Lao Economy

More Than 36 Trillion Kip Invested in Vientiane Capital Last Year

Source: KPL

The last year’s investment in Vientiane Capital fetched over 36.9 trillion kip (USD 4.48 billion) mostly in commercial production and systematic food security projects.

The gross domestic product (GDP) grew by 10.90% with an average per capita of US$4,700,Vientiane Mayor Sinlavong Khoutphaythoun briefed at the plenary session of the Vientiane Party Executive Board last week in the presence of Prime Minister Thongloun Sisoulith.

There were three economic-driven sectors in Vientiane Capital over the past one year: industry at 47%, services at 36% and agriculture fetched 17% of the GDP. These sectors of Vientiane’s economy have been growing steadily.

Vientiane Capital collected over 1 trillion kip in taxes for the state budget. Last year. Vientiane produced 341,150 tonnes of paddy rice, 7,000 tonnes of maize and 4,300 tonnes of organic vegetables.

On the other hand, the capital paid close attention to the socio-cultural side by creating 11,211 cultural families in coincidence with the restoration of the Ho Phra Keo museum and That Luang stupa, providing welfare for retired officials under the Prime Minister’s Decree, as well as working to solve the problem of beggars.

Vientiane also promoted the tourism sector and attracted more than 1.5 million tourists last year.

The capital has 481 villages in nine districts, with a total area of 3,920 square meters and a population of over 800,000.