Vientiane, Nov 14 : The Lao government has reaffirmed its commitment to addressing major economic and financial challenges affecting people from all walks of life, underscoring these efforts as a top national priority.

In his address at the 10th ordinary session of the Lao National Assembly's ninth legislature on Thursday, Lao Prime Minister Sonexay Siphandone reaffirmed the government's commitment to addressing key economic challenges, including inflation, exchange rates, electricity prices and rising commodity costs, which continue to impact people's livelihoods.

The government considers inflation, exchange rates, commodity prices and debt settlement as top priorities, Xinhua News Agency reported, citing the Vientiane Mai newspaper.

Sonexay noted that high inflation and rising prices have placed significant pressure on households, particularly salaried workers in major cities. In response, the government has rolled out a series of measures aimed at curbing inflation.

Looking ahead, the government plans to boost domestic production to reduce imports and stem foreign currency outflows. Additional measures will be introduced to increase foreign currency reserves and ease pressure on both the exchange rate and inflation.

Authorities will intensify oversight of import-export businesses and foreign investors to ensure transactions and capital flows are routed through the banking system. Price management will be tightened to curb unreasonable mark-ups by middlemen, and electricity rates for low-income households will be reviewed to ease living costs.

The government will work to strengthen revenue collection through measures such as modernising systems and expanding the tax base. It also plans to resolve outstanding debts from state investment projects and intensify crackdowns on illegal vehicles, illegal mining, and the unlawful exploitation of mineral resources.

Meanwhile, Laos' Ministry of Agriculture and Forestry has outlined measures to boost agricultural production and processing, aiming to increase competitiveness and add value to Laos' products.

In his address at the 10th ordinary session on Thursday, Lao Minister of Agriculture and Forestry Linkham Douangsavanh reported steady growth in agricultural and forestry production in recent years, with several large-scale projects helping reduce imports and increase exports.

From 2021 to 2025, the export value of agricultural and forestry products averaged 1.57 billion US dollars per year. In the first 10 months of 2025, exports reached $1.54 billion, surpassing the Lao National Assembly's annual target of $1.5 billion.

Despite progress, Douangsavanh acknowledged challenges including limited mechanisation, low use of modern technology, inadequate irrigation, high production costs, weak supply chains, and underdeveloped infrastructure.

To tackle these challenges, the ministry has outlined several key measures, including developing policies to lower production costs and promote the use of advanced technology and innovation, and implementing detailed national strategies for crops, livestock, and aquaculture.

The ministry also plans to improve access to capital, market information, and essential inputs such as seeds, fertilisers, veterinary medicines, and machinery. In addition, it aims to promote modern, sustainable farming, while supporting investment in logistics, processing plants, storage facilities, and laboratories for pest and residue analysis.

/IANS