Despite the
fact that, only nearly 4.01 percent of the country is arable land, Laos is a land of
agriculture, mineral resources and amazing landscapes with Buddhist culture and
colonial architecture as main attractions for tourists.
The Laos is a dynamic country constituting a market of +6 million consumers
with a growing middle class capable to consume.
Belonging to
the Southeast Asia region, the Lao economy depends heavily on investment and trade with its
neighbours, Thailand, Vietnam, and, especially in the north, China.
In 2012, the government initiated the creation of the Laos Trade Portal, a website
incorporating all information traders need to import and export goods into the
country.
In 2016, China was the biggest foreign investor in Laos' economy, having invested
in US$5.395 billion since 1989, according to Laos Ministry of Planning and
Investment 1989–2014 report. Thailand
(invested US$4.489 billion) and Vietnam
(invested US$3.108 billion) are the second and third largest investors
respectively.
Rice
dominates agriculture, with about 80 percent of the
arable land area used for growing rice.
Tourism is the fastest-growing industry in the country. Laos is rich in mineral
resources and imports petroleum and gas.
Metallurgy
is an important industry, and the government hopes to
attract foreign investment to develop the substantial deposits of coal, gold, bauxite, tin, copper, and
other valuable metals.
The
country's plentiful water resources and mountainous terrain enable it to produce and export large quantities of hydroelectric energy.
The
country's most widely recognised product may well be
Beerlao which is exported to many developed countries around the world such as the
US, British, Germany, Japan, South Korea including neighbours Cambodia and
Vietnam. It is produced by the Lao Brewery Company.
Comments
Post a Comment