Laos’ economy to remain stable growth for next few years
Vientiane (VNA) – Laos’ economic growth is expected to remain stable over the next few years despite the global financial crisis, said Lao Deputy Minister of Planning and Investment Bounthavy Sisouphanthong.
The MPI official made this forecast on November 18 while undertaking the mid-term review of the sixth national socio-economic development plan for the period 2006 to 2010.
The forecast was based on the robust growth of Laos’ hydropower and mining sectors, the Deputy Minister said.
According to the MPI’s report, Laos registered an average annual growth rate of 6.5 percent during 1990 and 2005. In 2006 and 2007, the growth rate reached 7.9 and 8 percent, respectively.
Deputy Minister Bounthavy said he believed that economic growth would remain strong at the end of the sixth five-year plan.-
Good question. Duputy Minister Bounthavy seems to think Laos economy will not being effect by the world economy. If you take a look at the Asian Stock Market lately, it is been dropping sharply. Eventually, Laos will feels the effect soon.
