I encourage American businesses to look for opportunities to trade and invest in Laos, which has one of the fastest-growing economies in the world, averaging nearly 8% annual GDP growth over the last decade.  Laos committed to economic reform almost three decades ago, and since that time has made tremendous progress in improving the business environment.  The international community recognized that the country is on the path towards a fully-functioning market economy by approving its accession to the World Trade Organization in 2013.  Its integration into the ASEAN Economic Community in 2015 and its chairmanship of ASEAN in 2016 should provide impetus for further reforms.

Although much progress has been made, businesses continue to face obstacles, including human resources constraints and shortcomings in the rule of law.  However, we are actively supporting the Lao government’s efforts to address these issues.  International trade and investment are steadily growing, business-friendly regulatory reforms continue, and the potential for business success has never been better.  Please contact our economic and commercial officers to learn more about the possibilities of doing business here.

Regards,

Daniel A. Clune