The four-day workshop held in Vientiane, Laos in February was intended to assist the government of Laos establish economic policies to transform the nation into a market economy. At the four-day workshop ending in Feb. 4, participants including NOSPA professors and officials from the Ministry of Finance of Laos shared the view on the success case of Korea’s economic development. Other key issues include policies to induce foreign direct investment, policy models to transform the nation into a market economy, and the training of economic policy-makers.
The Laos NOSPA Capacity Building Workshop was hosted by KDI School in collaboration with the Ministry of Planning and Budget of Korea and the World Bank. Based on the know-how obtained from the study of Korea’s economic development and the government-led financial reform, the KDI School has assisted developing nations with the establishment of mid and long-term financial management and economic development policies. The policy consultation projects have helped KDI School bolster its competence as an economic policy consultation institute for developing countries and make strides to expand globally. Korea is a benchmark case for many developing economies including Laos.
This workshop was intended to establish close cooperative relations between the two countries. It also helped economic policymakers of Laos to better implement economic development in national vision establishment, financial management, and human resources development based on Korea’s economic development and mid and long-term financial management know-how. As part of efforts to support the national development project of Loas, the KDI School donated 50 used personal computers and 100 copies of Economic Development and Economic Policy in Korea to NOSPA during the workshop.