Category Archives: Finance – Banking – Money

Warning On Fake Dollar Bills

Posted on 21/02/2012 by Stephan
Central bank issues warning on fake dollar bills

The Bank of the Lao PDR is urging the public to join forces to combat a rising tide of fake US dollar banknotes and other foreign currencies.
The central bank made the call last week after learning that a group of people were circulating large numbers of fake US$100 notes and other currencies in Laos. The bank is concerned about the damage this can inflict both on individuals and the national economy. Continue reading →

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Businesses May Be Allowed To Hire More Foreign Workers

Posted on 10/02/2012 by Stephan
Lao work permits

Businesses operating in Laos may be given the right to employ more foreign workers if they cannot recruit domestic ones, as the government is keen to satisfy the needs of foreign investors.

Under Article 36 of the draft Law on Labour Management, the proportion of foreign manual labourers hired by a company should be no more than 10 percent of the total, while the proportion of foreign experts hired should not exceed 20 percent. However, if necessary, a company can request government approval to employ more foreign workers. Continue reading →

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BFL Voted Best Bank, Opens New Branch

Posted on 05/02/2012 by Cameron
opening

BFL (Franco-Lao Bank) was voted the best bank in Laos by J&C readers last month. BFL’s win coincides with the opening of its new branch in Sihom Village, Chantabouli District. The official opening, attended by J&C on Friday 3rd February, saw the branch ready for service with a convenient ATM right outside. Sihom is the fourth business unit opened by BFL in Vientiane, the three other business units being in Si Khai Village, Talat Sao Mall, as well as a small unit in U Express which opened in November 2011. Continue reading →

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Case Study Sees Mining As Powerhouse Of Lao Economy

Posted on 05/02/2012 by Stephan
sepon-mine

The mining sector is playing a major role in driving the Lao economy, according to the International Council on Mining and Metals.
According to the study the mining sector has come to represent 80 percent of foreign direct investment (FDI) in Laos.
The mining industry also is a significant contributor to the economy, providing 45 percent of total exports, 12 percent of government revenues and 10 percent of national income. These benefits have been complemented at the local level by stimulating markets and enhancing incomes. Continue reading →

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