MOIT VIETNAM | Energy and mineral exports are expected to bring in 4 billion USD for Laos in 2024
/ News / Activities
Energy and mineral exports are expected to bring in 4 billion USD for Laos in 2024
Laos expects to export electricity worth more than 2,453 million USD in 2024, and minerals worth 1,525 million USD, bringing the total revenue from these two key economic sectors to approximately 4 billion USD.
In 2024, Laos expects electricity output to exceed 51,134 million kWh, worth approximately 41,321 billion kip; electricity exports are expected to reach 40,446 million kWh, worth more than 2,453 million USD; and domestic electricity consumption is expected to be around 10,248 million kWh, worth over 700 million USD.
Furthermore, in 2024, Laos sets a target of mineral production value of 19,795 billion kip, mineral exports of 1,525 million USD, and domestic revenue value of approximately 313 million USD.
Thus, by 2024, Laos expects to generate over $4 billion USD from electricity and resource exports. These are also the two most important sectors in achieving the Party and State of Laos' industrialization and modernization policy.
The Ministry of Energy and Mines of Laos' 2023 summary report also demonstrates that the two sectors of energy and mining have grown strongly and consistently in recent years, adding significantly to the country's GDP.
Lao Prime Minister Sonexay Siphandone believes that the above two areas are critical to implementing the Lao People's Revolutionary Party's development strategy and the Lao government's National Socio-Economic Development Plan. Closer collaboration between the energy, mining, and associated industries is required to maximize benefits and contribute to Laos' socioeconomic development.
The Lao Prime Minister also requested that the authorities close the loopholes as soon as possible to prevent some companies from profiting from the two areas mentioned above; and that the Ministry of Energy and Mines of Laos and relevant agencies increase coordination for better management and ensure that all businesses comply with the law.
-
/ News / Activities
Affirming the Historic Significance and the Profound Friendship between Vietnam and Laos
On the morning of October 25, in Hanoi, the Ministry of National Defense organized a scientific seminar titled “Vietnamese Volunteer Soldiers and M...
-
/ News / Activities
Vietnam and Laos Strengthen Image Promotion, Trade, and Tourism Initiatives
The Vietnam-Laos Trade Fair showcases over 20 booths from various provinces in Vietnam, as well as some booths from districts in Xiengkhouang Provi...
-
/ News
Implementation Plan for the Memorandum of Understanding on Developing and Connecting Border Trade Infrastructure between Vietnam and Laos
Deputy Prime Minister Bùi Thanh Sơn Signs Decision No. 1247/QD-TTg Issuing the Plan to Implement the Memorandum on Developing and Connecting Border...
Others
