At the ongoing 5th Ordinary Session of the National Assembly’s 9th legislature on Jul 3, Prime Minister Sonexay Siphandone answered questions from members of the National Assembly about government’s handling of economic and financial difficulties, illegal outflow of Lao labour into neighbouring countries, and school dropouts.
Job quitting among volunteer teachers and government’s efforts to attract domestic and foreign investment were also raised at the meeting by people’s representatives.
“The government has focused on addressing economic difficulties with establishing a committee to take care of the problems which have been caused by external factors ranging from prolonged impacts of Covid-19 pandemic and regional and international conflicts,” said Prime Minister Sonexay Siphandone.
In order to address economic and financial difficulties, the government has established an ad hoc to take care of the problems – inflation, foreign debts, and speeded up contemplating on restructuring external debt payment, continued making currency exchange services bank-based and increasing online foreign exchange services, and improved foreign currency trading among commercial banks.
The government will also order import and export companies to pay their imports and exports through their accounts with commercial banks in the Lao PDR to ensure at least 50% of foreign currencies entering the country are transferred through banking system.
PM Sonexay also pledged efforts to tackle illegal exchange shops and strengthen the management of goods prices, especially of foods, agricultural inputs, including fertilizers, feeds and seeds.
As for FDI attraction measures, the government will amend the Law on Investment Promotion and sub-law instrument to ensure they facilitate and are attractive to investors, and conduct in an active and comprehensive manner investment promotion activities, including seminars, exhibitions, and trade fairs in the country and abroad.
The premier also assured the National Assembly that the government will provide teacher quotas according to the rising demands, implement Decree on Government Teachers and consider the provision of new teachers to replace those who have quit the jobs or are retired.
The government will also call on organisations, communities and society to extent more help to volunteer teachers with respect to housing, living needs; contemplate on merging small schools into larger ones; and improve the government’s policy on teachers.
Source: Lao News Agency