KPL
(KPL) The Ministry of Planning and Investment (MPI) has set the target of mobilizing US$3.5 billion of Official Development Assistance (ODA) from foreign development partners between 2016 and 2020 to ensure the implementation of investment projects.
“To achieve these ambitious targets, we will focus on creating and improving regulations related to the management and use of ODAs to ensure they are aligned with those legal instruments in other ASEAN member countries,” said Minister of Planning and Investment Somdy Douangdy.
By Manythone
(KPL) The Ministry of Planning and Investment (MPI) has set the target of mobilizing US$3.5 billion of Official Development Assistance (ODA) from foreign development partners between 2016 and 2020 to ensure the implementation of investment projects.
“To achieve these ambitious targets, we will focus on creating and improving regulations related to the management and use of ODAs to ensure they are aligned with those legal instruments in other ASEAN member countries,” said Minister of Planning and Investment Somdy Douangdy.
“In addition, we will focus on cooperation in services, which play a key role in economic growth in the ASEAN region,” said Mr Somdy.
The Lao PDR has signed free trade agreements with China, the RoK, India, and Australia- New Zealand.
In addition, since 1997 the Lao PDR has gone into negotiations to open free trade in services with other ASEAN countries. Laos has so far secured 89 out of 160 subsectors of free trade in services with its ASEAN neighbours. This year the government expects to have 128 more subsectors of free-trade put into service.
“To attract more investment from domestic and foreign companies, the Ministry of Planning and Investment will increase its efforts to implement the Law on Investment Promotion and focus on monitoring and implementing investment projects that the ministry has approved,” said Mr Somdy.
KPL
