At the dawn of ASEAN Economic Integration by end of 2015 it is the best time to consider the business opportunities offered by the dynamic economies Laos, Cambodia and Myanmar.

Natural resource development in Lao PDR has helped the country achieve consistently high economic growth rates throughout the last decade. Real GDP growth will average 7.6% a year in 2015-16, supported by rising exports of tourism services and recent developments in agriculture, hydropower and mining. Construction is booming and the garment industry is expected to see an export growth as the previous years.

Cambodia continues to enjoy robust growth as well according to a report of the World Bank. Real growth in 2014 is estimated to have reached 7%. The garment sector, together with construction and services, in particular finance and real estate, continues to propel growth.

Myanmar is currently in a triple transition - from an authoritarian military system to democratic governance, from a centrally directed economy to a market-oriented economy, and from 60 years of conflict to peace in its border areas. These transitions have the potential to create opportunity and for the country to resume its place as one of the most dynamic economies in Asia. Since 2011, the government has embarked on an ambitious economic, political and governance reform program.

Myanmar’s economy is estimated to have grown by 8.3% in FY2013/14, driven mainly by construction, manufacturing, and services. The economy is projected to expand further by 8.5% in FY2014/15, led by gas production and investment.

Recent developments in these three countries show that there is also a good business potential for European companies. Hydropower, tourism, garment industry, environmentally friendly CDM projects, food technology are just a few examples of successful European business activities.

For confirmations and more information, please contact Anna Rivera of ECCP at 845 1324 or anna.rivera@eccp.com.