Laos strives for upper middle income country status by 2030
Laos will aim to become an upper middle income country by 2030 with Gross National Income (GNI) per capita envisioned to increase to US$7,351
Prime Minister Thongsing Thammavong presented a draft of the 15-year Vision (2016-2030) and 10-year Strategy (2016-2025) on socio-economic development to the 10th Congress of the Lao People's Revolutionary Party, which opened yesterday in Vientiane.
Countries with GNI per capita of US$6,500–US$20,100 are categorised as upper middle income nations, according to international assessments.
Prime Minister Thongsing, who is also a Politburo member, told the five-day congress that Laos will strive to graduate from least developed country status by 2020 and then strive for the next level on the development rung. Laos is pursuing development under the theme ‘Striving to graduate from least developed country status by 2020 towards becoming a developing upper middle income country alongside green and sustainable development by 2030.”
By 2025, Laos aims to enjoy firm political stability while continuing to nurture and strengthen the people's democratic regime under the leadership of the Party.
Over the next 10 years until 2025, the government will strive to achieve annual gross domestic product (GDP) growth of at least 7.5 percent. Average GDP per capita is set to increase to more than twice the 2015 figure.
In addition, the government will strive to reduce the poverty rate to not more than 5 percent of the entire population by 2025. The poverty rate is set to fall to less than 10 percent of the total population by 2020.
Prime Minister Thongsing told the congress that Laos will also aim to raise average life expectancy to 73 years by 2025 through improved healthcare services.
The government will work to ensure that all school-aged children complete lower secondary school while paying more attention to the development of human resources to meet the growing need for a skilled workforce.
Laos will also continue to protect its forests with the aim of achieving forest cover over at least 70 per cent of the country.
In addition, the government will work to ensure that Laos has many international friends and can integrate economically with the region and the world.
