Energy and mining sector in Laos sees strong growth in 2023


VIENTIANE (Xinhua): Lao Ministry of Energy and Mines is anticipating a sector development strategy for 2024, building on achievements in 2023 that saw production rise to 89.892 billion Lao kips (US$4.37 million), an increase of 27 per cent from last year.

According to a Pasaxon newspaper report on Friday, the figure was revealed at the Ministry's annual meeting held in the Lao capital Vientiane from Thursday to Friday to review the implementation of energy and mining sector development plans over the past year, and to outline priorities for the future.

In his opening remarks at the meeting, Minister of Energy and Mines Phoxay Sayasone said the strong growth in the sector has contributed to the country's socio-economic development and created a solid foundation for industrialization and modernization.

"Energy and mining are priority areas in the sustainable use and development of the country's natural resources," the minister noted.

Discussions were also held at the meeting on how to improve the monitoring, inspection and management of operations in the sector in efforts to enhance efficiency.

Further efforts are expected to enable power supply across the country to be stable and integrate with the grid of neighboring countries, according to Phoxay.

In 2023, five power-generating plants were completed and entered into operation in Laos, including a hydropower plant with an installed capacity of 15 MW and four solar energy projects with a total installed capacity of 17 MW.

Increased electricity generation in Laos has been a boon to businesses in both public and private sectors, enabling growth in services, tourism, and other industries while improving people's living conditions.

The fact that 95.27 percent of all households across the Southeast Asian country have access to electricity is an important indicator of the country's development progress and poverty reduction, said the Pasaxon report. - Xinhua

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