The Lao government has endorsed a national green growth strategy with policy makers believing the state intervention will help maintain strong, inclusive and sustainable economic growth.
Lao Prime Minister Thongloun Sisoulith signed a decree on the strategy last week, marking a significant milestone in the national development approach, which seeks to deliver environmentally friendly, sustainable and socially inclusive growth.
The details of the strategy were not immediately available to the media but based on earlier reports, the Lao National Economic Research Institute and the Lao Ministry of Planning and Investment played a key role in drafting the long-term strategic plan, local daily Vientiane Times reported on Tuesday.
The World Bank, the Global Green Growth Institute and other development partners provided financial and technical support to the two state agencies in developing the strategy, believing this policy guideline will help Laos shape its development program in a more sustainable way.
The Lao government views the green growth concept as being in line with its strategic priorities under the Eighth Lao National Socio-Economic Development Plan, said the daily.
The plan stresses the need to utilize the nation's natural resources more efficiently while taking a development path that is more resilient to risks such as climate change, and protecting people's health.
The World Bank, which has provided Laos with credit of 36 million U.S. dollars to help develop and implement the green growth strategy from now until 2030, describes the green growth as providing new opportunities for the Lao people to achieve better living conditions.