In 1975, the Communist Pathet Lao took control of the government, ending a six-century-old monarchy. Initial closer ties to Vietnam and socialization were replaced with a gradual return to private enterprise, an easing of foreign investment laws, and the admission into ASEAN in 1997.

After eleven years of socialist policies, the Government of Laos (GOL) implemented the New Economic Mechanism (NEM) in 1986 to expedite the country's transition to a market economy. Under NEM reforms from the late 1980's to the Mid-1990's, Trade was liberalized; price controls lifted; most state-owned industries privatized; commercial banks established; and a comparatively open foreign investment law written. During the same period, the exchange rate stabilized, inflation remained relatively manageable, and GDP (Gross Domestic Product) growth rates averaged 6.5 percent.

from CIA World Fact Book and various sources

For more information on our Laos affairs, please contact:
Frances Zwenig
Counselor covering Cambodia, Thailand, Myanmar, Laos, and Vietnam
fzwenig@usasean.org or

Mike Orgill
Manager, Cambodia, Laos, and Vietnam Affairs
morgill@usasean.org

Please contact Frances Zwenig at fzwenig@usasean.org for upcoming Laos event in the works.

more upcoming events

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more headline news

GDP: $12.61 billion (2007 est.)
GDP Growth Rate: 7% (2007 est.)
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Export-Import
U.S. export to Laos: $ 13.4 million (2007)
U.S. import from Laos: $ 20 million (2007)
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Currency Rate