Deputy Minister of Industry and Commerce Mr Chanthaboun Soukaloun gives a presentation at the ministry’s Party Congress.

Industry ministry sets 5-year development plan to drive national growth

The industry and trade sector aims to contribute at least 36.2 percent to GDP, with an annual average growth rate of 12.65 percent for industry, 14.54 percent for domestic trade, and 10.62 percent for foreign trade.
These targets are part of the Ministry of Industry and Commerce’s draft five-year Industry and Trade Development Plan for 2026-2030, which outlines the sector’s central role in supporting Laos’ economic transformation and self-reliant growth.
Speaking at the ministry’s 6th Party Committee Congress recently, Deputy Minister of Industry and Commerce Mr Chanthaboun Soukaloun presented the plan, which took the theme “Continue to enhance the role and leadership capacity of the Party Committee, leveraging the potential of the industry and trade sector to become a firm driving force for an independent and self-reliant economy.”
The industry and trade sector has made significant progress over the past five years, recording an average annual growth rate of 3.84 percent and contributing 35.39 percent to Gross Domestic Product (GDP).
The industry sector earned 506,438 billion kip, achieving 180.82 percent of the target figure. The mining sub-sector achieved 302.06 percent and the energy sector achieved 184.27 percent of their respective goals.
The value of foreign trade climbed to US$83.86 billion, surpassing the target figure by 118.16 percent. Meanwhile, the number of procedures required to start a business have been reduced to just one step, cutting the time taken from 10 to just three working days. Under the new plan, the government has set a target for overall annual national GDP growth of 5.5 percent, with the industry and trade sector expected to play a leading role.
The ministry will promote domestic value chains to create higher-value and finished products, while the energy sector will focus on restoring the financial stability of Electricité du Laos (EDL), developing a competitive energy market, and completing the North-South national grid interconnection.
The mining sector will also improve management policies to ensure sustainable benefits.
The ministry will continue trade agreement negotiations to expand markets and reform trade facilitation to support exporters and investors.
State-owned enterprises, particularly in the electricity and fuel sectors, will undergo restructuring to enhance efficiency, while non-strategic or underperforming enterprises will be converted to other ownership forms.
To strengthen the role of small and medium-sized enterprises (SMEs), the ministry plans to establish a credit guarantee entity to improve access to financing.
The plan also underscores the importance of digital transformation, including the use of Artificial Intelligence (AI), and green transformation, promoting cleaner production and environmentally sustainable trade.
The new development plan aligns closely with the National Socio-Economic Development Plan for 2026-2030 and reflects the government’s determination to strengthen the foundations for a sustainable and resilient national economy, Mr Chanthaboun said.

By Times Reporters
(Latest Update November 3, 2025)