Lao People’s Democratic Republic (Lao PDR) has made significant headway on its development path over the past three decades. The country’s sustained economic growth has been led by booming commodity exports and substantial inflows of external financing. Many Laotians have seen significant improvements in their well-being. Poverty has declined as household income has increased, and many important development goals in education and health have been achieved. In the face of macroeconomic challenges, a shift from commodity-driven growth to a more inclusive prosperity paradigm that emphasises the creation of broad-based opportunities, human capital development and green sustainability can unlock Lao PDR’s future development. This report presents priorities for overcoming the country’s current fiscal constraints and finding ways to fund this shift. Recommendations address strengthening Lao PDR’s sustainable finance and debt management, revenue generation and tax reform, investment promotion, and data capacity in order to tap into green finance mechanisms.

Thailand is a fast emerging country that aspires to become a high-income economy by 2037. Still, Thailand’s growth path has created large disparities that risk obstructing the next stage of development. This report lays out three transitions that Thailand needs to master to build capabilities ...

After an initial assessment of constraints to development in Myanmar found in Volume I, this Volume II assesses key issues and makes policy recommendations.

This assessment shows that Myanmar’s success in achieving growth will depend on developing the institutional/social capital necessary for economic/financial stability, to ensure the rule of law, to achieve environmentally sustainable development, and creating an enabling private sector environment.

Myanmar is in need of a structural transformation from an agrarian economy to one based more on a mix of modern activities, including manufacturing and services. Modernising the agricultural sector by building linkages to complementary non-agricultural activities – an “agricultural value chain” ...

Since the launch of the Ðổi Mới economic reforms in 1986, Viet Nam has achieved tremendous economic and social progress. Today, it is well integrated on global markets, has enjoyed robust growth, and has seen remarkable poverty reduction.