Lao gov't, development partners discuss LDC status graduation
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E-mail Xinhua, March 13, 2019
VIENTIANE, March 13 (Xinhua) -- The Lao government officials and development partners are meeting here to discuss the efforts Laos needs to take to graduate from the Least Developed Country (LDC) status.
The national policy workshop on fostering productive capacities and structural economic transformation with regard to the country's change in development status is taking place on Tuesday and Wednesday, according to local daily Vientiane Times on Wednesday.
The opening ceremony on Tuesday was attended by Lao Deputy Minister of Foreign Affairs Thongphane Savanhphet, UN Resident Coordinator and UNDP Resident Representative Kaarina Immonen, and development partners.
The discussion of the meeting is about Laos' quest for sustainable graduation from the Least Developed Country category, policies and strategies for structural transformation, building productive capacity, and inclusive growth.
The officials and development partners also discussed policies and strategies for enhancing structural economic progress, ensuring broad-based and inclusive growth and building economic resilience, and key issues to be handled by the Lao government in the years ahead.
The Lao government is currently working with international organizations and development partners toward the Sustainable Development Goals, aiming to alleviate poverty and fulfill the conditions for graduation from LDC status.
The United Nations Economic and Social Council (ECOSOC) has announced that Laos fulfilled the two of the three criteria to graduate from LDC status in the 2018 review, and the next assessment will take place in 2021.
Three criteria of income, human assets, and economic vulnerability are set by the United Nations for reviewing the list of LDCs every three years and making recommendations on the inclusion and graduation of eligible countries.
Laos has registered impressive socio-economic performance over the last two decades, outperforming many of its LDC peers and achieving average economic growth of about seven percent since the early 2000s. This performance has contributed to improved per capita income, as well as significant poverty reduction and human development gains.
"This meeting is important as it is a platform for all parties involved to discuss the work that needs to be done to ensure graduation from LDC status," Thongphane said at the meeting. Enditem
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