The International Monetary Fund (IMF) predicted that Laos’s economy will grow by 4% this year and in 2024, thanks to neighbouring countries’ reopening of borders and removal of travel restrictions.
A market in Vientiane capital (Photo: seethinkexplore)
Vientiane (VNA) - TheInternational Monetary Fund (IMF) predicted that Laos’s economy will grow by 4%this year and in 2024, thanks to neighbouring countries’ reopening of bordersand removal of travel restrictions.
In its April World Economic Outlook, the IMF said thatdespite worldwide economic uncertainty, Laos is likely to see economic growthas its main trading partners, including China, have reopened their borders.
The reopening and growth of its economy will likely generate positivespillovers, with even greater spillovers for countries with stronger tradelinks and reliance on Chinese tourism, the report said.
The IMF has foreseen a higher economic growthprospect for emerging markets in developing Asia compared to more advancedeconomies, and the global economy as a whole is expected to see slower growthas well.
Earlier, the Lao Statistics Bureau also reported that thecountry's annual inflation rate decreased slightly from 41.3% in February to41% in March. This is the first time that the inflation rate in Laos has gonedown after more than a year of continuous increase./.
Laos’ economy is expected to grow moderately this year and next year thanks to the recovery in services and private sector investments as pandemic restrictions are eased throughout the region, according to a new Asian Development Bank (ADB) report.
The first international cross-border passenger train services between Laos and China officially began on April 13, with one train per day in each direction making the border crossing.
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In the today context of socio-economic development and growth, the professionalism of Vietnam’s revolutionary journalists continues to rise, guided by exemplary mastery of new information technologies and the modernisation of their founding principles to preserve the enduring values of revolutionary journalism.
Thai Permanent Secretary of the Ministry of Commerce Vuttikrai Leewiraphan Thailand's formal proposal will be substantial enough for the US to consider further detailed negotiations. He hoped for a tariff rate not exceeding 10% and suggested that the US might extend the negotiation period if an agreement is not reached by the July 8 deadline.
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The lab focuses on four key thematic areas: energy transition and green innovation, sustainable agriculture, circular economy and sustainable cities, and nature-based solutions and biodiversity.
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The forum featured two in-depth discussion sessions, engaging representatives from governments, think tanks, and businesses from both ASEAN and China, on how to forge closer ties for a common future.
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PM Anwar Ibrahim affirmed the determination of Malaysia, as ASEAN Chair for 2025, to utilise all viable regional mechanisms of the bloc and work with partners to de-escalate violence and restore a peace process led by Myanmar.
A market in Vientiane capital (Photo: seethinkexplore) 
