Lao experts mull keys for faster growth
Lao experts mull keys for faster growth
Closer regional integration and the establishment of the Asean Economic Community in 2015 will give Laos the opportunity to graduate from least developed country status by 2020.
In addition, industrialisation and modernisation are the keys to achieving this goal.
Speaking on the topic yesterday, Director General of the National Economic Research Institution, Dr Liber Libuapao, made reference to a statement in a government document which said “Only industrialisation and modernisation will be able to drive the development of Laos to go faster and ensure the country's attainment of development goals by 2020.”
Dr Liber made these comments at the opening of the fifth Lao Research Network conference in Vientiane on ‘Industrialisation and Modernisation in Laos'.
The one day workshop was held by the National Economic Research Institute, Ministry of Planning and Investment and supported by the United Nations Development Programme. It was attended by Lao researchers from related offices.
The objective of the meeting was to present the findings of the researchers related to these key subjects.
Dr Liber said that industrialisation and modernisation were emphasised in the current national development plan. “In the previous five year plan there was some mention of these matters, but in the 2011-2015 plan, it is stated more clearly and in much more detail.”
He explained that these subjects are not limited to the industrial sector as many people might think. “Industrialisation and modernisation in the wider context involve every sector, for example banking, education and health.”
“It is the way to use modern technology, to facilitate production and services at a lower cost, in a shorter time, using less labour and ending with a high quality result with no impact on the environment, to ensure sustainable growth.”
Dr Liber added that for the development of Laos it is important to learn from newly developed countries. The older developed countries in Europe took a long time to get there, while the newer ones, such as the Republic of Korea and Singapore, took a much shorter time.
“With the technology available today it is possible that a country's development can go faster and faster.”
“To do this, we should accept the use of imported modern technology and we should also have a good policy for optimising these technologies in order to get the maximum benefit.”
“This meeting will contribute to the implementation of the seventh five-year development plan (2011 to 2015) for Laos,” he said.
The meeting also discussed industrialisation and modernisation in relation to trade and industrial processing, agriculture and forestry, energy and mines. Also discussed was the need for further change between 2015 and 2020 and what would be necessary after 2020.
vientiane times
