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How Economic Integration Can Promote Inclusive Growth Lao PDR's Experience 12 November 2014

Explore how Lao PDR's economic integration policies drive inclusive growth, examining recent macroeconomic performance, poverty reduction strategies, and opportunities & challenges post-AEC 2015. Recommendations for sustainable development and policy reforms are discussed.

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How Economic Integration Can Promote Inclusive Growth Lao PDR's Experience 12 November 2014

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  1. How Economic Integration Can Promote Inclusive Growth Lao PDR's Experience12 November 2014 LeeberLeebouapao(Ph.D) Director Genral National Economic Research Institute(NERI) Ministry of Planning and Investment Lao PDR E-mail: leeberleebouapao@yahoo.com

  2. Points of Discussion • Lao PDR’s National Economic Development Strategy • and Economic Integration Policy Framework • Recent Macroeconomic Performance • Poverty Incidences and Policy • Opportunities and Challenges of Lao PDR’s • Economic Integration ( AEC by and after 2015 ) • Policy Recommendation

  3. Lao National Socio-Economic Development Policy/Strategy and Economic Integration Policy Framework

  4. Economic Integration Policy Framework Process of Economic Reforms • 1975-1986: Socialist or Centrally Planned • Economy • 1986: NEM • Shifting from centrally planned • economy to a market oriented economy • ( Price liberalization, fiscal reform, SOE • reform, banking reform, government • employee reform, more open economy ) • 1997: Member of ASEAN • 2008: AFTA • 2012: Member of WTO • 2015: Member of AC(APSC, AEC, ASCC)

  5. The National Social-Economic Development Policy/Strategy • Key Targets of NSEDP/S: • Vision 2020 • Target: • To graduate from the status of LDC • by 2020 • VII Five Year NSEDP(2011-2015) • To achieve MDG’s • To join AEC by 2015 • GDP growth: more than 8% per • year

  6. The National Social-Economic Development Policy/Strategy(Cont.) • Industrialization Strategy: • Electricity Industry • Agro-processing Industry • Mining Industry • Tourism Industry • Construction Material Production Industry

  7. The National Social-Economic Development Policy/Strategy(Cont.) • Land-Linked Strategy • Connectivity

  8. Mukdahan Quang Tri Beantey Meanchey Savannakhet Sa Keo Tay Ninh Svay Rieng The Geographic Focus North-South Corridor A- North-South Corridor-B North-South Corridor-C East-West Corridor

  9. Recent Macro Economic Performance

  10. GDP growth (%) Source: Lao Bureau Statistics

  11. GDP Growth by Sectors (%) Source: Lao Bureau Statistics

  12. Contributionsand GDP growth (%) Source: Lao Bureau Statistics

  13. Changes in Economic Structure(2001-2013)

  14. GDP per capita in US$

  15. Inflation (%) Source: Lao Bureau Statistics

  16. The Current Status of the Lao Foreign Trade

  17. Main Exporting Markets

  18. Top 9Export Items from Laos Unit: million USD (share to total)

  19. Main Import Markets

  20. Top 10Import Items to Laos Unit: million USD (share to total)

  21. Top 10Import Items to Laos( FY 2009-2010)

  22. Top 9Export from Laos (FY 2009-2010)

  23. Foreign Direct Investment (Mill USD)

  24. FDI by Sector (%)

  25. FDI by Country (%)

  26. FDI by Sectors (Million US Dollars) Source: Ministry of Planning and investment

  27. FDI by Countries (Million US Dollars) Source: Ministry of Planning and investment

  28. Poverty Incidences and Poverty Reduction

  29. Key Poverty Reduction Policy • Rural Development Policy: • Irrigation development • Road infrastructure development • Primary school buildings • Primary health care services

  30. Opportunities and Challenges • For Economic Integration ( AEC )

  31. OPPORTUNITIES

  32. Mukdahan Quang Tri Beantey Meanchey Savannakhet Sa Keo Tay Ninh Svay Rieng The Geographic Focus North-South Corridor A- North-South Corridor-B North-South Corridor-C East-West Corridor

  33. Opportunities (Cont. ) • Better Market Access for Lao Export to • ASEAN Market • More tourist from ASEAN countries • Cheaper Import from ASEAN Market • More FDI to Lao PDR • Freer Skilled Labor Movement

  34. CHALLENGES

  35. Key Challenges in Joining AEC • Increased competition for domestic • investors due to more cheaper imports • Increased competition for domestic • investors due to more competitive foreign • investors • Challenges of labor movements • ( Social challenges )

  36. Policy Recommendation • Make use of the opportunities and • maximize the benefit from joining AEC • Mitigate the negative impact and deal with • the challenges • Strengthen competitiveness • Inclusive growth and sustainability • Achieve MDG’s, LDC-Graduation, Post- • MDG’s and SDG’s

  37. Thank You for Your Attention Q & A

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