BEIJING, Aug 26 (Bernama-BUSINESS WIRE) — A few days ago, the Laos government released a report predicting that the GDP growth rate will be 6.7% in 2019, the industry will become the biggest driving force. It is estimated that the industrial growth rate will be 8.3%. Khanpei, a member of the Lao parliament, told reporters that many garment manufacturers and electronic equipment companies are gradually shifting their production bases to Laos. After the opening of the China-Laos railway, the transportation costs will be reduced. Laos’ industrial modernization will benefit from the Railway.
Interconnection Between Laos and ASEAN Countries Will Also Rely on it
The China-Laos Railway project invested and built mainly by China and directly connected with China’s railway network. The 414 km long railway adopts Chinese technical standards and equipment, and is scheduled to be completed in December 2021.