According to a source from Target Magazine (https://targetlaos.com/article/55995): At the 10th Ordinary Session of the 8th National Assembly on 02 November 2020. The Chair was by H.E. Mrs. Pany YATHOTOU, President of the National Assembly of the Lao People's Democratic Republic, and participate by Prime Minister, Mr. Thongloun Sisoulit and line Ministers.
Mr. Sonexay Siphandon, Deputy Prime Minister and Minister of Planning and Investment, on behalf of the Government, clarified the questions which were raised by the members of the National Assembly (NA) on many issues, especially the implementation of the government's Three Opens which are open the hearts, doors and barrios in order to make it happen and achieve the most effective outcomes. The government will focus on implementing policies, targets, measures and work focus in order to resolve remaining issues and barriers that can create a better business environment to attract investment from abroad. This attraction can increase income and become more benefits to the country and be reduced the poor in Lao PDR.
The expectation for investing areas would be priorities to the definition in the law to promote investment (2016), the nature of the project is key to the development of the economy of the country and investment transfer technology, innovative new product to the transformation industry modern era 4.0 that includes creating a chain to add value to products with the quality and diversity, the path to international standards and adapt to the era of artificial intelligence. At the same time, it is an investment to produce goods that are necessary for consumption and can create jobs for many people, such as clean-organic agriculture, food processing industry, consumer goods industry, tourism, education, transportation and infrastructure construction.
In addition, the promotion can be attractive to international investment at the special economic zone such as industries and the small and medium-size projects that use technology and science in promoting investment in the form of BOT and PPP. These form can encourage and promote investment private sector to achieve the targets that set by the government, therefore, the government can focus on the relevant procedures, mechanisms, coordination and other tasks. Meanwhile, the improvement can create a friendly business environment and improve quick service and transparency. Additionally, the government has been trying to reduce the poor and improve people's lives by focusing on the improvement of building basic infrastructure such as schools, hospitals, infrastructure, health facilities, etc. According to the results of the 2018-2019 Household Expenditure and Consumption Survey, which was completed in 2019, the national poverty rate using international standards shows that poverty rate remains at 18.3%.
Please share your feedback below and help us improve our content.