Vietnamese |  English |  中文 |  Báo In
Hotline: 0274.3833470
Hot:  Dau Tieng’s voluntary blood donation campaign surpasses the set target -  Binh Duong always wants to promote community -  Offering gifts, scholarships to disadvantaged people and students -  Experiencing Japanese life in Binh Duong -  BIS pledges support for Vietnam in banking infrastructure development, digital transformation -  Dau Tieng mobilizes many goods to support needy people -  Tax sector collects and pays nearly VND30 trillion for State budget -  Whole province is home to over 255 hectares in aquaculture area -  384,582 Trade Union members admitted at all levels -  PM meets US Treasury Secretary, leaders of economic groups - 
Search 
  RSS

Lao economy forecast to maintain growth

Update: 21-05-2023 | 09:53:48

Lao researchers are optimistic about the growth of the Lao economy, which is projected to expand by 4.5 % this year amid global economic challenges.

Lao economy forecast to maintain growth

According to the latest report from the Macro-economic Research Institute of the Lao Academy of Social and Economic Sciences (LASES), the economic growth will be driven by the services sector in association with the growth of the tourism and processing industries and agricultural production for export.

The agricultural sector is set to see an increase of 3.5% this year following an injection of funds for boosting productivity. Meanwhile, the industrial sector is hoped to see an increase of 4.6% from export related to processing industries in special economic zones.

The construction sector is also set to see growth, although financial hardships faced by the government and reducing capital inflows may affect its growth.

According to Vice President of the LASES, Dr Kikeo Chanthaboury, the launch of the cross border Laos-China railway has contributed to significantly bolstering regional trade and people-to-people exchanges.

Dr Kikeo said the Laos-China railway provides an opportunity to Laos to boost its export, tourism and logistics sectors.

However, there are also pressing challenges facing Laos, such as soaring inflation, high public debt, depreciation of the currency and Lao workers seeking better pay abroad. These challenges are made worse by the problem with regulating the local currency, which directly impacts the cost of goods.

Despite these challenges, the reopening of China’s market with 1.3 billion consumers is beneficial to Laos. This year alone, more than 3 million tonnes of agricultural products were exported to China, Thailand and Vietnam./.

VNA

Share
Tags
Lao economy

HIGHLIGHTS

MOST READ

 
Array
(
    [0] => Array
        (
            [news_lang] => en
            [news_id] => 306027
            [news_title] => TikTok granted e-commerce business licence in Indonesia
            [newcate_code1] => world
            [newcate_code2] => 
            [news_publicdate] => 2023-09-23 16:56:48
            [news_type] => 0
            [news_createdate] => 2023-09-23 16:48:32
            [news_picture] => 1695462512.jpg
        )

    [1] => Array
        (
            [news_lang] => en
            [news_id] => 306026
            [news_title] => Philippine issues health warning as volcano brings smog to capital, nearby provinces
            [newcate_code1] => world
            [newcate_code2] => 
            [news_publicdate] => 2023-09-23 16:56:48
            [news_type] => 0
            [news_createdate] => 2023-09-23 16:47:16
            [news_picture] => 1695462436.jpg
        )

    [2] => Array
        (
            [news_lang] => en
            [news_id] => 305939
            [news_title] => Workshop looks for best practices of digital transformation in ASEAN media
            [newcate_code1] => world
            [newcate_code2] => 
            [news_publicdate] => 2023-09-22 15:53:27
            [news_type] => 0
            [news_createdate] => 2023-09-22 14:26:46
            [news_picture] => 1695367606.jpg
        )

    [3] => Array
        (
            [news_lang] => en
            [news_id] => 305707
            [news_title] => ASEAN, ASEAN+3 Information Ministers to gather in Da Nang
            [newcate_code1] => world
            [newcate_code2] => 
            [news_publicdate] => 2023-09-19 13:41:17
            [news_type] => 0
            [news_createdate] => 2023-09-19 12:59:13
            [news_picture] => 1695103153.jpg
        )

    [4] => Array
        (
            [news_lang] => en
            [news_id] => 305559
            [news_title] => Indonesia reports massive rise in rice imports to replenish stockpiles
            [newcate_code1] => world
            [newcate_code2] => 
            [news_publicdate] => 2023-09-16 16:41:53
            [news_type] => 0
            [news_createdate] => 2023-09-16 16:33:38
            [news_picture] => 1694856818.jpg
        )

    [5] => Array
        (
            [news_lang] => en
            [news_id] => 305457
            [news_title] => Cambodia hosts first multilateral operational training exercise on mine clearance
            [newcate_code1] => world
            [newcate_code2] => 
            [news_publicdate] => 2023-09-15 11:32:15
            [news_type] => 0
            [news_createdate] => 2023-09-15 11:08:28
            [news_picture] => 1694750908.jpg
        )

    [6] => Array
        (
            [news_lang] => en
            [news_id] => 305349
            [news_title] => Indonesia arrests 39 people linked to regional drug syndicate
            [newcate_code1] => world
            [newcate_code2] => 
            [news_publicdate] => 2023-09-14 09:19:50
            [news_type] => 0
            [news_createdate] => 2023-09-14 09:10:24
            [news_picture] => 1694657424.jpeg
        )

    [7] => Array
        (
            [news_lang] => en
            [news_id] => 305303
            [news_title] => OPEC+ cuts to tighten oil market sharply in fourth quarter, says IEA
            [newcate_code1] => world
            [newcate_code2] => 
            [news_publicdate] => 2023-09-13 16:56:41
            [news_type] => 0
            [news_createdate] => 2023-09-13 16:51:30
            [news_picture] => 1694598690.jpg
        )

)

Array
(
    [0] => Array
        (
            [news_lang] => en
            [news_id] => 296805
            [news_title] => Conference highlights challenges, prospects for ASEAN integration process
            [newcate_code1] => world
            [newcate_code2] => 
            [news_publicdate] => 2023-05-19 16:52:04
            [news_createdate] => 2023-05-19 14:40:18
            [news_picture] => 1684482018.jpg
        )

    [1] => Array
        (
            [news_lang] => en
            [news_id] => 296696
            [news_title] => Vietnam attends review conference on Chemical Weapons Convention
            [newcate_code1] => world
            [newcate_code2] => all
            [news_publicdate] => 2023-05-18 11:28:20
            [news_createdate] => 2023-05-18 11:16:07
            [news_picture] => 1684384023.jpg
        )

    [2] => Array
        (
            [news_lang] => en
            [news_id] => 296618
            [news_title] => De-escalation of tensions in Gaza
            [newcate_code1] => world
            [newcate_code2] => 
            [news_publicdate] => 2023-05-17 15:05:28
            [news_createdate] => 2023-05-17 14:58:30
            [news_picture] => 1684310310.jpg
        )

)
Quay lên trên