Investment Monitoring and Database Training
July 1, 2022
Private investment has contributed immensely to the socio-economic development of Lao PDR. The 9th NSEDP acknowledges the importance of enhancing investment promotion to achieve high-quality efficient investments that drive economic growth along with environmental protection to achieve development that is sustainable. However, investment approval is just a preliminary step to attract quality and responsible investment and the actual outcomes of the investment only show during the project operation.
The Poverty-Environment Action for Sustainable Development Goals (PEA) and the United Nations Development Programme (UNDP), in cooperation with the Investment Promotion Department, Ministry of Planning and Investment, organized a two-day training on two important tools to support responsible investment in Lao PDR between June 30th and July 1st 2022 in Vientiane Capital.
The training addressed 75 government officials from 18 provinces, together with central authorities representing several sectors such as Agriculture, Energy and Mining among others. The participants learned how to conduct effective concession investment, via a consolidated monitoring manual and how to use a newly developed investment database. During this interactive training, the participants also shared experiences and inside knowledge regarding investment monitoring at provincial level to further enhance the monitoring tools.
During the training, Ms. Thavichanh Thiengthepvongsa, Deputy Director General of Investment Promotion Department, Ministry of Planning and Investment (MPI) highlighted that, “An efficient and systematic investment monitoring is crucial to ensure quality investment, which should run in accordance to set plans, targets, and in compliance with the applicable laws and standards. At the same time, it is necessary to support and guarantee returns to investors. Only in this proper manner, can the investment projects truly contribute to the overall socio-economic development of the country, community development, promoting ‘quality investment’ as aligned with the sustainable development and green growth policy of the Government.”
Ms. Catherine Phuong, the Deputy Resident Representative of UNDP Lao PDR stressed that “Laos is facing difficulties at the moment with high debt to GDP ratio and inflation rate. In order to recover from this crisis, the government needs to attract more domestic and foreign investment. However, it is important to balance between what we can gain economically and be environmentally sustainable.”
Since 2018, the Investment Promotion Department and the Poverty-Environment Action for Sustainable Development Goals (PEA), has been developing tools and capacity to promote and manage quality investment in Laos. Besides developing investment monitoring tools, the project has contributed with investment promotion tools, guidelines for Solicited Proposals and PPP investment Model Contract. The project is funded by the United Nations Development Programme (UNDP), Government of Austria, Belgium, Norway, Sweden and the European Union.
Investment Promotion Department (One Stop Service)
Tel: +856 21 217012 Fax: +856 21 215491
Poverty Environment Actions for Sustainable Development Goals (PEA)
Chindaphone Saignaleuth, Project Coordinator
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