Despite high economic growth, job creation in Laos remains limited

Laos needs to attract more large manufacturing and global value chain firms to create jobs for local people. - VT

VIENTIANE (Vientiane Times/Asia News Network): Laos has recorded one of the highest rates of economic growth in South-East Asia over the past two decades, but few jobs have been created.

According to the World Bank’s latest economic update, Laos’ GDP growth averaged 7.5 per cent a year between 2000 and 2018, with trade growing at an average rate of 17 per cent annually.