Krungsri Research：2025年在稳定的边缘：老挝PDR和柬埔寨的不同路径和东盟含义报告（英文版）

Lao PDR faces economic vulnerabilities due to its high external debt burden, raising concerns about debt distress. These concerns have led to continuous currency depreciation, negatively impacting the economy. Looking ahead, debt restructuring negotiations with China will be a crucial factor to monitor. The economy of Lao PDR is mainly driven by the service sector on the supply side, particularly tourism, transportation, and logistics, as well as electricity exports, which serve as the countr