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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
Sarah Chambers
Manager, Cambodia, Thailand, Myanmar, and Laos Affairs
schambers@usasean.org |
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Please contact Sarah Chambers at schambers@usasean.org for upcoming Laos event in the works.
more upcoming events
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| Viet Nam, Laos finish border talks VNS, Apr 25 | EVN approved of investment in hydro electric power plants in Laos NhanDan, Apr 25 | Case of alleged Laos coup planners makes brief return to court Sacbee, Apr 24 | Laos opens secret caves to tourists CCTV, Apr 23 | Laos reveals "hidden city" to adventurous visitors Reuters, Apr 21 | Savimex Corp. cuts ribbon for furniture plant in Laos ThanhNien, Apr 17 | Laos to see higher inflation rate this year Xinhua, Apr 17 | UPDATE 1-Oxiana Q1 Laos copper output hits record Reuters, Apr 15 | Laos highway opening completes all-weather Southeast Asia to China land route TCP, April 11 | Laos studies VN’s experiences in population work Vietnamnet, April 11 | All-women team clears wartime ordnance in Laos Reuters, April 11 | Laos faces thorny land issues in Asia's orchard Reuters, April 10 | Vital Lessons from Nam Theun 2 World Bank, April 8 | World Bank Provides US$15M To Improve Health in Laos Bernama, April 7 | Isolated Laos plans to build railroad to the world Baltimore Sun, April 7 | China land deal rankles Laos capital Guardian, April 7 | 'Chinatown' stirs unusual rumblings about a small neighbour's independence Canadian Press, April 6 | Laos: Religious Persecution Puts Regime on Watch List Media Newswire, April 6 | Laos: Religious Persecution Puts Regime on Watch List MediaNewswire, April 4 | Pastors Arrested by Police in Laos Amid Wider Crackdown, Christians say Bosnewslife, April 2 | Wen Jiabao Holds Talks with Lao Prime Minister Bouasone FMPRC, March 30 | Mass tourism swamps Asia's once unique, remote places USA Today, March 27 | Agreement on preferential import tax rates with Laos signed Trading Markets, March 21 | Ambassador to Laos says U.S. working to find missing St. Paul men Jamestown Sun, March 19 | PM visits Laos to discuss economics Bangkok Post, Feb 29 | Thai PM to visit Laos on first official visit Mcot English News, Feb 14 | US probes claims Hmong facing persecution in Laos AFP, Feb 5 | Nam Ngum Hydropower Cascade Threatens Poverty Reduction in Laos Asia Sentinel, Jan 22 | Lao garment exports to U.S. to surge this year ChinaView, Jan 21 | Thailand should release Hmong refugees, UN says International Herald Tribune, Jan 15 | Vietnam oil firm, Laos team up UPI, Jan 10 | Laggard Laos turns the economic corner Asia Times, Jan 10 |
more headline news
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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
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H.E. Phiane Pilakone
Ambassador of the Lao People's Democratic Republic to the United States
The Honorable Ravic Huso
United States Ambassador to the Lao People's Democratic Republic
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©2008. US-ASEAN Business Council | 1101 17th St, NW Suite 411, Washington, DC 20036
p. 202.289.1911 | f. 202. 289.0519 | e. mail@usasean.org |
