Mr Somdy Douangdy

(KPL) Minister of Planning and Investment Somdy Douangdy has said that economic growth over the past six months of the current fiscal year (Oct 2014-Apr 2015) was estimated at (GDP) 7.5%, and value addition was around 100,000 billion kip (over US$12 million).

Gross domestic product (GDP) per capita was 14 million kip, equivalent to US$1,857, a seminar was told yesterday.  ​

During the last six months, over 5,600 state investment projects were approved with a combined total of around 7 trillion kip (over US$850 million).

The Minister said that the implementation has been relatively satisfactory yet more attention needs to be attached to management procedures in some sectors and localities, rural developments, and poverty eradication projects which were incorporated into 3-build projects.

To date, 148 villages (7,000 families) were announced as poverty free in the first half of current fiscal year. There are still 1,800 villages and about 84,000 families living under poverty line at the moment.

The report by the minister also covered development issues in the social sector, especially those in education such as the addressing of the uneven allocation of teachers, healthcare network expansion, and tourism development.

The report by the minister also included the progress of the implementation of the eight Millennium Development Goals (MGDs).

At the seminar, members of the National Assembly also discussed key issues including a draft of the socio-economic development plan for 2015-2016, a green growth strategy for sustainable development, enforcement of forestry law, and the prevention of illegal forest exploitation.

KPL