Lao PDR Investment Climate Assessment 2014 : Policy Uncertainty in the Midst of a Natural Resources Boom
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Washington, DC
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The World Bank undertakes periodic
Investment Climate Assessments in order to provide
policymakers with a better understanding of how the private
sector is performing and where the principal constraints to
increased private sector investment are to be found. These
assessments are informed by Enterprise Survey that follow a
standardized approach and are conducted with the objective
of providing detailed information on firm-level performance
and constraints. So far, Enterprise Surveys have been
conducted in more than 135 different countries and capturing
data from over 130,000 individual businesses. This is the
third Investment Climate Assessment carried out in Lao PDR,
and builds on findings from the previous assessments carried
out by the World Bank in 2007 and 2011, each of which was in
turn informed by an Enterprise Survey. This 2014 Investment
Climate Assessment (ICA) is based on an Enterprise Survey
undertaken across Loa PDR for the World Bank in late 2012.
The survey covered nearly 400 formal private firms across
six provinces, including small, medium-sized and large
firms. Half of the businesses surveyed were in manufacturing
and half in services. The World Bank Enterprise Surveys are
the only firm-level data collected in Lao PDR that use
stratified random sampling, and thus allow for results from
the sample to be considered statistically representative of
the entire Lao private sector. It is also the only
Enterprise Survey in the country that captures detailed firm
performance data on sales and cost of sales, from which
aggregate estimates of firm level profitability and
productivity can be computed. The economy of Lao PDR has
been growing rapidly based principally on the development of
natural resource based industries. The transformation of
natural wealth in terms of the country s mineral and water
resources has propelled high rates of investment and
economic expansion for more than a decade. Lao PDR has
become a middle income economy and the country has achieved
success in reducing poverty and delivering improved public
service the natural resource development process has also
created spillover effects, mostly notable via strong
expansion in the services and construction domestic private sectors.
Palabras clave
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