Lao – A land of rich natural and mineral resources
Lao is a country of rich natural resources and mineral wealth which are largely unexploited. Foreign companies can find extensive investment opportunities in several sectors including agriculture, forestry, mining and other industries here.
In recent years, Lao’s government has made progress in reforming and improving the investment environment. Trade and investment reforms have been known as an integral part in government’s efforts to build a market-based economy. The government has actively engaged in various trade agreements including the Trade and Investment Framework Agreement with the United States, ASEAN Trade in Goods Agreement (ATIGA), ASEAN-Australia and New Zealand Free Trade Agreement (AANZFTA), etc.
Lao’s economy has grown at nearly 8% for the last decade and is ready for global integration. A considerable number of foreign companies including European enterprises have invested in Lao, which shows the potential of this untapped market. And thanks to the investment boom in mining industry and natural resource exports, national income has doubled since 2006.
Lao has a young population with 70 percent under the age of 35. In 2016, Lao witnessed a trade deficit of approximately $2.88 billion with merchandise imports of $7.68 billion, exports of $4.8 billion and net services of $543 million. Lao is the 90th largest importer in the world, which makes this country a promising market for many foreign companies.
Even though Lao’s market has a lot to offer, there are certain challenges if you do business here. Among those challenges, cultural difference and language barrier are the main obstacles that you cannot overlook.
Lao has great cultural diversity with over 47 ethnic groups and 80 different languages. Each group has their own dialect, customs and tradition. Therefore, if you do not understand thoroughly about Lao’s culture, you might face certain difficulties when doing business here. That is why Lao localization is an inevitable part that can help you survive in the market.
Lao, which is the official language of Laos, can be divided based on regional dialects: Vientiane, northern, northeastern, central and southern. Due to the variety in national language, you need perfect Lao translation to communicate effectively with local customers.
Our Lao translation and localization service
You should be well aware that Lao localization is much more than Lao translation. You cannot just have Lao translation for your marketing or website content and neglect Lao localization process. Translation is just the start of globalization.
With native Lao speaking translators and localization experts, we provide high quality Lao translation and Lao localization service. We ensure the accuracy and perfectness of our service so that you will always have peace of mind even when your project is in a rush.
We are the provider of Lao translation and localization that you can trust!