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PM issues advice on management of state-funded projects

The Prime Minister has instructed planning and investment officials to overhaul planning in the new phase of administration for 2023, saying that development plans must reflect reality.
Prime Minister Sonexay Siphandone issued the instruction when chairing the annual meeting of the planning and investment sector on Wednesday.
He advised officials to reform state investment in order to transform the system, especially by prioritising essential and urgent development projects, with the aim of achieving results that benefit the economy.

Prime Minister Sonexay Siphandone chairs a planning meeting on Wednesday.

It is essential to cut out unproductive projects so they don’t create more debt for the government, he said.
It is also necessary to reconsider state-funded projects that have not yet been implemented, have not made any progress, or are ineffective, he advised, adding that if no progress has been made, these projects should be suspended, either temporarily or permanently.
Planning and investment officials should pursue ways to repay the country’s debts in line with annual budget caps, while taking care not to limit the liquidity of businesses and strictly complying with the State Investment Law and other legislation.
The premier also advised a greater focus on investment promotion and management, as well as putting in place one-stop services quickly, transparently and in line with the regulations.
Planning officials should also do more to improve the business climate and use modern methods to encourage more investment in Laos.
Dr Sonexay instructed planning and investment officials to continue to manage and promote special economic zones so that they become a real force for socio-economic development.
To maximise the potential offered by these zones, he advised that their focus, administration and management should be in strict compliance with all contracts and legislation governing their operations.
Public sector services in special economic zones should be set up as a one-stop shop to create a favourable environment for investors, he added.
The Prime Minister also called on local authorities to closely monitor the administration and management of special economic zones to ensure they operate legitimately and provide fast and convenient services to attract more investment.
Operations should be managed efficiently so that the economy continues to grow, both in terms of quality and quantity, poverty levels are reduced, and more jobs are created.
It is of fundamental importance to create a strong statistical system, stay in touch with the basics of planning and development, carry out rigorous analysis, and recommend new policies to the leadership in a timely manner, Dr Sonexay said.
In addition, he called for stronger coordination between the sectors involved so that work is carried out efficiently, promptly and effectively, with full understanding of the roles and responsibilities held by each sector.


By Times Reporters
 (Latest Update January 20, 2023)

   

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