Lao economy kept together by 94% microbusinesses: survey
The economy of Laos, a landlocked nation in Southeast Asia which struggles to shrug off its least-developed country status, has still a long way to go in terms of establishing a better diversification, let alone industrialisation.
In Laos, microbusinesses still account for a large majority of businesses, making up 94.2 per cent of all registered enterprises, according to a recent survey cited in the Vientiane Times, which referred to data from the Lao Statistics Bureau collected between 2019 and 2020.
According to the data, a total of 133,997 enterprises recorded operations in 2019. Of them, 126,168 are microbusinesses, 6,600 small enterprises, 954 medium enterprises and 276 large enterprises.
The majority of enterprises were registered in central Laos and in urban areas, with fewer enterprises in southern Laos and in areas without road access. Larger enterprises were concentrated among Luang Prabang, Khammouane, Savannakhet, Champasack and the capital Vientiane.
Wholesale, retail, repair shops make the lion’s share of Lao businesses
Wholesale and retail businesses accounted for the largest percentage of registered enterprises in Laos, followed by car and motorbike repair garages, together making up 61.2 per cent of all registered enterprises. Processing plants made up 14.7 per cent, while hospitality businesses accounted for 10.6 per cent.
These registered enterprises employed a total of 490,373 staff, with 50.1 per cent of them being female, while over 90 per cent of enterprises surveyed said they employ between one and five staff members.
Registered capital across all enterprises totaled 649,000 billion kip ($69.6 billion), while in 2018 those enterprises generated revenue of 107,584 billion kip ($11.5 billion), according to the statistics.
Snapshot from a business fair for small and micro enterprises in Vientiane, Laos in 2020 The economy of Laos, a landlocked nation in Southeast Asia which struggles to shrug off its least-developed country status, has still a long way to go in terms of establishing a better diversification, let alone industrialisation. In Laos, microbusinesses still account for a large majority of businesses, making up 94.2 per cent of all registered enterprises, according to a recent survey cited in the Vientiane Times, which referred to data from the Lao Statistics Bureau collected between 2019 and 2020. According to the data, a...
The economy of Laos, a landlocked nation in Southeast Asia which struggles to shrug off its least-developed country status, has still a long way to go in terms of establishing a better diversification, let alone industrialisation.
In Laos, microbusinesses still account for a large majority of businesses, making up 94.2 per cent of all registered enterprises, according to a recent survey cited in the Vientiane Times, which referred to data from the Lao Statistics Bureau collected between 2019 and 2020.
According to the data, a total of 133,997 enterprises recorded operations in 2019. Of them, 126,168 are microbusinesses, 6,600 small enterprises, 954 medium enterprises and 276 large enterprises.
The majority of enterprises were registered in central Laos and in urban areas, with fewer enterprises in southern Laos and in areas without road access. Larger enterprises were concentrated among Luang Prabang, Khammouane, Savannakhet, Champasack and the capital Vientiane.
Wholesale, retail, repair shops make the lion’s share of Lao businesses
Wholesale and retail businesses accounted for the largest percentage of registered enterprises in Laos, followed by car and motorbike repair garages, together making up 61.2 per cent of all registered enterprises. Processing plants made up 14.7 per cent, while hospitality businesses accounted for 10.6 per cent.
These registered enterprises employed a total of 490,373 staff, with 50.1 per cent of them being female, while over 90 per cent of enterprises surveyed said they employ between one and five staff members.
Registered capital across all enterprises totaled 649,000 billion kip ($69.6 billion), while in 2018 those enterprises generated revenue of 107,584 billion kip ($11.5 billion), according to the statistics.
