Chinese foreign-direct investment has climbed since the trade war began as firms seek alternative manufacturing sites to avoid US tariffs, said Bank of the Laos Deputy Governor Vathana Dalaloy.
Exports of goods and services account for about 34% of gross domestic product, significantly less than neighbours such as Vietnam and Cambodia, World Bank data show. This means the nation is relatively shielded from the global trade slowdown triggered by the U.S.-China spat. Major infrastructure projects, such as the Laos-China railway, are supporting the expansion in Laos’ economy, along with sales of electricity to Thailand from hydro-power projects.
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