People’s Democratic Republic ( Laos ) is a country without access to the South-East Asian Sea, surrounded by Burma (Myanmar), Thailand, Cambodia, Vietnam and the People’s Republic of China.
The city of Vientiane is its capital, the official language the Lao, the official currency the kip. The motto of Laos is “Peace, Independence, Democracy, Unity and Prosperity,” and its flag consists of three regular horizontal stripes red and blue, white with a white disk at its center. The national anthem is Pheng Xat Lao. The inhabitants of Laos are named Laotians.
Included in the Golden Triangle, Laos is the world’s third largest opium producer behind Afghanistan and neighboring Burma. However, Laos’ subsoil is very rich in raw materials (coal, zinc, copper) and the mining sector contributes to more than half of total exports. Forestry, agricultural land, hydroelectricity and minerals account for more than half of Laos’ total wealth. One-third of the country’s economic growth between 2005 and 2010 was based on hydroelectricity and mining.
The economy of Laos depends heavily on investment and trade with its Thai neighbors, Vietnamese and especially the Chinese in the north. Pakse also experienced growth based on cross-border trade with Thailand and Vietnam. In 2009, despite the fact that the government was still officially communist, the Obama administration in the United States declared that Laos was no longer a Marxist-Leninist state and lifted the bans on Laotian companies receiving Share of Eximbank. In 2011, the Vientiane Stock Exchange began listing. In 2012, the government launched the creation of a commercial portal in Laos, a website that merges all the information that the commercial needs to import and export goods in the country.