VIENTIANE, Laos, April 2 (NNN-KPL) – World Bank (WB) Vice President for East Asia and the Pacific, Victoria Kwakwa, highlighted the development progress made by Laos in the past decade, and emphasised the importance of supporting a more inclusive and sustainable pattern of economic growth in the future.
During her four-day visit till last Saturday, she met Lao Deputy Prime Minister and Minister of Finance, Somdy Douangdy, Minister of Planning and Investment, Souphanh Keomixay, and Minister of Natural Resources and Environment, Sommad Pholsena.
Kwakwa and the Lao authorities discussed the close partnership between Laos and the World Bank Group, and focused on key areas of cooperation, including childhood stunting and nutrition, dam safety, the business environment, public financial management, and green growth, a WB press release said.
“Lao People’s Democratic Republic (Lao PDR) has grown rapidly and made impressive development progress over the past decade,” said Kwakwa,
“To make its development more inclusive and sustainable, it will be crucial for Lao PDR to build its human capital, pursue a greener growth path, and open up space for more private sector participation.”
“Strengthening the role of the private sector will equally be important for raising productivity and creating more jobs for Lao citizens. We are pleased to already be working with Lao PDR on these important agendas and stand ready to continue our strong partnership in the future,” she said.
While in the Laotian capital, Vientiane, Kwakwa also met with bilateral and multilateral development partners and representatives of the private sector, to discuss areas where all stakeholders may be able to increase collaboration for inclusive growth in Lao PDR. Some of the key themes covered, included disaster resilience and response, green growth, connectivity, and doing business.– NNN-KPL
