The economy of Laos is a lower-middle income developing economy. Being a communist state, the Lao economic model bears some resemblance to the Chinese and Vietnamese economies, in that it has implemented market-based economic practices while maintaining a degree of state control and welcoming foreign direct investment.
The economy of Laos is a lower-middle income developing economy. Being a communist state, the Lao economic model bears some resemblance to the Chinese and Vietnamese economies, in that it has implemented market-based economic practices while maintaining a degree of state control and welcoming foreign direct investment.
Source: Wikipedia "Economy of Laos" · CC BY-SA 4.0
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