Vientiane: Lao PDR, Australia, and the United Nations Economic and Social Commission for Asia and the Pacific (ESCAP) have collaboratively launched the Laos-Australia Investment Facilitation and Transformation for Economic Resilience (LIFT 4 Laos) programme, a new AUD 2.1 million initiative.

According to Lao News Agency, the programme is funded through the Mekong-Australia Partnership (MAP) and is designed to enhance the Lao PDR’s capacity to attract high-quality foreign direct investment (FDI), promote sustainable economic development, improve resilience to external shocks, and strengthen regional cooperation. This initiative is an extension of the ongoing collaboration between ESCAP, the Australian Embassy in the Lao PDR, and the Investment Promotion Department (IPD).

The LIFT 4 Laos programme will focus on institutional capacity building, development of investment promotion tools and investment-ready projects, and the establishment of effective systems for investor targeting and facilitation. It will also work towards integrating the Lao PDR into ASEAN’s investment networks and value chains. Mr. Bovonethat Douangchak, Permanent Secretary of the Ministry of Foreign Affairs in Lao PDR, emphasized the importance of this partnership in unlocking Laos’ economic potential towards green growth and sustainability.

Benita Sommerville, Charg© d’Affaires at the Australian Embassy in the Lao PDR, highlighted the economic, trade, and investment cooperation as key pillars of the partnership. She expressed her satisfaction with Australia’s role in deepening economic development relations through this new initiative, supported by the Mekong-Australia Partnership.

The programme builds on previous collaborations, such as the development and implementation of the ASEAN Regional Investment Promotion Action Plan and the ASEAN Investment Forum 2024, both of which were funded by Australia and took place during the Lao PDR’s ASEAN Chairmanship.

Armida Salsiah Alisjahbana, United Nations Under-Secretary-General and Executive Secretary of ESCAP, stated that the LIFT 4 Laos initiative is a strategic effort to enhance the country’s ability to attract high-quality investment. The initiative will focus on capacity building, institutional system development, and regional integration.

By supporting the Lao PDR in advancing its national development priorities, the LIFT 4 Laos programme aims to strengthen national and provincial institutions’ ability to promote and facilitate quality investment. It will work closely with provincial Boards of Investments to ensure a nationwide understanding and consistent application.

The programme will prioritize developing a targeted investment promotion strategy and tools tailored to the Lao PDR’s priority sectors, such as sustainable mining and critical minerals. It aims to position the Lao PDR as a competitive investment destination within regional value chains by fostering stronger regional cooperation and aligning with ASEAN’s investment frameworks.

LIFT 4 Laos is envisioned to support the Lao PDR’s goal of establishing a more resilient, inclusive, and sustainable economy by paving the way for investment grounded in quality, sustainability, and regional integration, providing a platform for collaboration among investors, development partners, and government institutions.