Lao economy seen growing strongly

Laos’ economy is projected to expand at around 7 percent annually from 2017 to 2019, according to the latest edition of the World Bank’s Lao Economic Monitor released on Wednesday. The report said the country’s growth was driven by a pipeline of power projects and a recovery in the agriculture and manufacturing sectors, as well as new opportunities prompted by closer regional integration. According to the report, released in the capital Vientiane, inflationary pressures remain low, while credit growth has stabilized over the past year. Expansion of the power sector is expected to increase power exports, while nonresource sectors such as tourism, trade and financial services are expected to benefit from closer regional integration and improved connectivity.