Vientiane targets economic growth of 11 percent
Vientiane authorities are aiming to grow the capital’s economy by 11 percent this year and expect that GDP will increase by 41.6 trillion kip. It is also anticipated that the capital’s residents will have an annual average per capita income of US$5,000. The agriculture and forestry sector should grow by 7 percent and represent 17 percent of GDP while 16 percent growth is projected for the industry sector, which should represent 47 percent of GDP. Growth of 11 percent is being targeted for the services sector, which should represent 36 percent of GDP, according to Vientiane Planning and Investment Department figures. To reach the target, Vientiane must invest 14.9 trillion kip in socio-economic development, of which 103 billion kip is to come from the state budget, representing 0.7 percent of the total. In the agriculture sector, Vientiane will try to produce rice for domestic consumption and export on 76,000 hectares of land with a yield of 355,800 tonnes.
