Finance Minister Santiphab Phomvihane, who also serves as Vice Chair and Secretary-General of the National Steering Committee for the Round Table Process, said the meeting reviewed implementation of the current 9th Five-Year Development Plan and discussed preparations for the upcoming 10th Plan.

Development partners and friendly nations reaffirmed their full support for Laos as it works to advance the implementation of the Five-Year Development Plan and the Sustainable Development Goals (SDGs), recover from the economic impacts of COVID-19 and recent financial difficulties, build a more self-reliant economy by strengthening domestic production, services, and enterprise capacity and integrate more effectively into regional and global value chains.

The discussions also highlighted the need to:Maintain macroeconomic stability, including managing inflation, exchange rates and commodity prices, modernise and strengthen the budget revenue collection system, continue upgrading infrastructure, particularly transportation corridors and local road networks and improve human resource development, including education quality, school meal policies and student support and strengthen the public health system with improved equipment and services

Prepare for Laos’s graduation from Least Developed Country status by ensuring sustainable growth and greater private-sector participation

Promote green growth by balancing economic development with environmental protection

The Ministry of Finance will work with relevant sectors to compile the meeting’s outcomes and submit them to the government. These will serve as official guidance and a basis for ministries and agencies to implement their responsibilities under the upcoming national development framework.

KPL