Sustaining Robust Growth, Mitigating Risks and Deepening Reforms : Lao PDR Economic Monitor, May 2012
With development soaring in construction, manufacturing, mining and services, Lao PDR's economic outlook in 2012 is positive. As the driving force behind the domestic economy, these sectors are anticipated to drive a projected growth of 8.3 percent by year-end. To begin, higher wholesale and tr...
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| Format: | Economic & Sector Work |
| Language: | en_US |
| Published: |
World Bank, Vientiane
2013
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| Subjects: | |
| Online Access: | http://hdl.handle.net/10986/13814 |
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okr-10986-13814 |
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| recordtype |
oai_dc |
| repository_type |
Digital Repository |
| institution_category |
Foreign Institution |
| institution |
Digital Repositories |
| building |
World Bank Open Knowledge Repository |
| collection |
World Bank |
| language |
en_US |
| topic |
accounting asset quality Auction balance of payment Balance of Payments bank access bank branches Bank Office bank supervision banking assets banking sector banking system Broad money budget deficit budgeting capacity building capacity enhancement Capital account capital adequacy capital markets capital requirements cash management central Bank check clearing collateral requirements commercial bank commercial banking Commercial Banks commodities commodity commodity price Commodity Prices Consumer goods Consumer Price Index corporate tax rates Credit Growth Credit Unions creditors current account deficit debt burden debt management Debt service deficits Deposit developing economies Development Bank direct investments Domestic credit domestic debt domestic economy Economic Development economic developments emerging market equity stakes exchange rate expenditure expenditures export competitiveness Exporters exposure external debt Finance Corporation financial crisis Financial Information financial infrastructure Financial Institutions financial markets Financial Sector FINANCIAL SECTOR DEVELOPMENT financial stability financial statements financial support financial system fiscal deficit Fiscal Policy foreign asset Foreign Assets foreign bank foreign currencies foreign currency Foreign Direct Investment foreign exchange foreign exchange markets foreign exchange reserves foreign investment foreign investments foreign investors futures futures markets global economy global market global output government bonds government expenditures government policy Government Revenues government spending Gross Domestic Product holding human resources income income tax inflation inflationary pressure Information System infrastructure development institutional capacity insurance insurance companies insurance industry insurance market insurance penetration insurance policies insurance premium Intellectual Property International Development International Finance international market international reserves international standards inventory investment activities investment climate investment projects investment spending issuance labor market legal framework lenders life insurance life insurance products liquidities liquidity local businesses local economies local government local infrastructure macroeconomic policy market capitalization market environment market infrastructure market share Micro-Finance Micro-Finance Institutions microfinance Minimum capital requirements Monetary Fund monetary policy Money Laundering National Treasury Non-Performing Loan Non-performing loans NPL Oil price output outstanding loans pawnshops Payment System portfolio portfolio investment price cap price movements price volatility private banks private credit private credits PRIVATE SECTOR DEVELOPMENT prudential regulations PUBLIC DEBT public debt management public debt stock Public Finance public finances public investment Public Offering Public Offerings purchasing power rapid expansion recurrent expenditure recurrent expenditures regulatory framework remote areas reserve reserves Retail investors returns revenue assignments risk management rule of law Securities Securities Exchange security market settlement settlement system settlement systems Short-term interest rate Stock Exchange stock market Stock market index stock trading Tax tax regime telecommunications term deposits Terrorism Trade balance trade deficit trading transparency treasury Treasury bill Treasury bill rate trust fund trust funds turnover Valuation value of collateral World Trade |
| spellingShingle |
accounting asset quality Auction balance of payment Balance of Payments bank access bank branches Bank Office bank supervision banking assets banking sector banking system Broad money budget deficit budgeting capacity building capacity enhancement Capital account capital adequacy capital markets capital requirements cash management central Bank check clearing collateral requirements commercial bank commercial banking Commercial Banks commodities commodity commodity price Commodity Prices Consumer goods Consumer Price Index corporate tax rates Credit Growth Credit Unions creditors current account deficit debt burden debt management Debt service deficits Deposit developing economies Development Bank direct investments Domestic credit domestic debt domestic economy Economic Development economic developments emerging market equity stakes exchange rate expenditure expenditures export competitiveness Exporters exposure external debt