from 3 April 2024, users from Lao PDR will be able to use mobile banking applications of participating commercial banks to scan Thai PromptPay QR Code displayed by merchants in Thailand.
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The President of Laos on March 19 signed a decree restoring the value-added tax (VAT) rate to 10%
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The order is aimed at creating more jobs – and at demanding more benefits for Laotians from Chinese-funded projects.
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Revising health taxes — levies on harmful products like tobacco and alcohol – World Bank
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The government expects that China will soon be its top trading partner, with Chinese companies investing in 17 projects worth US$986 million since the start of this year.
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The Bank of the Lao PDR, is taking more steps towards monetary stability, ensuring that foreign currency that enters Laos is handled through the banking system.
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More young people are enrolling in Chinese language courses as the number of Chinese companies operating in Laos reaches an all-time high.
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The highest price rise in January was recorded in the hotel and restaurant category, which stood at 35.98 per cent year-on-year.
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The Prime Minister identified seven important issues to be addressed by the banking sector.
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The diesel shortage is the result of the closure of a large oil refinery in Thailand while the production line is upgraded
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The Bank of the Lao PDR (BOL) has issued a decision, which requires foreign investors to open specific bank accounts in Laos.
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Laos PM issued an order to addresses foreign currency use, movement, and possession and clarifies administrative roles regarding the FX Law.
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The government is considering a rare earth token project to be piloted in Laos to generate more foreign currency amid the country’s economic and financial difficulties.
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Chinese companies are currently investing in more than 900 development projects in Laos
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The move to increase excise tax rates comes amid the marked depreciation of the Lao kip.
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The Lao Ministry of Finance has pointed to several factors in favor of raising the VAT rate.
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During the official visit to Laos by a high-level Singaporean delegation, the two nation reaffirmed their partnership in the field of trade and investment.
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Vietnamese automaker VinFast on Friday sent 150 cars to neighbouring Laos for the launch of an electric taxi service
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Lao President has issued a decree that imposes higher excise tax on certain goods…
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This train service, which links the China-Laos Railway and the Shanghai-Kunming Railway, will be operated both ways
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Heineken Laos and Wunderman Thompson Thailand celebrate beer with ice culture.
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The Bank of the Lao PDR (BOL) will sell its third tranche of BOL bonds worth 3 trillion kip from September 6-8 as part of efforts to stabilize the value of the kip.
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Businessmen of two neighboring country is seeking more project to venture as the trade progress since the opening of the railway.
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4 Thai commercial banks in Laos have voluntarily terminated their membership in the DPO and closed operations due to changes in the business strategy.
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PM has pledged to amend legislation to improve the business environment amid fierce international competition…
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The Lao government has set ambitious targets for renewable energy development…
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What if Laos has equally caught Beijing in a “creditor trap?”
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Laos published a Decision on which requires importers and exporters to register their activities and related goods with MOIC.
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The Bank of the Lao PDR (BOL) has issued a new Decision on giving commercial banks greater flexibility in the trading of foreign currencies.
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National Bank of Cambodia is preparing to sign agreements with Vietnam and Laos to promote the use Cambodia’s local currency, riel, in their economic activities.
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Business operators have called on the government to seek urgent solutions to tackle soaring inflation
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Laos and China trading seek additional boost for Economic activity and trading.
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A five-star shopping mall and a hotel is set to open in time for the ASEAN Summit next year.
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Through the use of rail transport, Thai businesses have enjoyed faster and more direct shipment of goods, especially of fresh produce.
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The belt and road initiative is bringing tangible benefits for both countries and is not a debt trap according to chinese diplomat.
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The amount of cross-border freight transported by the Laos-China Railway has risen to more than 4 million tonnes.
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The year-on-year inflation rate dropped for the third month to 38.86 percent in May
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While investment in concession operations and special economic zones dropped in Laos last year, the number of newly registered businesses has increased significantly
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Laotian Prime Minister Sonexay Siphandone chaired the inaugural Ministerial Conference on Blockchain 4.0 Digital Transformation.
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The Lao government is committed to improving the quality of basic education, enrolling all children and keeping them in school, and improving education financing.
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Laos registered a trade deficit of US$17 million in April, according to official statistics released on Tuesday.
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The positive signals from the business registrations have proved Laos’s determination in bringing the economy to recover and develop.
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An increase on the minimum salary wage will be implemented starting May 1.
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The Bank of the Lao PDR issued a notice warning regarding illegal forms of currency trading.
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Thailand’s CP ALL Public Company plans to launch 7-Eleven convenience franchise stores in Laos by mid-2023.
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Businesses around Vang Vieng old airport are asked to move out as the new tourist complex is about to start construction.
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Trade Officials is working with food suppliers and market owners to set and observe appropriate prices over the Lao New Year holiday.
