Lao PDR

Photo: UNDP/Lao PDR

At the first roundtable meeting between the Investment Promotion Department (IPD) and the Department of Environmental and Social Impact Assessments (DESIA) it was agreed that there should be increased coordination and information sharing in investment management. The UNDP / UNEP Poverty-Environment Initiative (PEI) is working to provide a forum for the two departments to have more regular exchanges and discussions on relevant issues.

The review and investment approval mechanisms within IPD and DESIA are closely linked and play a key role in ensuring that the country attracts and selects quality investments.The criteria for quality investments are that they generate maximum benefits for national and local economies and have adequate social and environmental safeguards in place to minimize their impact. In addition, both departments also play a critical role in ensuring that investments comply with their contractual commitments and legislation.

The Poverty Environment Initiative (PEI) aims to integrate environmental issues into both national level planning and poverty reduction efforts. In Lao PDR Its work with IPD includes strengthening the ability of the department to promote, review and monitor private investments. In addition, PEI supports DESIA to ensure that environmental and social impact assessment reports are sufficiently evaluated. This is critical so that the investment review process can make the best informed decision.

The roundtable was chaired by Houmpheng Souralay, Director General of IPD and Bounkham Vorachit, Director General, DESIA.