Vientiane sees surge in vehicle imports
Vientiane sees surge in vehicle imports
Laos has imported more vehicles than ever this year, with the category featuring high on the list of imports overall, according to a government report.
Industry and commerce officials yesterday attributed the high figure to several factors, including the country's growing purchasing power and the fact that vehicles can now be bought on an instalment plan.
Many people in Vientiane now have more spending power as a result of the inflow of foreign investment which has driven up the demand for land. This has pushed up land prices, leading to a surge in sales that has put more money in people's pockets. One of the top priorities for the newly wealthy is to buy a car or other vehicle.
The population of Vientiane now stands at close to 800,000, while the number of registered vehicles exceeds 577,890.
The large number of vehicles also reflects the continuing growth of the economy and the overall improvement in the standard of living, the Vientiane Department of Public Works and Transport noted this week.
In the first seven months of this year, more than 39,340 vehicles were registered in Vientiane including 24,292 motorbikes, 3967 cars, 5,429 pick-up trucks, 1,542 Jeeps, 1,092 vans, 2,886 trucks and 134 buses.
The transport department estimates that between 5,000 and 6,000 vehicles were registered each month this year. In July alone, more than 6,255 vehicles were registered in Vientiane.
Vehicles have become an essential part of people's lives, while the import of heavy vehicles is good for the country's economy, boosting productivity and facilitating construction.
But the surge in vehicle imports has created traffic congestion, which is becoming especially problematic in the rush hour.
The issue is exacerbated due to Vientiane's narrow roads, which cannot be widened because they are tightly packed with buildings.
Crowded roads are driving up the accident rate and creating parking problems. Many people park their vehicles on roadsides and sidewalks, which has led to frustration and a barrage of complaints from the public.
In one instance, the owner of a football pitch in Dongnaxok village, Sikhottabong district, Mr Ae, has created a large area for players and spectators to park their vehicles. But the space is still inadequate because everyone drives to the ground in a vehicle of some kind and so parking remains a problem. Similar situations can be found all around the city.
According to a government report, the total value of exports for the past six months of the 2012-13 fiscal year has reached US$880 million, equal to 42.71 percent of the plan.
Meanwhile, the value of the country's imports exceeded US$1.16 billion, equal to 69 percent of the plan for the year, with the trade deficit reaching US$281 million for the past six months.
The import of vehicles and spare parts topped the list of imports for this period, accounting for 26.4 percent of the total.
Other imported items include industrial products (16.19 percent), fuel and gas (14.73 percent), construction equipment (12.85 percent), and food items (7.8 percent).
vientiane times
