Overall investment across Laos increased above the set plan by 24.2 percent in 2016, driven by the private sector and the greater availability of bank credit, according to the government’s latest report.
More Korean companies are interested in investment in automobile parts, construction equipment and cosmetics in Laos, as more economic growth is expected this year.
The government has committed to pump more resources into 64 development focus zones across the country to catalyse rural development and poverty reduction efforts.
Lao advertising agencies are continuing to seek cooperating foreign counterparts to improve their advertising and meet international standards for in and out-of-home advertising, according to sector officials.
The government says it is expecting to collect budget revenue of around 96.3 percent of its target and will try to manage expenditure on the approved plan.
The inflation rate in Laos for the first quarter of this year averaged at 1.89 percent, rising from a 1.09 percent average recorded during the same period last year.
The export of diamonds has largely contributed to the bulk of trade between Laos and Switzerland with around US$60 million out of almost US$77 million in exports over the past 4 years, officials have reported.
Tour companies are expecting an increase in tourist bookings this year after seeing bookings spring up during the first three months of 2017.
Trade value between Laos and Brunei is relatively low as compared to other Asean countries despite the two governments boosting economic, trade and investment cooperation.
The Government of Vietnam has asked its leading bank to help support an expansion of Vietnamese investments abroad and particularly in Laos after its outbound investment to this country decreased last year.