Finance Corporation financial crisis Financial Information financial infrastructure Financial Institutions financial markets Financial Sector FINANCIAL SECTOR DEVELOPMENT financial stability financial statements financial support financial system fiscal deficit Fiscal Policy foreign asset Foreign Assets foreign bank foreign currencies foreign currency Foreign Direct Investment foreign exchange foreign exchange markets foreign exchange reserves foreign investment foreign investments foreign investors futures futures markets global economy global market global output government bonds government expenditures government policy Government Revenues government spending Gross Domestic Product holding human resources income income tax inflation inflationary pressure Information System infrastructure development institutional capacity insurance insurance companies insurance industry insurance market insurance penetration insurance policies insurance premium Intellectual Property International Development International Finance international market international reserves international standards inventory investment activities investment climate investment projects investment spending issuance labor market legal framework lenders life insurance life insurance products liquidities liquidity local businesses local economies local government local infrastructure macroeconomic policy market capitalization market environment market infrastructure market share Micro-Finance Micro-Finance Institutions microfinance Minimum capital requirements Monetary Fund monetary policy Money Laundering National Treasury Non-Performing Loan Non-performing loans NPL Oil price output outstanding loans pawnshops Payment System portfolio portfolio investment price cap price movements price volatility private banks private credit private credits PRIVATE SECTOR DEVELOPMENT prudential regulations PUBLIC DEBT public debt management public debt stock Public Finance public finances public investment Public Offering Public Offerings purchasing power rapid expansion recurrent expenditure recurrent expenditures regulatory framework remote areas reserve reserves Retail investors returns revenue assignments risk management rule of law Securities Securities Exchange security market settlement settlement system settlement systems Short-term interest rate Stock Exchange stock market Stock market index stock trading Tax tax regime telecommunications term deposits Terrorism Trade balance trade deficit trading transparency treasury Treasury bill Treasury bill rate trust fund trust funds turnover Valuation value of collateral World Trade World Bank Sustaining Robust Growth, Mitigating Risks and Deepening Reforms : Lao PDR Economic Monitor, May 2012 |
| geographic_facet |
East Asia and Pacific Lao People's Democratic Republic |
| description |
With development soaring in construction, manufacturing, mining and services, Lao PDR's economic outlook in 2012 is positive. As the driving force behind the domestic economy, these sectors are anticipated to drive a projected growth of 8.3 percent by year-end. To begin, higher wholesale and trading, tourism as well as transport and telecommunications will impact the service sector this year. A construction boom is also on the horizon supported by the preparation for the 9th Asia-Europe Meeting (ASEM) in Vientiane Capital. With this said, construction will support the manufacturing sector with the additional demand for cement and construction materials. Food and beverages will also expand in response to sustained domestic demand. Additionally, Phu Bia mining company's upgrade of existing copper and new gold and silver projects will generate more output from the mining sector. On the other hand, the power sector will contribute less in comparison to last year, despite the operation of Nam Ngum 5 hydropower project. In the mean time, agricultural output is expected to rebound after the adverse impacts of 2011's floods. Despite this robust growth, the medium-term outlook remains subject to uncertainty in external markets. In 2011, the National Assembly revised and approved the general tax law introducing public finance to a transparent, turnover based presumptive tax regime for businesses with a turnover below the Value-Added Tax (VAT) registration threshold. In effect, this law eliminated minimum business tax. Finally, the implementation of the 'one-stop' service (as stipulated on the enterprise law and the new investment promotion law) commenced in October 2011. |
| format |
Economic & Sector Work |
| author |
World Bank |
| author_facet |
World Bank |
| author_sort |
World Bank |
| title |
Sustaining Robust Growth, Mitigating Risks and Deepening Reforms : Lao PDR Economic Monitor, May 2012 |
| title_short |
Sustaining Robust Growth, Mitigating Risks and Deepening Reforms : Lao PDR Economic Monitor, May 2012 |
| title_full |
Sustaining Robust Growth, Mitigating Risks and Deepening Reforms : Lao PDR Economic Monitor, May 2012 |
| title_fullStr |
Sustaining Robust Growth, Mitigating Risks and Deepening Reforms : Lao PDR Economic Monitor, May 2012 |
| title_full_unstemmed |
Sustaining Robust Growth, Mitigating Risks and Deepening Reforms : Lao PDR Economic Monitor, May 2012 |
| title_sort |
sustaining robust growth, mitigating risks and deepening reforms : lao pdr economic monitor, may 2012 |
| publisher |
World Bank, Vientiane |
| publishDate |
2013 |
| url |
http://hdl.handle.net/10986/13814 |
| _version_ |
1764424649119105024 |
| spelling |
