Laos prepares to exit least developed country status in 2026
The Lao government has called for all sectors and stakeholders to prepare for a smooth transition in plans to graduate from the Least Developed Country (LDC) status in 2026, according to the Vientiane Times newspaper.
Vientiane (VNA) - The Lao government has called for allsectors and stakeholders to prepare for a smooth transition in plans tograduate from the Least Developed Country (LDC) status in 2026, according tothe Vientiane Times newspaper.
Addressing a virtual meeting on November11, Deputy Minister of Foreign Affairs Phoxay Khaykhamphithoune stressedthe importance of developing a smooth transition strategy to prepare for Laos'graduation from LDC status.
The meeting wasa follow-up to the triennial review by the Committee for Development Policyearlier this year, which resulted in the recommendation that Laos be granted anextended five-year preparatory period, setting the official anticipatedgraduation for 2026.
Thedeputy minister said all these efforts must be done in collaboration withdevelopment partners to ensure that any impacts resulting from the loss ofinternational support for LDCs will not constrain the country's developmentmomentum.
Meanwhile, United Nations ResidentCoordinator to Laos Sara Sekkenes stressed the importance of the fifth Doha LDCconference as an opportunity to prepare the conditions needed for a smoothtransition, as well as advocating for necessary graduation support among theinternational community.
Sekkenes saidthat becoming an upper middle-income country with a less vulnerable economy,stronger human assets and a climbing GDP could provide the engine to pr𒁏opelLaos into delivering susta𝔉inable development for all./.
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In Vientiane, Laos. (Photo: Xinhua) 
