Laos Economic Structure and Economic Development Policy

Abstract

This paper critically explores the Laos' economic structure and economic development policy. The paper highlights that until 1987, Laos was a closed economy defined by district production. After 1987, the economy parades to the external world for FDI and begins to record the economic process. The paper more shows that Laos economic structure is basically mining in Copper, Tin, Gold, Gypsum, Timber; electrical generation; Agricultural process. Trade merchandise grow at 8.92% compared to the previous years of 3.35% growth of electricity and power offer, 2.75% growth of producing, 2.35% growth of construction and 0.68% growth of mining and production. The recently revised economic development policy favors FDI and Laos can before long gain economic momentum.