Singapore media: China-Laos Railway "changes the rules of the game for Laos"
2024-08-08
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[Global Times reporter Ding Yazhi] The China-Laos Railway, this steel dragon connecting China and Laos, is changing the economic landscape of Laos and the entire region with its unprecedented speed and efficiency.
"The railway network has changed the rules of the game for Laos." Singapore's "Asia News Network" reported on the 6th that the director of the office of the Lao Ministry of Public Works and Transport emphasized at the "China-Laos Railway Tour" event of the 2024 ASEAN Media Tour that the China-Laos Railway has become an important trade gateway between China and ASEAN. The China-Laos Railway connecting Kunming, China and Vientiane, Laos officially started operation on December 3, 2021. As an important project for my country's joint construction of the "Belt and Road" initiative and Laos' strategy of "transforming from a landlocked country to a land-linked country", this 1,035-kilometer railway line not only alleviates Laos' inland transportation challenges, but also releases Laos' potential as a transportation hub in the ASEAN region.
According to the Laotian Vientiane Times, after the opening of the China-Laos Railway, it will only take Laotians about two hours to travel from the capital Vientiane to Luang Prabang in the north by high-speed rail, and another two hours by high-speed rail to reach Boten in Luang Namtha Province, which is close to the Mohan Port in Yunnan, China. If traveling by road, the journey time is 8 hours and 15 hours respectively.
The Vientiane Times said that entrepreneurs active in Thailand, Laos and China "are like early birds, benefiting from regional integration." The chairman of a Thai railway transportation company said: "Railway transportation can save 30% of transportation costs."
Liu Hong, general manager of the Sino-Laos joint venture Laos-China Railway Co., Ltd., said that the passenger and freight volumes of the China-Laos Railway have exceeded expectations, with a very high growth rate. In 2023, the passenger volume of the Laos section alone reached 2.594 million, an increase of 85.8% year-on-year. In addition, last year, the China-Laos cross-border train transported 111,000 passengers and 4.089 million tons of freight, an increase of 83.1% year-on-year. Only two and a half years after opening, the railway's annual passenger and freight transport volume has approached the annual target for the first 10 years after its opening. Anongde, deputy general manager of Laos-China Railway Co., Ltd., said that these data indicate the profitability of the railway and also show that the company has the ability to repay the debt of the railway construction funds.
According to reports, Laotian President Thongloun Sisoulith refuted the rumor that the China-Laos Railway is a "debt trap" in May last year. He made it clear to Nikkei Asia that the China-Laos Railway is an important force in promoting economic and social development and is by no means a so-called "debt trap." "We have heard rumors about the 'debt trap' and I just want to clarify that this is not the reality facing our country." He said that the Lao people are proud of the country's first high-speed railway line.
The construction and operation of the railway has created a large number of jobs for Laos. Darani Vongmaongsak, director of the Tourism Management Department of the Lao Ministry of Information, Culture and Tourism, said that high-speed rail has played a significant role in promoting domestic and foreign tourism and economic growth. She said that in the first four months of this year, the number of foreign tourists received by Laos increased by 35% year-on-year to 1.5 million, of which Chinese tourists accounted for 351,000, ranking third as the source of tourists. In response to the growth in demand, Laos is actively developing new attractions, upgrading infrastructure and improving hotel services.
With the improvement of the railway network, Laos' economic growth expectations have also been significantly raised. The World Bank predicts that in the long run, the railway network may increase Laos' total income by up to 21%. The World Bank also emphasizes that Laos should carry out bold policy reforms to promote trade and improve connectivity and the business environment.
