved the resolution at the end of the eighth session of the 10th Party Congress this week.
According to the resolution, one of the paths the government must pursue is the improvement of the business and investment climate, as this is a prerequisite for Laos to maintain economic growth.
At the meeting, which was chaired by the Party Secretary General of the Lao People’s Revolutionary Party, President Bounnhang Vorachit, the Party’s Central Committee agreed that, in order to improve the business climate, the government would have to reduce the amount of red tape and bureaucracy. In addition, the government must actively promote the development of small and medium sized enterprises. Another important undertaking is to create new revenue bases, according to a statement issued by the committee.
Among the other economic challenges discussed by the Central Committee were how to tackle public debt, and barriers that slow the distribution of goods.
The committee also stressed the need for Laos to maintain strong economic growth, but warned that this must be based on green and sustainable methods. The Central Committee also heard a report on the progress of development in rural areas.
According to the report, the Party named rural development as one of the strategic tasks the government must continue to pursue, adding that the success of the work done to date had led to poverty reduction around the country.
The report highlighted a number of achievements in rural area development, including public infrastructure, which has resulted in a decrease in the number of poor people.
But despite these achievements, Laos faces several challenges, including unsatisfactory standards in the health service and education. To address these shortcomings, the Central Committee agreed that a resolution by the political bureau must be issued to provide guidelines for the Party and government administration in addressing these aspects of rural development.
Another issue discussed by the Central Committee was the delegation of various duties to different sectors. The Central Committee reaffirmed its commitment to delegate more responsibilities to local authorities. This was aimed at motivating local administrations to take on more work so that they fulfill their given assignments.
At the close of the meeting, the Central Committee discussed the preparation of the political report to be delivered at the upcoming Party Congress.

By Ekaphone Phouthonesy
(Latest Update May 17, 2019)