Over half a century ago, Lao PDR began its journey to become a modern nation and committed itself to long-term development ambitions. It has delivered electricity, schools, roads, and has become an important energy exporter.
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VIENTIANE, LAO PDR, February 3, 2015 – The growing Lao economy needs to diversify beyond its natural resource base to create more jobs and improve the business environment for foreign and domestic investors,... Show More + according to two new World Bank Group reports released today.Greater private sector investment in businesses can increase opportunities in the agricultural, services and manufacturing sectors – where the most new jobs can be created - and opportunities for the country’s youth will increase if future workers can learn more and stay in school longer, according to the World Bank Group Lao Development Report and the Investment Climate Assessment.“Fueled by rapid growth in the hydro and mining sectors, the Lao economy is growing fast. However, it is not generating a lot of jobs,” said Sally Burningham, World Bank Country Manager in Lao PDR. “To end poverty and boost shared prosperity, an improved business environment can help increase the number of jobs in agriculture, manufacturing and Show Less -
An additional 96,000 young people will be looking for jobs every year in the coming decades. Having more potential workers presents an opportunity for growth, but only if productive, income-generating... Show More + jobs are available.While the government has focused on the role of education in skills development, the Lao PDR Development Report aims to identify what needs to be done to create more and better jobs for Lao PDR’s growing population.Key findingsLao PDR’s economy is growing fast but growth is mainly driven by the hydro and mining sectors where very few jobs are created: only 22,000 people work in these sectors and this number is unlikely to increase much, given how capital intensive those sectors are.Currently, most of the jobs that are available in Lao PDR are not very attractive: productivity and growth remains very low, and this implies relatively low wages, and relatively slow growth in those wages.The underlying problem is that a difficult business environment keeps foreign and domes Show Less -
BANK CONTRIBUTIONThe AGI program is supported by US$ 20 million from the Adolescent Girls Initiative Multi-Donor Trust Fund.PARTNERSThe Bank’s partners in the AGI are the Nike Foundation and... Show More + the governments of Afghanistan, Australia, Denmark, Jordan, Lao People’s Democratic Republic, Liberia, Nepal, Norway, Rwanda, Southern Sudan, Sweden, and the United Kingdom.BENEFICIARIES“This is our chance to be independent. This is my chance to learn new things, and be a leader in my community—and one day teach other girls. We can’t allow our fear to overcome us."— Princess Sheriff, New Kru Town, Liberia "Before I went into the program, I didn’t know what to expect. I didn’t know how to communicate well. I didn’t know how a CV is done. Now, I know how to meet with Human Resources and I know how to negotiate.”— Borhan , Irbid, Jordan"It is an incredible experience and opportunity for me. My project focuses on manufacture of Lao traditional handicrafts and giving job op Show Less -
Vientiane, February 8, 2013---The economy of Lao PDR, commonly known as Laos, is modernizing rapidly and this has important implications for the work skills that are needed. To find and keep a job, more... Show More + and more workers will need a broader set of skills and abilities, which go beyond the ability to read and write. In the future, workers will be asked to quickly learn how to operate new machinery, work in larger teams, and solve more complicated problems.Evolving job requirementsThese additional job requirements may come faster than expected, with Laos’ economy opening wider for trade. In addition, part of ASEAN’s goal of transforming itself into a single market means that it will allow skilled workers to look for jobs across the region by 2015.There are some signs that many of these changes have already taken place. In a recent World Bank survey in Laos, businesses said that their biggest constraint to growth was finding adequately educated workers.Equipping Lao workers with such skill Show Less -