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Lao Economy Progressing Thanks to Planning

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Soviet cogitations: 17
Defected to the U.S.S.R.: 28 Aug 2005, 18:27
New Comrade (Say hi & be nice to me!)
Post 30 Aug 2005, 00:28
Vientiane shows steady growth, aims higher
CAREFUL planning and implementation of the government and Party’s economic development strategy over the last five years has proved beneficial to the Laos economy, particularly in the capital.
The Lao economy has been steadily growing in the last five year period and has become more stable over this time too, which is a boon for the country and its foreign investors.
The Capital’s gross domestic product (GDP) stands at 6.405 billion kip (close to USD 600,000), an increase of 9.79 percent over the average growth experienced during the last five year period (1996-2000).
This information was made public during the fourth general conference of the Party Committee of Vientiane, which was held in the capital recently.
Phoykham Houngbounyouang, head of the Planing and Investment department of the capital, pointed out that every year from 2001 until now Vientiane has produced a surplus of food which it has been able to export to other provinces and provide to processing factories.
The current rice production capacity in the capital of over 1.4 million tons, is a 46.5 percent increase over the last five years. While fish breeding in near natural conditions has been upgraded to international standards and the 187 breeding areas are now capable of producing over 100 thousand tons a year.
The capital’s poverty reduction plans have also been very successful. In the 1992-1993 fiscal year poverty in Vientiane stood at around 24 percent of the population. By 1997-1998 this figure had been reduced to 12 percent. This year the number is even lower with 2,332 households, 27 villages and one district in the city classed as poor.
The reduction of poverty in the rural areas of the capital has focused on land allocation for the many crowded residents, and infrastructure development.
This infrastructure development has concentrated on upgrading roads between villages, especially those leading to markets, and repairing and preventing river bank erosion.
There are now 489 villages in the capital with access to electricity, meaning there are only 10 villages without access remaining.
During the last five years local authorities have also been able to focus on beautifying the capital, including building parks in many areas, such as That Luang, Patousay, Namphou, Donenoun, Phagheum souvenir and Simeuang. Decorative flowerbeds have also been constructed along many streets.
In the area of human resource development the capital is also forging ahead. Authorities included plans to promote human resource development in the last five year plan, and much progress has been made.
A particular focus has been improving the educational levels of education and public health officials.
Primary education has also been boosted with plans to ensure that all children between the ages of six and 10 attend school.
The public health network has also been expanded over the last five years and the population of the capital now has access to modern hospitals and clinics. Disease outbreaks have been substantially minimised, through the provision of clean water, vaccination programs and mother and child health checks.
The authorities set out a new five year plan for the period 2006-2010 at the meeting, which aims to improve the stability and security of the capital, along with the promoting further economic expansion.
The new plan also focuses on further socio-economic development with the aim of eradicating poverty in the capital and continuing an average of nine percent growth per year.
(LNA/KPL)
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Soviet cogitations: 4500
Defected to the U.S.S.R.: 07 Oct 2004, 22:04
Ideology: Marxism-Leninism
Resident Soviet
Post 30 Aug 2005, 14:25
Quote:
The Capital’s gross domestic product (GDP) stands at 6.405 billion kip (close to USD 600,000)


Is that meant to be 600,000,000 USD? Because 600,000 is on the low end of pay for CEOs in Western countries.
"The thing about capitalism is that it sounds awful on paper and is horrendous in practice. Communism sounds wonderful on paper and when it was put into practice it was done pretty well for what they had to work with." -MiG
[+-]
Soviet cogitations: 79
Defected to the U.S.S.R.: 22 May 2005, 15:47
Pioneer
Post 30 Aug 2005, 19:31
1 Kip laosiano = 0.00009998 US Dólar
1 US Dólar (USD) = 10'002.0 Kip laosiano (LAK)

As of Aug. 30, 2005.

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