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The Khuadin Market in Vientiane will be undergoing renovation starting this April 2023.
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Rewarded as ‘Broker of the Year 2022’, J&C Insurance Brokers has been recognized for its industry-leading efforts to foster change and for its outstanding performance in 2022.
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Lao local businessmen are threatens with growing number of Chinese merchants with their expertise in trade and investment.
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Starbucks Laos opens its second store.
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Laos’ garment association has urged the government to reduce taxes on imported raw materials to lower production costs to make the industry more competitive.
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Expert says that the hospitality sector may struggle to deal with the influx of Chinese visitors to the country.
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Laos and Japan have affirmed their desire to further their economic and trade cooperation.
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BCEL has pledge to conduct an investigation regarding money hacking issue.
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Ministry of Health drop an ordinance to keep medicine pricing affordable.
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Luang Prabang is experiencing a surge of Chinese Tourist who visits the town.
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The country is looking forward for the boom of the businesses as more tourists starts to enter.
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A groundbreaking ceremony was held for Khaen twin towers of the Sithandone Special Economic Zone in Khong, Champassak.
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Laos Biospring.LTD and Singapore Zen science announced that the two parties have signed a joint venture company called BioZen
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U.S. based fabric designer was so amazed with Laos textile and include the items as part of her new collections.
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ASEAN will host the first region-wide online shopping event in August 2023 to promote cross-border trade through e-commerce.
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BOL has issued a new decision on the setting of currency exchange rates, as a guideline for commercial banks trading in foreign currencies.
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Premium French brand PEUGEOT expands to Laos as part of its Asean expansion strategy.
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Bilateral cooperation has been constantly promoted to strengthens area such as national defense and public security, economy and trade.
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The Lao government and private sectors are actively preparing for the arrival of Chinese tour groups.
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Greener trade and investment is crucial to tackling climate change in Laos, and will require regional governments to work together more closely.
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The Bank of Laos started piloting its digital currency following its memorandum signed with Japanese blockchain developer.
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The Lao economy has been seriously impacted by rising inflation and the deterioration of the national currency, the kip. These problems have been caused by longstanding structural vulnerabilities, and can only be corrected by medium- to long-term reform efforts.
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Kakao Mobility will establish a mobility platform in Laos and a service suited for the Laotian market this year with Vietnamese mobility firm LVMC Holdings.
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The steps needed to register a new business have now been posted online to ease business start-up, which will save time and simplify the process.
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Although its construction has been surveyed and studied for many years, the highway project has not progressed.
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The payment of government officials’ salaries, investment in development projects and repayment of debts constitute the largest portion of government expenditure allocated for 2023
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China has eased Covid-19 control measures after almost three years of travel restrictions
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The government plans to mobilise 41.15 trillion kip to address the projected fiscal deficit and repay domestic and overseas loans by the end of 2023
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Laos has recorded one of the highest rates of economic growth in South-East Asia over the past two decades, but few jobs have been created.
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In December 2022, Laos set a new record for the highest inflation rate of the year
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Despite the global economic downturn, the National Assembly of Laos has set an economic growth target of at least 4.5% for 2023
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To achieve this goal, the Ministry of Finance has pledged to modernise customs management systems at the main border checkpoints as part of efforts to plug loopholes resulting in financial leaks
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“It is hoped the newly appointed officials will contribute to stronger business performance and get familiar with the new rules, conditions and environment for the reform process and apply the newly restructured working methods”
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The government is looking at ways to derive more financial benefit from e-commerce, hoping to better manage and develop this form of business in order to earn more revenue.
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The Asian Development Bank (ADB) has forecast that the inflation in the Lao People’s Democratic Republic (Lao PDR) will average 23% in 2022 before falling to 10% in 2023
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The continuing depreciation of the kip is creating a major roadblock in the government’s efforts to rein in inflation
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Skyrocketing inflation is causing great hardship and people are desperately wondering how they can survive as prices across all categories hit record highs.
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A microfinance platform helps to financially include 850 villages in Lao PDR
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Southeast Asian countries look set to maintain ties with Russia as a trio of global summits loom, despite United States-led efforts to isolate Moscow over its Ukraine invasion
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The main exports included copper, rubber, bananas, cassava and other agricultural products
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China has become a key export market for Lao goods, especially agricultural produce, following the opening of the Laos-China Railway at the end of 2021.
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The current situation in Laos mostly involves people being tricked into forced labour, forcing them to provide sexual services, hiring pregnant women, and the live broadcasting of male and female nudity and sex on social media
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The price of food and non-alcoholic beverages has surged by 38.8 percent year-on-year, driven by the rising price of rice and other daily food items such as pork, poultry, fish, seafood, eggs, vegetable oil, fruit and vegetables
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Transport costs are not the only problem facing the country, but reducing them could help spur progress in other areas.
