20 hours ago
Laos makes global call for stronger domestic resource mobilisation
Deputy Prime Minister Saleumxay Kommasith addresses the 4th International Conference on Financing for Development in Seville, Spain.
VIENTIANE: The government has called for greater efforts to strengthen domestic resource mobilisation as a key step towards achieving sustainable development and reducing reliance on foreign aid.
Speaking at the 4th International Conference on Financing for Development in Seville, Spain, taking place from June 30 to July 3, Deputy Prime Minister Saleumxay Kommasith said Laos is reforming its public finance system and increasing tax collection through digital technology, human resource development, and improved budget management.
The government has set an ambitious target to raise tax revenue to 20 percent of gross domestic product by 2030.
In the first six months of this year, tax collection rose by 4.3 percent and accounted for 11.7 percent of GDP, according to a report presented at the National Assembly's recent ordinary session.
During the conference, Saleumxay addressed a high-level roundtable meeting on domestic resource mobilisation and allocation.
He said that for least developed countries such as Laos, building effective tax systems is vital to meeting national development needs and reducing reliance on external loans and grants.
He urged development partners and the international community to provide greater financial and technical support, including help to strengthen human resources and international tax cooperation, to enhance domestic financing capacity.
The deputy prime minister also spoke during the conference's general debate, delivering remarks on behalf of Asean and Laos.
He expressed strong support for the adoption of the Seville Commitment, the final outcome document of the conference, which lays out shared goals to close financing gaps, tackle inequality, and drive progress towards the 2030 Sustainable Development Agenda.
Saleumxay reaffirmed Asean's priorities in building future-ready economies through inclusive participation and sustainability, upholding multilateral trade under World Trade Organisation rules, and advancing regional industrial development and energy connectivity.
He highlighted Laos' ongoing efforts to graduate from Least Developed Country status and pursue closer integration with the regional and global economy.
Laos is aligning its national strategies with international development goals, he said, and called for continued support from global partners to ensure long-term progress.
The conference brings together leaders and representatives from 179 countries. Previous meetings took place in Mexico in 2002, Qatar in 2008, and Ethiopia in 2015.
The opening ceremony on June 30 was graced by His Majesty King Felipe VI of Spain, who delivered an address.
The meeting then continued under the co-chairmanship of Spain's Prime Minister, Pedro Sanchez, and United Nations Secretary-General Antonio Guterres.
The Seville Commitment was officially adopted and will serve as a roadmap for future international cooperation in financing sustainable development. - Vientiane Times/ANN
