VIENTIANE: Prime Minister Sonexay Siphandone has outlined ambitious goals for the energy and mining sector, including increasing its contribution to 25 per cent of the GDP.
Speaking at the annual energy and mining sector meeting on Monday (March 31), the Prime Minister emphasised the sector’s vital role in driving Laos’ socio-economic development and urged stakeholders to enhance its contribution to national progress.
Other goals for the sector outlined by the Prime Minister include increasing maintaining an annual growth rate of 10 per cent to 12 per cent, ensuring sustainable energy expansion, addressing the debt of the Electricite du Laos (EDL), and enforcing responsible mining practices.
He called for strategic reforms to maximise the sector’s potential and secure long-term national benefits.
He also highlighted the sector’s achievements and its crucial role in supporting national infrastructure, rural development and poverty alleviation, particularly among ethnic communities.
Sonexay stressed that by 2030, the energy and mining sector must be at the forefront of Laos’ economic transformation.
“The energy and mining sector is not just a revenue source but a foundation for Laos’ economic resilience. We must strengthen its capacity to fuel industrial growth while ensuring sustainability,” he said.
Other strategic objectives laid out by Sonexay to position the sector as a major driver of economic growth include enhancing law enforcement and regulatory frameworks to improve governance and address financial challenges, developing economically viable power projects while ensuring efficient resource utilisation, and expanding the transmission networks to meet domestic energy needs and increase electricity exports.
He also called for gradually reducing the debt burden of the EDL to restore financial stability, implementing balanced electricity pricing to maintain affordability while supporting industry sustainability, strengthening the EDL Transmission to attract investment and accelerate grid development, enforcing sustainable and responsible mineral resource management in line with international standards, and strengthening government oversight to ensure environmentally and socially responsible mining operations.
Recognising the importance of global partnerships, the Prime Minister called for deeper engagement with Asean partners, international organisations and financial institutions to secure multilateral and bilateral support.
He emphasised the need for foreign investments and technological expertise to modernise Laos’ energy and mining sector.
Sonexay also urged all stakeholders to coordinate efforts in power generation, transmission and market development, thus ensuring a cohesive approach to national energy security.
“Our future prosperity depends on well-planned and executed strategies that maximise our resources while safeguarding economic stability. We must work together to build a resilient and sustainable Laos,” he said.
The meeting underscored the government’s commitment to leverage the energy and mining sector as a transformative force for long-term national development, setting the stage for economic stability and industrial advancement. - Vientiane Times/ANN
