LAOS UNVEILS FIVE-YEAR SOCIO-ECONOMIC DEVELOPMENT PLAN

VIENTIANE, Jan 8 (Bernama-Xinhua) -- Laos aims to achieve an annual economic growth rate of 6 per cent between 2026 and 2030, Lao Prime Minister Sonexay Siphandone said at a key meeting, reported Xinhua.

Sonexay made the remarks on Tuesday while presenting his report on the 10th five-year socio-economic development plan for 2026-2030 at the 12th National Congress of the Lao People's Revolutionary Party.

He noted that, through the collective efforts of all sectors, Laos has made significant progress in achieving the objectives of the ninth five-year plan for 2021-2025. During this period, the national economy recorded sustained, high-quality and stable growth, with an average annual growth rate of 4.24 per cent, surpassing the target of 4 per cent.

In his report, Sonexay outlined the focus of the 10th five-year plan on three key measures: improving laws, regulations, governance capacity and the business environment; enhancing human resources, building a more independent economic development model while deepening regional and international cooperation; and promoting efficient use of natural resources, stronger budget execution and sustainable green development.

Founded in 1955, the Lao People's Revolutionary Party was originally known as the Lao People's Party before adopting its current name in 1972.

--BERNAMA-XINHUA