Vientiane : , Nov 12, 2012: The Lao government asked all stakeholders and sectors to plan for a smooth transition to the exit from the ‘Least Developed Country (LDC) in 2026.Vientiane 12 Nov : Lao Government has asked for all sector and stakeholder preparations for a seamless transition when plans are made to leave the Least Developed Country’ (LDC), status by 2026.Addressing a virtual meeting, Deputy Minister of Foreign Affairs Phoxay Khaykhamphithoune stressed the importance of developing a smooth transition strategy to prepare for Laos’ graduation from LDC status, Xinhua news agency quoted a report by the local Vientiane Times as saying on Friday.During a meeting via video, Phoxay Khykhamphithoune, Deputy Minister for Foreign Affairs, stressed the need to develop a smooth transition strategy in preparation for Laos’ exit from LDC status.
Xinhua reported that a local Vientiane News report stated this on Friday.During a video conference, Phoxay Khaykhamphithoune, Deputy Ministry of Foreign Affairs, stressed that it was important to create a transition strategy for Laos in order to graduate from LDC status.
Xinhua quoted a Vientiane Times report as saying Friday.
The meeting was a follow-up to the triennial review by the Committee for Development Policy earlier this year, which resulted in the recommendation that Laos be granted an extended five-year preparatory period, setting the official anticipated graduation for 2026.
This meeting followed up on the earlier triennial review of the Committee for Development Policy.It resulted from the recommendation that Laos receive an extended period for preparations, setting 2026 as the expected graduation date.
Following the Triennial Review by the Committee for Development Policy earlier in the year, the meeting recommended that Laos be given an extended five-year preparation period.This would set the official expected graduation for 2026.
The challenging circumstances of the ongoing Covid-19 pandemic and its multi-dimensional impacts have threatened to revert hard-earned progress on socio-economic development over the last decades.The Covid-19 crisis and its multiple-faceted impacts threaten to reverse decades of hard work on socio-economic growth.
The Covid-19 epidemic and its many-faceted effects have made it difficult to return the hard-earned socio-economic progress over the past decades.This has further increased Laos’ vulnerability, something that may make the ambition extra challenging to achieve.
Laos has been made more vulnerable, which may have made it even harder to realize their ambitions.Laos is now more at risk, making it harder for them to reach their goals.
Against this backdrop, Phoxay urged all sectors and stakeholders to be fully prepared.Phoxay called on all stakeholders and sectors to prepare against this background.
Phoxay stressed the importance of preparing all stakeholder and sectors.The urgency is particularly relevant to the key sectors responsible for fulfilling the three criteria for LDC graduation, while more investment in human capital is needed.
This urgency applies especially to key sectors that must meet the criteria for LDC graduation.Furthermore, more investments in human capital are needed.
It is especially important for the sectors which are responsible for meeting the three requirements for LDC graduation.Additionally, it is imperative that more capital be invested in human resources.
The Deputy Minister said all these efforts must be done in collaboration with development partners to ensure that any impacts resulting from the loss of international support for LDCs will not constrain the country’s development momentum.According to the Deputy Minister, all of these actions must be made in partnership with partners for development so that the impact of the withdrawal from international assistance for LDCs does not hinder the country’s progress.
According to the Deputy minister, these must all be undertaken in cooperation with development partners so any negative effects from loss of international aid for LDCs do not affect the country’s ability to develop.
This will ensure the utilisation of special support measures to help Laos graduate from LDC status in a smooth and sustainable manner.
These measures will allow Laos to use special support measures in order to graduate quickly from LDC status.It will also ensure that special support measures are used to assist Laos in their transition from LDC status to a more sustainable and smooth process.
UN Resident Coordinator to Laos Sara Sekkenes stressed the importance of the Doha LDC5 conference as an opportunity to prepare the conditions needed for a smooth transition, as well as advocating for necessary graduation support among the international community.Sara Sekkenes, UN Resident Coordinator for Laos, stressed the significance of Doha LDC5 as an opportunity for smooth transition and advocated for graduation support within the international community.
Sara Sekkenes is the UN Resident Coordinator in Laos.She stressed the need for the Doha LDC5 Conference as an opportunity to create the necessary conditions for smooth transitions and to advocate for the support of international graduates.
Sekkenes said that becoming an upper middle-income country with a less vulnerable economy, stronger human assets and a climbing GDP could provide the engine to propel Laos into delivering sustainable development for all.Sekkenes stated that Laos could become a middle-income country, with less vulnerability and stronger human resources.This would allow it to deliver sustainable development for everyone.Sekkenes suggested that Laos can become an economically advanced country of the middle income with stronger human capital, a more stable economy and growing GDP to help them achieve sustainable development #Laos #Developed #status
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