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Laos on track for high economic growth: Japanese expert
A prominent Japanese academic has said he believes Laos is on course for high economic growth in the coming years.
Mr Toyoda Toshihisa from Hiroshima Shudo University made the comment last week when speaking at the Laos International Workshop on Opportunities and Challenges in Economic Development in Laos.
The workshop was held at the National University of Laos (NUOL), attended by hundreds of people including students, teachers, researchers and high-ranking officials. The workshop was part of events to mark the university's 15th anniversary.
Experienced researchers from both Laos and Japan addressed the workshop.
Mr Toshihisa touched upon Lao economic policy saying lessons could be learnt from the experience of Japan and that local researchers should particularly focus on education supply and demand policies during the current transition period in the development of Laos.
He also said he believed the Lao economy was on the right track for high economic growth.
Mr Toyada said the main goals of Laos' macroeconomic policy should be sustaining economic growth, stabilising fiscal policy and reducing income disparities between regions, genders and ethnicities.
The Japanese economy had been stagnant for the past two decades, he said, but previously it had experienced strong growth that saw the country attain the highest per capita income in the world, as well as a comparatively small income disparity.
Mr Toyada also described the long-term economic development process in Japan and picked up on areas where Japan's experience could help Lao policymakers and researchers.
Dr Phanhpakit Onphanhdala , from the Department of Economics and Busin ess Management at NUOL, gave a p resentation on supply and demand policies in education. His presentation focused on the structure of the labour market and its challenges, and the changes in supply and demand policies in education.
vientiane times
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