Lao PDR - Investment Climate Assessment : Policies to Promote Growth in the Non-Resource Sectors
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World Bank
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The second Lao PDR investment climate
assessment identifies the key constraints of the
country's non-resource sector firms. This Assessment
summarizes the results of a national survey conducted in
late-2009 and draws on extensive interviews with
policymakers and practitioners. Survey results reveal the
nature of constraints that various non-resource sector firms
in Lao PDR currently face. The results provide an analysis
of the firms' performance and productivity. Supporting
an international exchange of knowledge, this survey's
results have been compared to numerous studies conducted by
the World Bank in over 100 developing countries, which share
similar methodological approaches. Due to rapid economic
growth in recent years, Lao PDR has emerged from low income
to middle-income country status in 2011, according to the
World Bank. The development of the non-resource sector is
essential to ensure sustainable and inclusive growth in Lao
PDR. Non-resource sectors are more stable than resource
sectors, and provide more long-term employment. The non
resource sector is expected to contribute more than half of
Lao PDR's real Gross Domestic Product (GDP) growth and
75 percent of the GDP in the medium-term. To achieve these
results, policies in Lao PDR should focus on creating a
positive enabling environment and that supports the
development of the non-resource sectors. Based on Lao
PDR's per capita income, this assessment's survey
analysis demonstrates that labor productivity is lower than
in neighboring countries and lower than in countries with a
similar level of income. Labor productivity in Lao PDR is
slightly lower than in Cambodia and Vietnam and
significantly lags behind the leading countries in the
region such as China, Malaysia and Thailand. Even though
labor costs are low in Lao PDR, data suggests that national
unit labor costs are roughly comparable to many comparator
countries, but are higher than in China and Thailand.
Palabras clave
ACCOUNTING, ACCOUNTING STANDARD, ACCOUNTING STANDARDS, ADB, ADMINISTRATIVE PROCEDURES, AGRICULTURE, AUDITING, AVERAGE PRODUCTIVITY, BANK ACCOUNT, BANK ACCOUNTS, BANK CREDIT, BANK FINANCING, BANK POLICIES, BANKING SECTOR, BANKING SERVICES, BINDING CONSTRAINTS, BOOK VALUE, BUSINESS DEVELOPMENT, BUSINESS ENVIRONMENT, BUSINESS ENVIRONMENTS, BUSINESS EXPANSION, BUSINESS LICENSES, CAPITAL GAIN, CASH PAYMENT, COLLECTION PROCESS, COMMODITY, COMMODITY PRICE, COMMODITY PRICES, COMPETITIVENESS, CONSUMERS, COST OF CAPITAL, COUNTRY DUMMIES, CREDIT ASSOCIATION, CREDIT EXPANSION, CREDIT GROWTH, CREDIT INFORMATION, CREDIT INFORMATION REGISTRY, CURRENCY, DEVELOPING COUNTRIES, DEVELOPMENT ASSISTANCE, DEVELOPMENT BANK, DOLLAR VALUE, DOMESTIC ECONOMY, DOMESTIC INVESTORS, DOMESTIC MARKET, DOMESTIC MARKETS, DONOR AGENCIES, ECONOMETRIC ANALYSIS, ECONOMIC ACTIVITY, ECONOMIC DEVELOPMENT, ECONOMIC GROWTH, ECONOMIC IMPACT, ECONOMIC PERFORMANCE, ECONOMICS, EMPLOYMENT, ENABLING ENVIRONMENT, ENVIRONMENTAL, ENVIRONMENTS, EXPLOITATION, EXPORT GROWTH, EXPORT MARKET, EXPORT MARKETS, EXPORTER, EXPORTERS, EXPORTS, EXPOSURE, EXTERNAL FINANCING, FARMS, FINANCE CORPORATION, FINANCIAL CRISIS, FINANCIAL SECTOR, FINANCIAL SUPPORT, FINANCIAL SYSTEM, FINANCIAL SYSTEMS, FINANCING SOURCES, FIRM GROWTH, FIRM PERFORMANCE, FISCAL POLICY, FORECASTS, FOREIGN DIRECT INVESTMENT, FOREIGN EXCHANGE, FOREIGN INVESTMENT, FOREIGN INVESTORS, FREE TRADE, FUTURE GROWTH, GDP, GDP PER CAPITA, GENERALIZED SYSTEM OF PREFERENCES, GOVERNMENT POLICY, GROSS DOMESTIC PRODUCT, GROWTH RATES, HUMAN RESOURCE, INCOME LEVELS, INCOMES, INFRASTRUCTURE INVESTMENTS, INTERMEDIATE INPUTS, INTERNATIONAL BANK, INTERNATIONAL FINANCE, INTERNATIONAL MARKET, INTERNATIONAL MARKETS, INTERNATIONAL TRADE, INVESTMENT ACTIVITIES, INVESTMENT CLIMATE, INVESTMENT PROJECTS, INVESTMENT PURPOSES, JURISDICTION, LABOR COSTS, LABOR FORCE, LABOR MARKETS, LABOR PRODUCTIVITY, LACK OF TRANSPARENCY, LAWS, LEGISLATION, LENDERS, LEVEL PLAYING FIELD, LIABILITY, LINE OF CREDIT, LOGGING