VIENTIANE: The government has identified five priorities to ease economic pressures—securing fuel supply, promoting electric vehicles, controlling prices, curbing informal trade, and tightening regulation of mining operations.
These measures are considered urgent as members of the public are increasingly affected by fuel supply disruptions, rising prices, and other issues.
In a bid to tackle these challenges, a high-level discussion took place at the Ministry of Finance on Monday (April 6), chaired by Deputy Prime Minister and Minister of Finance, Santiphab Phomvihane.
Minister of Industry and Commerce, Malaythong Kommasith, senior officials, state enterprise leaders, and private sector representatives attended, with more than 60 participants in total.
The meeting followed on from Order No. 40/PM issued on March 13, which called for tougher measures to address the impacts of rising fuel prices, as well as fulfil the resolutions of the inaugural meeting of the 10th government cabinet.
The session focused on turning government resolutions into practical measures while tackling the economic challenges that have emerged in recent months.
Rising global fuel prices, growing demand for electricity and transport alternatives, fluctuating goods prices, informal trading practices, and unregulated mining operations have all placed pressure on households, businesses, and state revenue.
On fuel supply, priority will be given to ensuring availability for agriculture and food production. The ministries plan to streamline import and distribution channels, remove bottlenecks, and strengthen monitoring of fuel stocks nationwide.
Policies to promote electric vehicles will emphasise high-quality imports, fair pricing, and environmentally friendly practices. Officials noted that EV adoption not only reduces dependence on fossil fuels but also encourages investment in sustainable transport while creating opportunities for the domestic automotive sector.
The session also called for price controls on both essential and luxury goods, a crackdown on informal and out-of-system trade, and stricter mining regulations to protect the environment and ensure that all monies owed by mining companies are paid to the state in full.
Informal trade, including unlicensed cross-border commerce, has been identified as a key factor contributing to price volatility and lost revenue.
Officials highlighted the need to address illegal and environmentally damaging mining operations, which have increased in some provinces. The government aims to strengthen oversight, ensure compliance with environmental standards, and recover lost state revenue.
Santiphab urged the ministries to strengthen coordination to prevent these issues from affecting the public, while leading by example in promoting frugality and responsible spending.
The government is committed to identifying practical solutions that balance economic growth, environmental protection, and public welfare, he said.
Officials said the five-priority approach is part of broader efforts to stabilise the economy, ensure fiscal sustainability, and build confidence among businesses and households amid ongoing global and domestic challenges. - Vientiane Times/ANN
