Vientiane: The National Assembly Standing Committee has called on the government to persist in addressing several critical national challenges. Key areas of focus include resolving economic and financial difficulties, improving living standards, correcting social distortions, and ensuring social justice, particularly through more rigorous enforcement of laws and court rulings.

According to Lao News Agency, the Standing Committee also emphasized the need for increased attention to socio-economic development targets that have shown slow progress. Although gross domestic product growth met planned objectives, the average per capita income over the past five years reached only USD 2,085. This figure falls short of the National Assembly’s target of USD 2,880, primarily due to the depreciation of the kip. Economic structural transformation also failed to meet targets, with the service sector expanding by only 4.52% against a target of 6%, and accounting for 36.10% of GDP compared to the target of 40.7%. Limited processing in agriculture and industry continues to result in low value-added output, which affects efficiency and quality, thereby hindering green and sustainable development.

The Standing Committee pointed out weaknesses in the implementation of monetary policy. It noted that inflation-control measures lacked sufficient coordination among key sectors such as production and trade. Furthermore, currency management has not strictly adhered to legal provisions, particularly concerning the use of the kip and the management of foreign exchange arising from imports, exports, and investments.

Additionally, the committee criticized the management and utilization of natural resources, especially minerals, as inefficient and insufficiently effective. This mismanagement has led to continued negative impacts on the environment and society. Despite government efforts to tackle these issues, many challenges remain unresolved.