The economic development achievements after 25 years of innovation and the Vietnam - Laos prospect of cooperation and investment

Abstract

Through 35 years of construction and development under the people democratic regime, particularly after 25 years of innovation, Laos has fast changes. Economy developes strongly and constantly. Average GDP growth speed from 2006 to 2010 was 7.9% per annum, and reached 7,8% in 2011; industry, tourism and trade has well developed; macro economy is stable, the infrastructure has expanded. The poor households proportion reduced from 27.7% in 2003 to 20.4% in 2010. Foreign direct invest grows rapidly. Vietnam - Laos trade - investment cooperation and exchange developed dramatically, and has high potential. Currently Vietnam is one of the top three countries among 53 countries and territories invest in Laos.