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Laos Economic Information
(kindly provided by the  Embassy of Peoples Democratic Republic of Laos to the United States of America)


TRENDS FOR THE YEAR 2000 &
SETTING THE PACE TOWARDS THE 21ST CENTURY

 
TRENDS FOR THE YEAR 2000

As the consequence of the increasing amount of foreign investment since Laos opened its doors in 1988, the government set a goal to increase the nation’s economic growth gradually.

Focus has been made on complete infrastructures development to support increasing foreign investment. The government has a long-term plan to promote the level of increase to at least 15% of GDP by the year 2000.

The inflation rate is expected to reach 10% until the end of AD 2000 since the government realizes that the country still has to rely heavily on the import of capital goods for national development, which will continue to expand.
 

SUMMARY

Although the Lao economy has made progress, it has naturally had to overcome challenges to its stated policy of national development. At every step, the government has shown its determination to overcome all obstacles in a forthright and sincere manner. With so many positive indications it is becoming clearer that Laos will indeed achieve better and better rates of economic growth. Having learned from the example of other Asian economies, it will proceed at a gradual and disciplined pace so as to ensure future stability and steady economic expansion.

SETTING THE PACE TOWARDS THE 21ST CENTURY

At present, private sector owned and operated educational institutions exist in Laos to teach specific subjects complementary to professional competence. The three subjects offered by such institutions are English, Business Administration and Computers. Such institutions provide the compete in today’s specialist knowledge required in a modern developing country subjects that the nation’s workforce will require if it is to business world.

Laos also receives scholastic assistance from Vietnam, China, Thailand, Australia, Japan etc… for the human resources development.

In addition, goals and policy guidelines for the country’s readiness for the 21st century have already been set up with a long-term economic development plan (1993-2000). The essence of the plan is:


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For more information on doing business in Laos, the Embassy of Peoples Democratic Republic of Laos to the United States of America has kindly provided extensive information in the following Guide to Doing Business in Laos.  This can be viewed online or printed to assist you in your research and business efforts.

Copyright, 2007 Runckel & Associates
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