MOIT VIETNAM | Laos Continues to Focus on Economic Challenges in May
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Laos Continues to Focus on Economic Challenges in May
In an interview with the press, Mr. Somkiet Phasi, Deputy Chief of the Prime Minister's Office, highlighted the outcomes of the regular April Government Meeting. The meeting reached a consensus in principle on the prominent achievements of April and the plans for May 2024. The Prime Minister’s Office was tasked with finalizing the action plan report based on government members' feedback. Relevant departments and agencies were directed to focus on key tasks for May 2024, including:
1) Preparing comprehensive reports for the 8th Plenary Session of the 11th Party Central Committee in 2025.
2) Implementing the Politburo’s Resolution No. 04/TWD, dated April 11, 2024, to develop an independent and self-reliant economy, translating these directives into actionable plans and measures.
3) Proactively executing Decree No. 381/TTg, dated December 21, 2023, outlining tasks and responsibilities for the Ninth National Socio-Economic Development Plan up to 2025, alongside national economic, state budget, and monetary plans for 2024, and addressing audit results in accordance with Government Resolution No. 17/CP, dated December 12, 2023.
4) Continuing to address urgent economic and financial issues by implementing measures and legal documents issued by Task Force 19/BCT, tackling inflation, exchange rate issues, and fuel shortages, managing commodity prices, encouraging domestic production and import substitution, resolving foreign debt problems, boosting exports to increase foreign currency reserves, and enhancing import-export activities and investments through the banking system.
5) Enhancing budget collection from sources exceeding targets, modernizing revenue sources, addressing budget gaps, and efficiently managing expenditures through savings and anti-waste measures.
6) Monitoring and ensuring timely completion of major investment projects, particularly power projects aimed at exporting electricity to neighboring countries, highway projects, special economic zones, and other significant ventures.
7) Continuing oversight of mining companies nationwide to ensure environmental protection measures are implemented, with strict legal penalties for violations.
8) Upgrading national highways and inter-provincial and inter-district roads before the rainy season.
9) Collaborating with localities to address air pollution issues.
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