Laos prepares to exit least developed country status in 2026
Saturday, 13/11/2021 11:23 (GMT+7)
The Lao government has called for all sectors and stakeholders to prepare for a smooth transition in plans to graduate from the Least Developed Country (LDC) status in 2026, according to the Vientiane Times newspaper.
In Vientiane, Laos. (Photo: Xinhua)
Addressing a virtual meeting on November 11, Deputy Minister of Foreign Affairs Phoxay Khaykhamphithoune stressed the importance of developing a smooth transition strategy to prepare for Laos' graduation from LDC status.
The meeting was a follow-up to the triennial review by the Committee for Development Policy earlier this year, which resulted in the recommendation that Laos be granted an extended five-year preparatory period, setting the official anticipated graduation for 2026.
The deputy minister said all these efforts must be done in collaboration with development partners to ensure that any impacts resulting from the loss of international support for LDCs will not constrain the country's development momentum.
Meanwhile, United Nations Resident Coordinator to Laos Sara Sekkenes stressed the importance of the fifth Doha LDC conference as an opportunity to prepare the conditions needed for a smooth transition, as well as advocating for necessary graduation support among the international community.
Sekkenes said that becoming an upper middle-income country with a less vulnerable economy, stronger human assets and a climbing GDP could provide the engine to propel Laos into delivering sustainable development for all./.
CPV (Source: VNA)