Category Archives: Finance – Banking – Money

Numerous Officials Cited For Corruption By Inspection Authority

Numerous officials cited for corruption by inspection authority

Numerous officials at the central and local levels have been found to have been involved in corrupt conduct which has resulted in a huge loss of financial resources.
The activities were revealed by the State Inspection Authority (SIA) when reporting on the results of their inspections over the past year. Some officials from the agriculture sector in Saravan province were involved in document forgery, defrauding the state of ….. Continue reading

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IFC Promotes Increased Access To Credit

IFC Promotes Increased Access To Credit

The International Finance Corporation (IFC), a member of the World Bank Group, is working with the Bank of the Lao PDR (BOL) to reform its credit-reporting framework.
This is part of a wider effort to improve the country’s financial infrastructure, facilitate lending for smaller businesses, and boost economic …. Continue reading

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China’s New Silk Road Is Getting Muddy

China’s New Silk Road Is Getting Muddy

With the future of U.S.-China relations an open question for the incoming Donald Trump administration, many have focused on whether the president-elect’s promise to withdraw from negotiations over the Trans-Pacific Partnership (TPP) will enhance Beijing’s growing influence in East Asia. But rather than hand-wringing over TPP’s ignominious failure, Asia watchers should turn their attention to ….. Continue reading

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Number Of New Entrepreneurs Drops

Number Of New Lao Entrepreneurs Drops

The number of entrepreneurs registering businesses in Laos declined by 13 percent over the past 10 months of this fiscal year compared to the same period last year.
According to a recent government report, the number of registered businesses reached 1,666 units from October 2016 to May 2016 with registered capital amounting ….. Continue reading

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Trade Surplus Predicted For 2016

Trade Surplus Predicted For 2016

The total value of goods, imports and exports to Laos is expected to see an overall trade surplus of an estimated US$73 million at the year’s end, with data currently available for the first nine months of 2016.
The value of exports is expected to reach US$4.081 billion or 10.29 percent over the plan while the value of imports is expected to reach US$4.008 billion, or 76 percent of the plan, according to …. Continue reading

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Central Bank Permits Importers To Borrow In Foreign Currency

Central Bank Permits Importers To Borrow In Foreign Currency

The Bank of the Lao PDR has permitted commercial banks to release loans in foreign currency to importers, including those who currently have no income in foreign currency.
The central bank issued a decision recently to relax borrowing restrictions, which previously allowed only those having income in foreign currency to borrow in …. Continue reading

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