okr-10986-138142021-04-23T14:03:10Z Sustaining Robust Growth, Mitigating Risks and Deepening Reforms : Lao PDR Economic Monitor, May 2012 World Bank accounting asset quality Auction balance of payment Balance of Payments bank access bank branches Bank Office bank supervision banking assets banking sector banking system Broad money budget deficit budgeting capacity building capacity enhancement Capital account capital adequacy capital markets capital requirements cash management central Bank check clearing collateral requirements commercial bank commercial banking Commercial Banks commodities commodity commodity price Commodity Prices Consumer goods Consumer Price Index corporate tax rates Credit Growth Credit Unions creditors current account deficit debt burden debt management Debt service deficits Deposit developing economies Development Bank direct investments Domestic credit domestic debt domestic economy Economic Development economic developments emerging market equity stakes exchange rate expenditure expenditures export competitiveness Exporters exposure external debt Finance Corporation financial crisis Financial Information financial infrastructure Financial Institutions financial markets Financial Sector FINANCIAL SECTOR DEVELOPMENT financial stability financial statements financial support financial system fiscal deficit Fiscal Policy foreign asset Foreign Assets foreign bank foreign currencies foreign currency Foreign Direct Investment foreign exchange foreign exchange markets foreign exchange reserves foreign investment foreign investments foreign investors futures futures markets global economy global market global output government bonds government expenditures government policy Government Revenues government spending Gross Domestic Product holding human resources income income tax inflation inflationary pressure Information System infrastructure development institutional capacity insurance insurance companies insurance industry insurance market insurance penetration insurance policies insurance premium Intellectual Property International Development International Finance international market international reserves international standards inventory investment activities investment climate investment projects investment spending issuance labor market legal framework lenders life insurance life insurance products liquidities liquidity local businesses local economies local government local infrastructure macroeconomic policy market capitalization market environment market infrastructure market share Micro-Finance Micro-Finance Institutions microfinance Minimum capital requirements Monetary Fund monetary policy Money Laundering National Treasury Non-Performing Loan Non-performing loans NPL Oil price output outstanding loans pawnshops Payment System portfolio portfolio investment price cap price movements price volatility private banks private credit private credits PRIVATE SECTOR DEVELOPMENT prudential regulations PUBLIC DEBT public debt management public debt stock Public Finance public finances public investment Public Offering Public Offerings purchasing power rapid expansion recurrent expenditure recurrent expenditures regulatory framework remote areas reserve reserves Retail investors returns revenue assignments risk management rule of law Securities Securities Exchange security market settlement settlement system settlement systems Short-term interest rate Stock Exchange stock market Stock market index stock trading Tax tax regime telecommunications term deposits Terrorism Trade balance trade deficit trading transparency treasury Treasury bill Treasury bill rate trust fund trust funds turnover Valuation value of collateral World Trade With development soaring in construction, manufacturing, mining and services, Lao PDR's economic outlook in 2012 is positive. As the driving force behind the domestic economy, these sectors are anticipated to drive a projected growth of 8.3 percent by year-end. To begin, higher wholesale and trading, tourism as well as transport and telecommunications will impact the service sector this year. A construction boom is also on the horizon supported by the preparation for the 9th Asia-Europe Meeting (ASEM) in Vientiane Capital. With this said, construction will support the manufacturing sector with the additional demand for cement and construction materials. Food and beverages will also expand in response to sustained domestic demand. Additionally, Phu Bia mining company's upgrade of existing copper and new gold and silver projects will generate more output from the mining sector. On the other hand, the power sector will contribute less in comparison to last year, despite the operation of Nam Ngum 5 hydropower project. In the mean time, agricultural output is expected to rebound after the adverse impacts of 2011's floods. Despite this robust growth, the medium-term outlook remains subject to uncertainty in external markets. In 2011, the National Assembly revised and approved the general tax law introducing public finance to a transparent, turnover based presumptive tax regime for businesses with a turnover below the Value-Added Tax (VAT) registration threshold. In effect, this law eliminated minimum business tax. Finally, the implementation of the 'one-stop' service (as stipulated on the enterprise law and the new investment promotion law) commenced in October 2011. 2013-06-06T22:12:18Z 2013-06-06T22:12:18Z 2012-05 http://hdl.handle.net/10986/13814 en_US CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo/ World Bank World Bank, Vientiane Economic & Sector Work East Asia and Pacific Lao People's Democratic Republic |