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Myanmar - 2018, CIA World Factbook
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World Factbook - Central News Agency
Laos today has its origins in the old Lao empire of Lan Xang, which was founded in the fourteenth centuary under King FA NGUM. Lan Xang had an impact on Cambodia, Thailand and Laos for 300 years. Laos came under the rule of Siam (Thailand) after hundreds of years of progressive demise from the end of the eighteenth to the end of the nineteenth cent. when it became part of the Indochina of France.
In 1907, the French-Siamese treaty marked the present Laos-Thailand frontier. There was a slow, restricted reversion to the privat sector and the liberalisation of international investments legislation in 1988. In 1997 Laos became a member of ASEAN and in 2013 of the WTO. demographic pyramid: improved: unimproved: improved: improved: unimproved: etymology: name means "country of the Laotian people" The Lao administration, one of the few left single-community states of communism, began decentralising the monitoring and promotion of the privatisation sector in 1986.
The average annual rate of averaged more than 6% over the 1988-2008 timeframe, and Laos has recently been one of the quickest in Asia, with an average annual rate of more than 7% in the last ten years. Nevertheless, Laos is still a land with an undeveloped infra-structure, especially in the countryside. Recently, the economy has been confronted with a continuing balance of payments shortfall, declining exchange rate reserves and rising government indebtedness.
The Lao Chinese industry is highly reliant on capital-intensive raw material imports. Economists have profited from high-profile FDI in hydroelectric power plants along the Mekong River, coal and gold mines, timber felling and building, although some of these sectors have been criticised for their impact on the environment. In 2004, Laos obtained normal trading with the US and in 2013 sought trading advantages under the Generalised System of Preferences, after being accepted into the World Trade Organisation at the beginning of the year.
In 2016 Laos chaired ASEAN. The Lao authorities are in the midst of introducing a VAT system. It also has persistent issues with the commercial landscape, such as cumbersome regulatory filing needs, a regulatory and enforcement loophole, and ambiguous or contradictory rules.