Recovery in services, investment to boost growth in Laos: ADB

Transportation of goods between Laos and its neighbours are expected to grow. - VT

VIENTIANE (Vientiane Times/Asia News Network): The recovery in services and private sector investments is expected to drive economic growth in Laos this year and next year as pandemic restrictions are eased throughout the region, according to a new Asian Development Bank (ADB) report.

ADB’s flagship publication “Asian Development Outlook” for April 2023 forecasts gross domestic product (GDP) growth in Laos this year and next at 4 percent, rising from the 2.5 percent reported by ADB last year.