(KPL) On February 18, 2025, the government, in collaboration with the National Assembly, organized a scientific symposium to discuss policies aimed at promoting development and investment in industrial parks.

The event was co-chaired by Deputy Prime Minister Saleumxay Kommasith and Vice President of the National Assembly Sommat Pholsena.

Also in attendance were Minister of Industry and Commerce Malaythong Kommasith and representatives from relevant authorities.

Mr. Sommat Pholsena highlighted the significance of the symposium, stating that it served as a crucial platform for researching, consulting, and discussing important policies and legal frameworks. The goal is to address economic and financial challenges facing the country in short, medium, and long terms.

The National Assembly acknowledged and commended the government’s efforts in researching policies, legal instruments, and measures to transform and improve the national economic structure. These efforts aim to reduce reliance on revenues from natural resource exports and instead focus on promoting industrial development, which will serve as the foundation for strengthening the country’s economy in the long run. One of the government’s key initiatives in this regard is the drafting of a decree on industrial zones.

However, the decree on industrial zones is still a new legal instrument, and its draft proposes policies with higher incentives than those stipulated in existing laws. This issue requires in-depth study. After the government submitted the draft decree on industrial zones to the National Assembly in November 2024, the National Assembly Standing Committee organized meetings to review, discuss, and propose revisions. The government was advised to further refine the draft through additional consultations and research before resubmitting it to the Standing Committee for consideration.

On this occasion, Mr. Saleumxay Kommasith remarked that industrialization and modernization are fundamental policies for the country’s economic development. The Party has advocated for this policy since its 3rd National Congress in 1982. Since then, the Party has consistently emphasized the importance of this issue in all its congress resolutions.

The draft decree on industrial zones presented at this symposium reflects the government’s efforts and represents a measure to address the economic and financial challenges the country is currently facing. Therefore, it is essential to examine the issue thoroughly, avoid formalism, and boldly propose new ideas, directions, legal frameworks, and measures to resolve the challenges.

The draft decree on industrial zones expands on Article 64 of the Law on Promotion of Foreign Investment, which was approved by the National Assembly at the end of 2024. However, some proposed policies in the draft offer higher incentives than those specified in related laws, necessitating further detailed study.

KPL