Mr Sousath Sayakoummane boosts Indian investor confidence in Lao agriculture
Mr Sousath Sayakoummane boosts Indian investor confidence in Lao agriculture
Great investment opportunities in the Lao agricultural sector
D eputy Permanent Secretary of the Ministry of Agriculture and Forestry Mr Sousath Sayakoummane recently delivered a presentation on the Lao government’s Agriculture Development Strategy to 2025 and Vision to 2030.
Mr Sousath gave the speech during the business seminar on ‘Trade and Investment Opportunities in the Lao PDR – supporting the current vision and policy of the Governments of the Republic of India and the Lao PDR,’ organised by the Lao National Chamber of Commerce and Industry (LNCCI) and Indian Chamber of Commerce in the Lao PDR (INCHAM).
Mr Sousath focused his presentation on the Lao government’s strategy in the agricultural sector, which is a fundamental sector in the country’s national economic structure.
The objective is to ensure national food security through sustainable and clean agriculture, to enhance the potential of agricultural production by modernising through applying new technologies, encouraging the private sector to deliver agricultural services and re-zoning/reallocating land for agriculture.
After that Mr Sousath gave insight into the Lao Agriculture Development Strategy to 2025 and the Vision to 2030. The vision of the agricultural sector is “to ensure national food security through sustainable, clean and safe agriculture and build an agricultural production potential contributing significantly to the national economy according to its objectives of industrialisation and modernisation in connection with rural development.”
Mr Sousath said the Party and the Government have recognised the agricultural sector as fundamental to the industry and service sector and is the basis to support national economic growth.
Mr Sousath pointed out three targets: 1) Economic growth is strongly based on industrialisation and modernisation. Agricultural production must be significant in terms of quantity and highly competitive in terms of quality. Food security must be guaranteed in order to ensure good nutrition. 2) Agricultural production must comply with elementary sanitary and hygiene norms. 3) Agricultural production can contribute to employment creation, income generation and decreasing of income disparities amongst other things.
Furthermore Mr Sousath highlighted two strategic goals. First, food production and supply has to be improved and increased and second, agricultural growth has to ensure both quality and quantity of products through the combination of various factors including the development of farmers’ organisations and associations of producers and processors.
General measures to be taken are based on policy promotion and dialogue, which includes policies on taxes, credit and subsidy, cooperation for investment and the improvement of the organisation and development of human resources.
The government has identified priority crops such as rice, corn, coffee and sugar. But specific technical measures also have to be taken, such as the application of new technology and land zoning for agricultural production.
Additionally agricultural planning will also benefit from research, laboratory investigation and extension support with the development and improvement of power generation, rural infrastructure, irrigation and roads.
The seminar, sponsored by HSMM Group, took place on September 9 at Vientiane Plaza hotel and was attended by high-ranking representatives from relevant Lao ministries and from the Indian business community, including a delegation from the Federation of Industries and Commerce of North Eastern Region from India.
vientiane times
