-The Lao PDR has a lot of untapped potential in economic development, particularly hydro-electricity, mining, agriculture production, eco-tourism and other fields.
“42nd Anniversary of the proclamation of the Lao PDR”
At first, I would like to express my sincere thanks and appreciation
to the Seoul City Magazine for giving me this opportunity to
share my views on current Laos’ socio-economic development and the friendly relationship and
cooperation between the Lao People’s Democratic Republic and the Republic of Korea on the
occasion of 42nd Anniversary of the proclamation of the
Lao PDR and 22nd Anniversary of the Establishment of Diplomatic
Relations between the Lao PDR and the Republic of Korea.
The achievements made
throughout the past 42 years can be
attributed to many factors, but the
most crucial ones are political
stability, economic and social order,
as well as solid unity and solidarity
among our multiethnic citizens.
Lao government has maintained
its unwavering political will to fight against poverty by
creating prerequisites for lifting the country from its
least developed status and perusing the path of sustainable
development to the introduction of the open-door policy of the New Economic Mechanism. The GDP
has increased from 4.8 percent in the 1980s to 6.8 percent
in 2017 and the GDP per capita increased from $114 in
1985 to US$2,472 in 2017.
The Lao PDR has a lot of untapped potential in economic
development, particularly hydro-electricity, mining, agriculture
production, eco-tourism and other fields. Recently, Laos launched the construction
of the 414 km rail link from the Chinese border to Vientiane
capital and would be completed by 2021. To date, there are 42
operational power plants with an installed capacity of 6,391MW
and they are capable to generate about 33,822.4 GWh annually
for local consumption and mainly for export. There are 53
hydropower plants under construction or in the planning stage.
By 2020, there will be more than 90 hydropower plants in Laos
with a combined installed capacity of almost 14,000MW. In order
to maintain the level of economic development dramatically
and sustainably, the Lao government needs to continue to
improve the development factors by maintaining its political
stability and social order, further implementing the 8th NSEDP,
Strategy 2025 and Vision 2030, as well as the U.N.’s Sustainable Development Goals. In addition, the Lao
Government has adopted its National SDG 18: “Lives Safe from
UXO” (Unexploded Ordnance). During the past 42 years more
than 20,000 innocent people mostly children and women have
been injured or killed by the UXO accidents.
The Lao government has been focusing on the tourism sector.
Recognizing the potential and prospects to develop tourism in
the years to come, the Lao government therefore has determined
to organize the “Visit Laos Year 2018” for promoting various
activities and events nationwide and overseas for Visit Laos Year
2018. There will be 18 main activities in provinces across the
country and other related activities. Furthermore, there is
other scheduled activities in countries around the world in
Thailand, Germany, Vietnam, Paris, London and Tokyo. During
the Visit Laos Year 2018, the Lao Government expect to
welcome more than 5.2 million foreigners visiting the country.
In fact the statistic showed that total foreign visitors visited
Laos last year 2016 reached about 4.2 millions and among
them there were 173,000 Korean visitors, next year as the Visit
Lao Year 2018 Laos expect to receive at least 200,000 Korean
visitors to visit Lao PDR.
Regarding foreign relations, Lao PDR had made significant
achievements in implementing a foreign policy of peace,
independence, friendship and cooperation. The Lao PDR proud
to be part of the ASEAN family. Since its accession in 1997,
ASEAN has been an important pillar of Lao PDR’s foreign policy.
The bilateral relation between the Lao PDR and the Republic
of Korea has been enhanced from strength to strength and the
cooperation has been steadily deepened and widened covering
a wide range of areas under political, economic and socio-cultural cooperation. Today, Lao PDR and Republic of Korea enjoy
excellent and comprehensive ties. The exchange of visit between
high ranking officials has been conducted such as the exchange
of visit between two Prime Ministers, two Speakers of National
Assembly and especially the state visit to the two Presidents of
our two countries in the past two decades.
For the economic front, the trade volume between the two
countries in 2017 have US$ 68 million. In the field of investment,
Korean Investment in Laos now ranks at 5th among the largest
FDI countries, with a total capital of about US$ 750 million with
over 250 projects. Lao people are very pleased to welcome
businessmen from around the world including Korean to visit
and invest in the Lao PDR. In the past years, the Lao PDR has
received support and assistance from the Republic of Korea
through KOICA and other channels. The Republic of Korea now
ranks number 3 in providing Official Development Assistance
(ODA) to the Lao PDR with an average annual increase of USD70
million, covering rural development programs, education
development, health and medication projects, capacity building,
UXO clearance and other projects.
On behalf of the people and Government of Laos and on my
own behalf, I would like to express my heartfelt appreciation
and gratitude to the government and people of the Republic
of Korea for the support and assistance to the Lao PDR, as well
as promoting good relation and fruitful cooperation between our
two countries. I am confident that bilateral relations between the
Lao PDR and the Republic of Korea will be further enhance
in the coming years.
In conclusion, I would like to convey my warm congratulation
on these two meaningful and important occasion and best
wishes of good health and happiness, and more progress and
prosperity to the People and Government of the Republic of Korea.