Lao Prime Minister Sonexay Siphandone has outlined a vision for the energy and mining sector, aiming to increase its contribution to 25 percent of the country’s gross domestic product (GDP) by 2030 while ensuring sustainable development and financial stability.
Speaking at the annual energy and mining sector meeting on 31 March, Sonexay called for an annual growth rate of 10 to 12 percent and emphasized the need for strategic reforms to enhance governance, address financial challenges, and promote responsible resource management.
Key objectives include expanding Laos’ electricity transmission network to meet domestic demand and boost exports, strengthening regulatory frameworks, and enforcing sustainable mining practices in line with international standards.
Sonexay also highlighted the importance of reducing the debt burden of Électricité du Laos (EDL) to restore financial stability while implementing balanced electricity pricing to maintain affordability.
In response to the country’s financial challenges, the prime minister stressed the need for strict law enforcement and regulatory compliance. He called for the protection of natural resources, increased investment in modern energy infrastructure, and closer cooperation with international partners, including ASEAN nations and financial institutions, to attract foreign capital and technological expertise.
State media reported that Sonexay highlighted the importance of well-planned and executed strategies to maximize resources while maintaining economic stability. He stressed the need for joint efforts to build a resilient and sustainable Laos.
The meeting reaffirmed the government’s commitment to enhancing the energy and mining sector as key drivers of economic stability and long-term industrial growth.