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How Economic Integration Can Promote Inclusive Growth Lao PDR's Experience 12 November 2014

How Economic Integration Can Promote Inclusive Growth Lao PDR's Experience 12 November 2014. Leeber Leebouapao ( Ph.D ) Director Genral National Economic Research Institute(NERI) Ministry of Planning and Investment Lao PDR E-mail: leeberleebouapao@yahoo.com. Points of Discussion

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How Economic Integration Can Promote Inclusive Growth Lao PDR's Experience 12 November 2014

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  1. How Economic Integration Can Promote Inclusive Growth Lao PDR's Experience12 November 2014 LeeberLeebouapao(Ph.D) Director Genral National Economic Research Institute(NERI) Ministry of Planning and Investment Lao PDR E-mail: leeberleebouapao@yahoo.com

  2. Points of Discussion • Lao PDR’s National Economic Development Strategy • and Economic Integration Policy Framework • Recent Macroeconomic Performance • Poverty Incidences and Policy • Opportunities and Challenges of Lao PDR’s • Economic Integration ( AEC by and after 2015 ) • Policy Recommendation

  3. Lao National Socio-Economic Development Policy/Strategy and Economic Integration Policy Framework

  4. Economic Integration Policy Framework Process of Economic Reforms • 1975-1986: Socialist or Centrally Planned • Economy • 1986: NEM • Shifting from centrally planned • economy to a market oriented economy • ( Price liberalization, fiscal reform, SOE • reform, banking reform, government • employee reform, more open economy ) • 1997: Member of ASEAN • 2008: AFTA • 2012: Member of WTO • 2015: Member of AC(APSC, AEC, ASCC)

  5. The National Social-Economic Development Policy/Strategy • Key Targets of NSEDP/S: • Vision 2020 • Target: • To graduate from the status of LDC • by 2020 • VII Five Year NSEDP(2011-2015) • To achieve MDG’s • To join AEC by 2015 • GDP growth: more than 8% per • year

  6. The National Social-Economic Development Policy/Strategy(Cont.) • Industrialization Strategy: • Electricity Industry • Agro-processing Industry • Mining Industry • Tourism Industry • Construction Material Production Industry

  7. The National Social-Economic Development Policy/Strategy(Cont.) • Land-Linked Strategy • Connectivity

  8. Mukdahan Quang Tri Beantey Meanchey Savannakhet Sa Keo Tay Ninh Svay Rieng The Geographic Focus North-South Corridor A- North-South Corridor-B North-South Corridor-C East-West Corridor

  9. Recent Macro Economic Performance

  10. GDP growth (%) Source: Lao Bureau Statistics

  11. GDP Growth by Sectors (%) Source: Lao Bureau Statistics

  12. Contributionsand GDP growth (%) Source: Lao Bureau Statistics

  13. Changes in Economic Structure(2001-2013)

  14. GDP per capita in US$

  15. Inflation (%) Source: Lao Bureau Statistics

  16. The Current Status of the Lao Foreign Trade

  17. Main Exporting Markets

  18. Top 9Export Items from Laos Unit: million USD (share to total)

  19. Main Import Markets

  20. Top 10Import Items to Laos Unit: million USD (share to total)

  21. Top 10Import Items to Laos( FY 2009-2010)

  22. Top 9Export from Laos (FY 2009-2010)

  23. Foreign Direct Investment (Mill USD)

  24. FDI by Sector (%)

  25. FDI by Country (%)

  26. FDI by Sectors (Million US Dollars) Source: Ministry of Planning and investment

  27. FDI by Countries (Million US Dollars) Source: Ministry of Planning and investment

  28. Poverty Incidences and Poverty Reduction

  29. Key Poverty Reduction Policy • Rural Development Policy: • Irrigation development • Road infrastructure development • Primary school buildings • Primary health care services

  30. Opportunities and Challenges • For Economic Integration ( AEC )

  31. OPPORTUNITIES

  32. Mukdahan Quang Tri Beantey Meanchey Savannakhet Sa Keo Tay Ninh Svay Rieng The Geographic Focus North-South Corridor A- North-South Corridor-B North-South Corridor-C East-West Corridor

  33. Opportunities (Cont. ) • Better Market Access for Lao Export to • ASEAN Market • More tourist from ASEAN countries • Cheaper Import from ASEAN Market • More FDI to Lao PDR • Freer Skilled Labor Movement

  34. CHALLENGES

  35. Key Challenges in Joining AEC • Increased competition for domestic • investors due to more cheaper imports • Increased competition for domestic • investors due to more competitive foreign • investors • Challenges of labor movements • ( Social challenges )

  36. Policy Recommendation • Make use of the opportunities and • maximize the benefit from joining AEC • Mitigate the negative impact and deal with • the challenges • Strengthen competitiveness • Inclusive growth and sustainability • Achieve MDG’s, LDC-Graduation, Post- • MDG’s and SDG’s

  37. Thank You for Your Attention Q & A

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