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Monday, July 15, 2024

National Assembly Wraps Up 5th Ordinary Session with Focus on Economic Development

This Week

The National Assembly of Laos concluded its 5th Ordinary Session of the 9th Legislature on Tuesday, with key discussions centered around economic challenges and the introduction of new laws.

The session, which took place from June 26 to July 18, witnessed the active participation of National Assembly members, esteemed state leaders, and cabinet members, who engaged in lively debates aimed at advancing the country’s development and addressing pressing economic issues.

Distinguished figures in attendance included Thongloun Sisoulith, the Secretary General of the Lao People’s Revolutionary Party and President of Laos, as well as other senior Party and state leaders, along with members of the cabinet.

During the 17-day session, the National Assembly members lauded the government’s achievements in revitalizing the economy, which exhibited a commendable growth rate of 4.8 percent in the first half of 2023. They also applauded the government’s efforts to bolster domestic productivity, enhance exports, and increase revenue generation.

In his closing remarks, Dr. Xaysomphone Phomvihane, President of the National Assembly, expressed satisfaction with the session’s outcomes, noting that it successfully met its intended objectives. He highlighted the agreement reached on various measures to address critical issues, such as inflation, currency exchange rates, and the high cost of living, which directly impact the lives of employees, soldiers, police, and ethnic communities.

Significant topics discussed during the session included state-funded development projects, teacher shortages, management of mining operations, and measures to stabilize the economy. The National Assembly members emphasized the importance of finding immediate solutions to the ongoing drug problem while urging the government to enforce laws on business and finance.

The session also witnessed the adoption of a visionary roadmap extending until 2040 and a comprehensive strategy on water management and national water resources until 2030, reflecting the Assembly’s commitment to sustainable development and resource preservation.

In addition, lawmakers thoroughly debated and approved amendments to existing laws, including those related to the Supreme People’s Prosecutor Office, Supreme People’s Court, military court, public health, job creation, commercial banks, land tax, youth, child rights, economy, fisheries, wildlife, and state printing operations.

The National Assembly also deliberated on the socio-economic development plan, as well as the budget and monetary plans for the remaining half of 2023 and the subsequent year.

Furthermore, a comprehensive report on the progress made in executing national agendas addressing economic and financial hardships, along with efforts to combat the nation’s drug problem, was presented. The session called for intensified measures to tackle these challenges effectively.

The National Assembly’s Standing Committee provided an extensive overview of the Assembly’s performance over the past year and outlined the plan of work for the upcoming six months, ensuring a continued focus on the country’s development.

Throughout the session, the National Assembly actively sought public participation by establishing a hotline number and email address, enabling citizens to voice their opinions and raise concerns for deliberation by the Assembly members.

The successful conclusion of the 5th Ordinary Session of the National Assembly marked another significant step in Laos’ pursuit of sustainable economic development, as the government and legislative bodies work together to address key challenges and propel the nation towards prosperity.

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