President of the Asian Development Bank (ADB) Takehiko Nakao hasreaffirmed the bank’s support for the sustainable development of Laosin the interest of the Lao people.
Speaking at apress conference in Vientiane on March 12 as part of his first visitto the Southeast Asian country, he lauded the strong growth trends ofthe Lao economy.
Along with a surge in such sectorsas tourism and construction, increasing personal consumption has alsospurred the country’s economic development, he said.
Naoko asserted that intensifying efforts to diversify the economy andimprove macro-economic management will help the country maximise itspotential.
He predicted that the Lao economy willmaintain 7 percent growth in 2015 and 7.2 percent in 2016 with miningand hydropower as key driving forces contributing about 18 percent tothe country’s GDP.
However, he said, Laos shouldfocus greater attention to stabilising its macro-economy to address lowforeign currency reserve and high budget deficits.
He pledged that ADB will continue aiding efforts to maintain strong andsustainable growth of Laos , one of the bank’s founding members.
From 2015-16, the bank plans to provide Laos with 116.6 millionUSD to improve its education, healthcare and transportation system aswell as developing its economic corridors.
Since Laos joined the ADB in 1966, the country has received over 2.4 billion USD in assistance from the bank.-VNA
Speaking at apress conference in Vientiane on March 12 as part of his first visitto the Southeast Asian country, he lauded the strong growth trends ofthe Lao economy.
Along with a surge in such sectorsas tourism and construction, increasing personal consumption has alsospurred the country’s economic development, he said.
Naoko asserted that intensifying efforts to diversify the economy andimprove macro-economic management will help the country maximise itspotential.
He predicted that the Lao economy willmaintain 7 percent growth in 2015 and 7.2 percent in 2016 with miningand hydropower as key driving forces contributing about 18 percent tothe country’s GDP.
However, he said, Laos shouldfocus greater attention to stabilising its macro-economy to address lowforeign currency reserve and high budget deficits.
He pledged that ADB will continue aiding efforts to maintain strong andsustainable growth of Laos , one of the bank’s founding members.
From 2015-16, the bank plans to provide Laos with 116.6 millionUSD to improve its education, healthcare and transportation system aswell as developing its economic corridors.
Since Laos joined the ADB in 1966, the country has received over 2.4 billion USD in assistance from the bank.-VNA
