Laos Profile:

Laos, officially the Lao People’s Democratic Republic, commonly referred to by its colloquial name of Muang Lao, is a landlocked country in the heart of the Indochinese peninsula of Mainland Southeast Asia.
Laos is a member of the Asia-Pacific Trade Agreement (APTA), Association of Southeast Asian Nations (ASEAN), East Asia Summit, La Francophonie and the World Trade Organisation (WTO).
In The Economist’s Democracy Index 2016 Laos was classified as an “authoritarian regime”, ranking lowest of the nine ASEAN nations included in the study.
Laos has ongoing problems with the business environment, including onerous registration requirements, a gap between legislation and implementation, and unclear or conflicting regulations.
Laos is in the process of implementing a value-added tax system. The government appears committed to raising the country’s profile among foreign investors and has developed special economic zones replete with generous tax incentives, but a limited labour pool, a small domestic market, and corruption remain impediments to investment.

Laos Economy:

Laos has been referred to as one of East Asia and Pacific’s fastest growing economies by the World Bank, with annual GDP growth averaging 7% for the past decade.
The Lao economy depends heavily on investment and trade with its neighbours, Thailand, Vietnam, and, especially in the north, China.
Economic growth averaged more than 6% per year in the period 1988-2008, and Laos’ growth has more recently been amongst the fastest in Asia, averaging nearly 8% per year for most of the last decade. However, growth has declined over the past year and is expected to be about 6.8% in 2017, according to the IMF.
Laos remains a country with an underdeveloped infrastructure, particularly in rural areas. It has a basic, but improving, road system, and limited external and internal land-line telecommunications.
The country has faced a persistent current account deficit, falling foreign currency reserves, and growing public debt, as slow recovery of the global economy, especially that of China, has driven down the prices of its mineral exports

Laos Facts:

Population: 7.1 million
Capital: Vientiane
Largest city: Vientiane
Area: 236,800 sq km
Major language: Lao (official), French, English, various ethnic languages
Major religion: Buddhist 64.7%, Christian 1.7%, none 31.4%
Life expectancy: 62.6 years (Male), 66.7 years (Female)
Monetary unit: 1 Kip (LAK) = 100 Ats
Main exports: Wood products, coffee, electricity, tin, copper, gold, cassava
GNI per Capita: $5,930

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