Southeast Asia Information Port (www.dnyxxg.com) – The Lao government is intensifying its efforts to achieve its 4.8% economic growth target for 2025, focusing on strengthening key industries, improving infrastructure, and stabilizing inflation.
According to the Lao Ministry of Planning and Investment, the Lao People's Democratic Republic's GDP is projected to reach 4.6% in 2024, exceeding the 4.5% target set by the National Assembly.
These efforts were discussed at a government meeting in February chaired by Prime Minister Somxay Siphandone, with ministers in attendance.
This meeting aimed to summarize the key work of February and outline the direction of the plan for March 2025. One of the key topics discussed was the implementation of measures to achieve the 4.8% economic growth target and other macroeconomic objectives outlined in the National Socio-Economic Development Plan, the National Budget Plan, and the 2025 Monetary Plan.
To achieve the 4.8% economic growth target and other macroeconomic objectives set forth in the National Socio-Economic Development Plan, the National Budget Plan, and the 2025 Monetary Plan, the meeting instructed the Ministry of Planning and Investment to coordinate with relevant departments and political parties to make improvements based on feedback from government members, emphasizing five key measures with potential for improvement.
**Agricultural Measures:** Focus on strengthening production and processing, and developing supporting factors for robust production.
**Industrial Production and Trade Measures:** Encourage deep mineral exploration and processing, and promote processing industries with the potential to replace imports.
**Energy and Mineral Measures:** Prioritize the completion and full operation of ongoing power and mineral projects as planned.
**Tourism Measures:** Continue to improve tourism infrastructure and facilities, including tourism services, activities, cleanliness, and safety, and enhance the attractiveness of the tourism industry in a robust and effective manner.
**Measures to Facilitate the Flow of Goods and People:** Focus on improving and constructing facilities such as roads, border crossings, and airports, enhancing their usability and service levels, facilitating investment, freight transport, and tourism, and improving logistics services and cargo handling convenience in border areas.
In recent years, despite global uncertainties, Laos has made progress in taxation, trade, and inflation control. Tax revenue increased by 64.85% year-on-year, and import and export volume (excluding electricity import and export volume) increased by 11.7%; the inflation rate fell from 15.5% in January to 12.7% in February. According to a press release from the Prime Minister's Office, this reflects improved economic stability.
