Laos economy is set for boom years ahead

International Business Times
1 July, 2013

Laos, the third poorest country in Southeast Asia after Myanmar and Cambodia, is intent on catching up with its wealthier neighbors as infrastructure develops in the region, facilitating trade with Thailand and China, attracting foreign investment and boosting the country’s tourism industry.

For years, Laos, a landlocked country with a population of 7 million, lagged behind in economic development as its export-driven neighbors benefited from coastlines and their harbors flourished.

That may be changing, now that the Southeast Asian economies are moving toward a unified trading entity, and as China develops roads and rail links into the region, according to Bangkok Post, a Thai newspaper.

In coming years, Laos is likely to find itself occupying the pivot point between these two large economies – China with its 1.3 billion population and $7 trillion economy, and Southeast Asia with its 600 million people and $2 trillion GDP.

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