Laos
Chinese property developer increases its presence in Laos
2013 is forecast to be a positive year for the economy in Laos Today reports that a property developer based in Shaghai, China has recently initiated the construction of a US$1.6 billion project in Vientiane, the capital city of Laos. This move gives a considerable boost to Chinese presence in the Laos economy. Last December, the Lao government achieved an agreement with Shaghai’s Wanfeng Group, a major developer of Chinese shopping malls, to develop 365 hectares around That Luang Lake in Vientiane. The project will comprise a commercial, residential and tourist complex. According to the Xinhua news agency and Wanfeng’s website, construction of this project began at the beginning of this week
2013 is forecast to be a positive year for the economy in Laos Today reports that a property developer based in Shanghai, China has recently initiated the construction of a US$1.6 billion project in Vientiane, the capital city of Laos. This move gives a considerable boost to Chinese presence in the Laos economy.
Last December, the Lao government achieved an agreement with Shanghai Wanfeng Group, a major developer of Chinese shopping malls, to develop 365 hectares around That Luang Lake in Vientiane.
Wanfeng Group
The project will comprise a commercial, residential and tourist complex. According to the Xinhua news agency and Wanfeng’s website, construction of this project began at the beginning of this week
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Thailand Property – China increases its presence in Laos
Asean
CLMV economies Outlook by EIC Q1/2021
Within the region, Vietnam’s economy is projected the fastest growth due to ongoing strong exports performance for electronics products and a resilient domestic economy.
The global recession and COVID-19 pandemic heavily affected CLMV economies in 2020, resulting in major slowdown in Vietnam and Myanmar whereas Laos and Cambodia faced economic contractions from additionally specific negative factors.
Laos
China’s debt-trap diplomacy: Laos’ credit rating downgraded to CCC
Laos’ debt challenge is deeply concerning, with some media commentators suggesting the country is falling into a debt trap as a result of Chinese infrastructure investments connected to the Belt and Road Initiative (BRI)
On 23 September, the Fitch Ratings agency downgraded Laos’ credit rating to CCC — the second downgrade in 2020, having dropped to B- in May.
Cambodia
CLMV’s economic growth crashes to two-decade low due to COVID-19
The COVID-19 crisis has caused the rate of economic growth in the CLMV bloc to be at its lowest in two decades, the CLMV economies could grow at 3.4 percent this year
The COVID-19 pandemic is having a negative impact on CLMV economies through their dependency on foreign-sourced revenue from tourism and exports says KResearchCenter.
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