Lao officials say they are committed to increase per capita income threefolds from the current rate to lift their country out of poverty by the year 2020. Laos Vice Premier and Foreign Minister, Somsavad Lengsavat, says by then his country will be out of the under-developing status and Lao people across the nation will enjoy peace, prosperity, and social stability.
Laos expects its 2005-2006 socio-economic development will result in an average growth rate of 7.5%, which will translate into a per capita income of $500. And if the growth rate is sustained, it expects per capita income will increase to $800 by 2010, and $1,500 by 2020.
Laos is currently one of the poorest of the 177 countries of the world.
Listen to our Laos Today report for more details.