In February this year, Laos became a member of the World Trade Organisation. The Laos government has committed to create a more conducive business environment by reforming areas such as tax, trade and intellectual property. These positive measures has produced results as the Laos economy is expected to maintain its high growth rate of more than 6% over the past 2 decades. Laos is also attracting more Foreign Direct Investment (FDI) and growth is expected to reach 8.5% in 2013.
The tourism sector is the fastest growing sector in Laos. Tourist arrivals increased 22% with Laos receiving 3.3 million visitors in 2012. Recently, Laos was accorded the World's "Best Tourist Destination 2013" by the European Council on Tourism and Trade. Laos is also home to the UNESCO World Heritage Site of Luang Prabang.
Ample construction opportunities are available in Laos with the strong economic growth. The construction of a railway line between Kunming, China and Vientiane is also expected to improve the connectivity of Laos.
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