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Laos expects rapid growth, urbanization over next two decades
Published in Saudi Press Agency on 14 - 01 - 2011


The Lao government expects the country's
population to increase from 6 million today to 6.9 million people by
2015, with the number of workers employed in agriculture shrinking to
70 per cent, state-run media reported Friday, according to dpa.
A report by the country's communist government said the number of
workers in the industrial sector was expected to increase from 4.8
per cent in 2005 to about 7 per cent in 2015.
Laos remains one of Asia's least-developed countries. It is
pinning its development hopes on a series of dams to provide electric
power to its energy-hungry neighbours, particularly Thailand, and has
said it expects annual economic growth of 8 per cent over the next
five years.
Earlier this week Laos opened its first stock exchange, with only
two listings, which the government says is part of its plan to
transform the country into a "basic modern and industrialized nation"
by 2020.
The Vientiane Times Friday quoted a senior Lao economist, Liber
Libouapao of the National Economic Research Institute, as saying the
growth in the nation's workforce will be good for the economy in the
next decade, but the government needed to pay more attention to
developing a skilled labour force.
The government report said 78.5 per cent of the workforce in 2005
was employed in agriculture.
As in other developing countries, the government expects the pace
of migration from rural to urban areas to accelerate over the next
two decades.
"I think that the overall labour market will automatically find a
balance. If the workforce in Laos does not meet demand the country
may have to import from other countries," Liber said.


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