Laos steps up efforts to tackle economic problems-Xinhua

Laos steps up efforts to tackle economic problems

Source: Xinhua

Editor: huaxia

2023-11-01 19:33:15

VIENTIANE, Nov. 1 (Xinhua) -- The Lao National Assembly's Committee on Economy, Technology and Environment has met with other authorities in Lao capital Vientiane to seek solutions to economic problems that are hindering the country's development.

According to Lao national TV report on Wednesday, the meeting took place on Oct. 27 and Oct. 28, chaired by the president of the committee, Linkham Duangsavanh.

Linkham said authorities would focus on the development and management of land ports and logistics systems to facilitate transport.

Meeting participants heard a report on the creation of a digital government under the national digital economy development plan.

Studies will take place to determine ways to increase local productivity in order to reduce the volume of imports while also producing more goods and agricultural produce for export.

The focus will be on the production of crop seeds, animal feed, agricultural equipment, and fertilizer, which are needed by farmers to meet the need for larger and higher quality crop yields.

Farmland will be used appropriately depending on local soil conditions, while more irrigation systems will be built and their use and management improved.

Lao authorities will also revise the fuel energy and promotion policy in a bid to attract investment in fuel refineries.

Meeting participants also heard a report on price management, and efforts to spur the production of more goods and boost imports and exports by doing more to facilitate trade and transportation.

More will also be done to strengthen the operations of micro-sized, as well as small- and medium-sized enterprises.

Linkham urged authorities to meet regularly and monitor and discuss conditions in their local area, especially in relation to efforts to fulfill socio-economic development plans.