Wall Street Journal cites Lao economy as fastest growing in the region

From: http://laovoices.com/headlines/page/5/

Laos made the headlines in the international and regional media this week as its economy looks set to become the fastest growing in Southeast Asia this year. The Wall Street Journal , a major economic and business publication, reported this week that Laos was Southeast Asia’s newest boom economy.

According to the Lao Ministry of Planning and Investment, Laos is targeting GDP growth of at least 8 percent annually from 2011 to 2015. The government acknowledges the need to boost the manufacturing sector after Laos becomes a member of WTO early next year. The country’s business climate has improved thanks to technical assistance from the international community including the World Bank, USA and Australia. Economists say that while Laos’ economy is small, its population is also small, which results in a higher per capita income compared to countries that have larger GDPs but more sizeable populations.