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Economy in Asia   "We need to focus on 12 hydropower projects"

Laos expects $8.94 billion trade volume in 2017

Souphanh KeomixayLaos will strive to record a trade volume of 8.94 billion in 2017, Lao Minister of Planning and Investment Souphanh Keomixay said.

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READ MORE Laos eyes 7 percent economic growth in 2018

Laos would do its utmost to increase its export volume to $4.45 billion and limit its import at 4.48 billion, the minister was quoted by Lao news agency.

The target of the Lao government also includes increasing the processing industry and handicraft production to 6.9 trillion Lao kip ($844.7 million).

"To reach these targets, the government has to attach greater attention to the production sector, making sure products and goods meet international standards, especially in the fields of the agricultural processing industry and garment industry," said the minister.

"We need to focus on 12 hydropower projects making sure that these projects are completed by the end of this year," said the minister.

These power plants will have a combined installed generation capacity of 468.45 MW and will generate electricity at an average of about 1,872.92 GWh per year, according to the report.

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