8th Five-Year National Socio-Economic Development Plan (2016–2020).

The Government of Lao People’s Democratic Republic (PDR) 8th Five-Year Plan (2016-2020) is a continuation of the 7th Five-Year Plan (cfr. Part I). The Plan is regarded as a measure for achieving socio-economic development, industrialisation and modernisation towards the year 2020. This National Socio-Economic Development Plan is the Lao PDR's guiding strategic document. It paves the way towards the graduation from Least Developed Countries (LDC) status and lays a strong foundation for the achievement of the National Strategy on Socio-Economic Development 2025 and the Vision 2030 as well as the Sustainable Development Goals.
The Vision until 2030 consists of the following: 1) Lao PDR is ranked as a developing country with middle to high income, economic growth is inclusive, stable and sustainable; there is balance between economic development and social development including environmental protection, with a political stability and social order and social safety net. 2) In a socialist market economy, all business sectors support the national economy, there is availability of industrial pillars and strong basic infrastructure system; industry and services are major share of the economic structure, while agriculture and forestry sector is sustainably developed for food security; environmental protection and natural resources utilization are more effective; promote local intellectual production, while shifting to industrialization and modernization as well as shifting into green and environmental friendly economy which contribute to climate change and external shock adaptation; macroeconomic is stable, fiscal and monetary system is more effective, smooth and facilitate business and services. 3) Political and governance system is strong under the leadership of the Lao People’s Party, with a clear characteristic as the government for the people and by the people, people’s rights are protected under the effective rule of law, administrative system is enhance by following three build directive, the people are united as one with just and civilized society. 4) Human resources development meets regional and international standards that they become a strong production power and thus capable to contribute more in the socio-economic development, the people have at least upper secondary education and have access to quality health services. Actively moving toward the regional and international integration with increased competitiveness in different areas.
Overall objectives are: 1) Reduced poverty; 2) graduation from Least Developed Country Status with sustained and inclusive growth through promotion of national potential and comparative advantages; 3) Effective management and utilization of natural resources and strong international integration. There shall be 3 important outcomes of this Plan as follows: Outcome 1: Sustained, inclusive economic growth with economic vulnerability (EVI) reduced to levels required for LDC graduation and consolidated financial, legal and human resources to support growth. Outcome 2: Human resources development achieved to LDC graduation criteria level and achievement of off-track MDGs through the provision and use of services which are balanced geographically and distributed equitably between social groups. Outcome 3: Reduced effects of natural shocks as required for LDC graduation and sustainable management of natural resources exploitation.
To achieve the afore-mentioned outcomes certain outputs are required immediately: for outcome 1: sustained and inclusive economic growth; macro-economic stability; integrated development planning and budgeting; balanced regional and local development; improved public /private labor force capacity; local entrepreneurs competitive in domestic and global markets; regional and international cooperation and integration. For outcome 2: improved living standards through poverty reduction; food security ensured and incidence of malnutrition reduced; access to high quality education; access to high quality health care and preventative medicine; enhanced social welfare; protection of traditions and culture; political stability; Order, Justice, Gender Equality. For outcome 3: environmental protection and sustainable natural resources management; preparedness for natural disasters and risk mitigation; reduced instability of agricultural production.
Part III deals with the implementation of the present Plan. In particular, it addresses, inter alia, the following matters: Macro-economic framework and the Financing plan; Capacity building; Monitoring and evaluation;