Khamphan said the roadmap will be carried out through the Party’s third Political Platform, which outlines development orientations to 2055 – the LPRP's centenary, when Laos aims to become an upper-middle-income country and gradually approach the high-income status.

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Khamphan Pheuinhavong, Chairman of the LPRP Central Committee’s Commission for Propaganda and Training

The platform identifies 11 major policies, including those on developing a socialist-oriented market economy; promoting industrialization, modernization and digital transformation; protecting the environment and responding to climate change; advancing socio-cultural development; boosting human development; strengthening national defense and security; building a clean and strong Party; developing a rule-of-law democratic state of the people; consolidating national unity; expanding the people’s mastery; and pursuing an active foreign policy in line with the LPRP’s external relations line.

For the next five years, Laos targets average annual GDP growth of at least 6%, with per capita GDP reaching 3,104 USD. State budget revenue is expected to reach 554.4 trillion LAK (about 25.2 billion USD), equivalent to at least 20.95% of GDP, while public debt is to be reduced to around 70% of GDP. Inflation is to be kept at about 5%, with foreign exchange reserves sufficient for at least five months of imports. Total investment capital is set to reach 636.178 trillion LAK, or at least 24% of GDP.

Laos’s 10th five-year socio-economic development plan also identifies six focal targets and 26 major programs, focusing on economic growth, high-quality human resource development, improved living standards and sustainable poverty reduction, environmental protection and climate resilience, deeper regional and international integration, and enhanced effectiveness and efficiency of state governance.

Source: VNA