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The Lao People’s Democratic Republic, or popularly known as Laos, is an inland state within the Indo-China Peninsula. A land of hills and open plains, this ASEAN member-state is also among the underdeveloped nations of the world. The capital city of Vientiane is also known as Vieng Chan. Laos has a population of around eight million, mainly Buddhist followers. Average national income is around 1,000 U.S. Dollars. The primary natural resources of the land are copper mines, gold mines, tin mines, and timber, making the country suitable for the development of industry and raw material processing, such as, timber processing, garments, shoemaking, electronics, and chemical industries. Its population also makes the service industry worthy of investment.
Laos has a population of around 8 million and about 60 ethnic groups.
(2) Geography and climate
The national territorial area of Laos is 238,800km2. It is a landlocked country in northern Indo-China Peninsula and borders China to the north, Cambodia to the south, Vietnam to the east, Myanmar to the northwest and Thailand to the southwest. Laos mostly covered with forests. Therefore Laos also known as “the roof of Indochina”. The topography is generally high in the north and low in the south. The climate is tropical and subtropical monsoon climate and is divided into rainy season and dry season.
The primary natural resources of the land are copper mines, gold mines, tin mines, and timber. It also has rich water resources. The forestry area in Laos is around 9 million hectares and it has a forest coverage rate of about 42%.
As Laos’ economy is dominated by agriculture and the industrial foundation is weak, Laos is one of the least developed countries in the world. In recent years, the Lao government has rapidly developed the economy by strengthening macro-control, rectifying financial order, actively opening to the outside world and introducing foreign capital.