Hanoi (VNA) - Laos could reachan economic growth of 7 percent in 2018, but needs to speed up mega projects, aLao economist has said.
According to the Xinhua news agency of China, Leeber Leebouapao from theNational Economic Research Institute told Vientiane Times that the furtherprogress of mega projects would serve as the main driver for economic growthamid the government's revenue shortfall.
Among the mega projects are the China-Laos railway,the Xayaboury hydropower project, development of special economic zones andother projects associated with the China-proposed Belt and Road Initiative, he said.
"If these mega projects progress as planned, we can maintain economicgrowth at 7 percent in 2018. Construction of several hydropower projects willbegin this year while others will be completed and become operational. Theseprojects will be key to economic growth," Leeber said.
During the government's monthlymeeting last month, Lao Prime Minister Thongloun Sisoulith instructed relevantministries accelerate the implementation of mega projects as a means to promoteeconomic growth.
Lao economists say 2018 could be agolden year for Laos if the Visit Laos Year 2018 campaign boosts touristarrivals as expected and generates more revenues to economic growth and povertyreduction efforts, the daily said.
The Lao government aims to attract atleast 5 million visitors who will generate revenue of about 900 million USD in2018.-VNA
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The Ministry of Commerce reported that imports also rose 18% to 29.9 billion USD during the same period, resulting in a trade surplus of 1.1 billion USD. In May alone, Thailand posted a 4.6 billion USD trade surplus with the US and a 4.1 billion USD trade deficit with China.
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A street in Vientiane (Source: alamy.com) 
