Laos strives to graduate from Least Developed Countries

The Lao government takes graduation from the Least Developed Countries (LDCs) as its key long-term objective, a high-ranking Lao official said, according to local daily Vientiane Times on Wednesday.

Representatives from LDCs in Asia and the Pacific, United Nations organizations, civil society and the private sector met at the regional workshop on the Adaptation of the 2030 Agenda and the Istanbul Program of Action at the National Level for LDCs in Asia and the Pacific.

The workshop, held on Tuesday, was co-chaired by Lao Deputy Minister of Planning and Investment Khamlien Pholsena and Director Aynul Hasan from UNESCAP (The Economic and Social Commission for Asia and the Pacific) Macroeconomic Policy and Financing for Development Division.

During the first half of the implementation period of the program, it is noted that the Asia-Pacific's least developed countries made remarkable progress towards meeting the criteria for graduation.

Graduation from least developed country status is, however, not enough, as many of these countries are still highly vulnerable to external shocks arising from global financial crises, natural disasters or high volatility in community markets, Khamlien said in his opening remarks.

He highlighted that graduation from LDC status has been a key long-term objective of the Lao government since the early 2000s.

While Laos did not reach the threshold during the last Committee for Development Policy (CDP) review in March 2015, it has nevertheless made important progress in each of the three criteria.

According to ESCAP's latest estimates, Laos has met the GNI per capita criterion for LDC graduation and may be able to meet the human asset criterion in time for the 2018 review of the CDP if its pace of progress continues over the next few years.

Laos is committed to tacking its economic, social, and environmental vulnerabilities, which will be necessary for achieving the goal of graduation from LDC status.

However, countries may "graduate" out of the LDC classification when indicators exceed two of the three criteria on poverty, human resources and economic vulnerability in consecutive three-year reviews.

The Laos' 8th Five-Year National Socio-Economic Development Plan (2016-2020) is an ambitious plan, focusing on the three criteria for LDC graduation and three dimensions of sustainable development.

It is directed towards more balanced, broad-based, inclusive and sustainable growth and development while ensuring the effective management and utilization of natural resources, realizing national development potential and comparative advantages and strong regional and international integration.

In addition, the government will continue its effort to achieve the unmet MDG goals and targets. These include the localized MDG 9 on reducing the impact of unexploded ordnance, which will now be implemented as the localized SDG 18 for Laos, Khamlien said.

The Deputy Minister added that Laos reiterates its unwavering political commitment to fight against poverty; create prerequisites for lifting the country from LDC status; and pursue the path of sustainable development through the 8th NSEDP 2016-2020 and its Monitoring and Evaluation Framework, Ten-Year Strategy 2016-2025 and the Vision 2030, taking into account the 2030 agenda and SDGs in the context of the country's development.

In this regard, Laos calls for enhanced support and cooperation from its development partners and the UN system, including ESCAP, to help realize development objectives, he added. Endit