Singapore hopes to be part of Laos’ growth story: PM Lee

Laos’ leaders have ambitious plans for the country, and Singapore hopes to be part of Laos’ growth story, Prime Minister Lee HsienLoong said on Tuesday. Speaking at an official dinner at the Istana for visiting Lao Prime Minister Thongloun Sisoulith, Mr Lee noted that Singapore companies are recognising Laos’ economic potential and have invested in sectors such as real estate, energy, telecommunications, and agriculture. Laos is one of the region’s fastest-growing economies, averaging eight percent growth over the last decade, and has abundant resources and a young workforce. And Mr Thongloun, who is here on a one-day official visit, has set a 2030 target for Laos to reach upper middle-income status, and the country plans to transform itself from a “land-locked” nation to a “land-linked” one through infrastructure projects.

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