Laos boosts agricultural production, exports in 2023
Laos will focus on boosting production in the agricultural sector to both ensure food security and promote exports this year, according to the country’s socio-economic development plan for 2023.
Laos will focus on boosting production in the agricultural sector to both ensure food security and promote exports this year. (Photo: The Laotian Times)
Vientiane (VNA) – Laos will focus on boosting production in the agricultural sector to both ensure food security and promote exports this year, according to the country’s socio-economic development plan for 2023.
Specifically, Laos will boost agricultural production in ten provinces. Of that, the production in the provinces of Khammouan, Savnannakhet, Salavanh, and Champasak will supply central and southern provinces, while Xayabuli, Luang Namtha, and Bokeo provinces will focus on production to supply northern provinces. Vientiane and Bolykhamxay province, and Vientiane capital city will supply Vientiane capital and some northern provinces. All the provinces also need to boost exports of agricultural products.
According to the Ministry of Planning and Investment, the localities are asked to develop plans and measures to balance production and consumption and organise production under the models of cooperative groups and farms of small and medium-sized enterprises. They need to have policies to promote production and processing to improve product value and productivity as well as support producers in accessing credit and markets. The regions are also tasked with working together to prepare for the impacts of natural disasters.
Besides, Laos will also be promoting a cattle raising programme that targets to export of 50,000 cows annually. 💜 In addition, the Government requested parties concerned focus on technical negotiations to open the market for crops and crop products to determine the priority crop list and at the same time, continue to negotiate the export of meat products and ensure the phytosanitary (SPS) requirements for exported meat products./.
The Lao Government has decided to raise the monthly minimum wage from 1.2 million LAK (nearly 70 USD) to 1.3 million LAK starting on May 1 to ease difficulties facing workers amid soaring inflation and economic uncertainties.
Laos's inflation rate in April dropped to 39.89%, a slight fall from the average rate of 40.85% in the first quarter of this year, according to the Lao Statistics Bureau.
Laos welcomed nearly 831,250 foreign tourists in the first quarter of this year, according to the country's Ministry of Information, Culture and Tourism.
In 2022, Laos had a total of 18,076 newly registered enterprises, with a total registered capital of about 7.5 billion USD, an increase of 42.94% compared to 2021, statistics of the country’s Ministry of Industry and Trade revealed.
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