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All seven freight stations on the Laos-China Railway are now operational following the opening of Xay station in Oudomxay province on Tuesday.
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Under the new policy, money changers will be allowed to buy foreign currencies from customers but are forbidden to sell currencies other than kip
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The Study examines the financial viability and environmental sustainability of implementing a battery swapping system model for electric two-wheelers in Vientiane, to help achieve the government’s 2030 target of 30 percent electric vehicle penetration
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The Asian Development Bank (ADB) believes the Lao economy will see a gradual recovery next year, supported by new investment and higher renewable energy and mining output.
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The new banknotes can be used alongside the old 2003 notes, which will remain in circulation and can be used as normal.
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The survey indicates that businesses main need are for accountants, followed by sales staff.
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The IMF’s downgraded growth for Laos is linked to both external and internal factors, with the report forecasting that global growth will decrease from 6.0 percent in 2021 to 3.2 percent in 2022 and 2.7 percent in 2023.
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Fifty-four developing economies, including Laos, that account for more than half of the world’s poorest people need urgent debt relief as a result of cascading global crises
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Inflation rate in Laos surged from 30.01% in August, 2022, to 34% in September
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Drivers are charged high fees to enter the station even to deliver or pick up passengers.
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The bitqik platform provides full brokerage and trading services in cryptocurrencies and other digital assets, both within Laos and the region.
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World trade is expected to lose momentum in the second half of 2022 and remain subdued in 2023, as multiple shocks weigh on the global economy
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The currency devaluation is having a damaging effect on the Lao economy, driving up the price of products and creating more hardship for the poor.
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Lao Mountain Coffee’s peaberry blend has won first place in the Continental Awards for Asia coffee competition.
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Some 700 Malaysians are reportedly being held captive in Bokeo province, Laos and have been abused by the resort managers who are allegedly demanding a large ransom for their release
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Economic performance in Laos could be compromised by slowing global demand, rising debt, and a reliance on short-term economic fixes to cushion against food and fuel price increases
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The government has vowed to further address mounting public debt and the vulnerability of the macroeconomy to prevent the country from being dragged into default.
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Laos, Thailand, and China are thinking about building a new railway bridge, running parallel to the first Lao-Thai friendship bridge
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The Asian Development Bank (ADB) has lowered its 2022 economic growth outlook for Laos to 2.5 percent from 3.4 percent projected in April and to 3.5 percent from 3.7 percent for 2023.
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The company’s policy is linked to the unfavourable global economic outlook and continuing depreciation of the kip, which are impacting on businesses in Laos.
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DiscoverLaos and J&C Group have recently formed a new strategic partnership
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Cross-border tourism flows increase, and fresh goods exports find new markets
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Some of the direst warnings in more than a decade have been issued from two major Thai sources regarding severe flooding this year in Bangkok, the Thai capital.
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Fitch Ratings plans to withdraw the ratings on Laos in approximately 30 days from the date of this commentary for commercial reasons.
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Geo-economic factors mean that the concerns about Laos defaulting are unrealistic.
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“The EV is one of the keys to fight inflation,” Loca chief executive Souliyo Vongdala tells the Straits Times.
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The government has set up a committee to carry out business reforms in the state-owned Lao Airlines to ensure that the national flag carrier becomes self-sustained in financial management.
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Retail and wholesale outlets together with car and motorbike repair businesses accounted for 29.4 percent of all new business registrations in the first six months of 2022.
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The town of Luang Prabang, which is renowned for Unesco’s listing of its old quarter as a world heritage site, has seen 90 per cent of room reservations made by Thai visitors since Laos lifted all entry restrictions in May.
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Laos has seen a surge in the number of visitors following the lifting of travel restrictions in January as the Covid-19 pandemic subsided.
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The higher prices of fuel and consumer goods and the continuing depreciation of the Lao currency kip are among the main factors driving the inflation.
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The government is holding talks with the Lao Fuel and Gas Association over the possibility of importing another shipment of fuel, as it is expected that current stocks will be depleted by the end of this month,
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During the first six months of this year, Lao nationals working in other countries transferred millions of US dollar in remittances to Laos, with most of the money going to their parents.
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The Lao government is committed to ensuring that sufficient supplies of fuel are provided to meet public demand and boost economic growth after a countrywide fuel shortage in May and June caused widespread disruption.
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Laos has one of the highest inflation rates in the region, with the price rise recorded 23.6 percent year-on-year in June, according to ADB
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The lack of seats and the difficulty in obtaining tickets led passengers to make complaints on social media about the problems encountered, with many people having to wait for hours in long lines to buy tickets. This forced the company to expand its services.
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The West has pressed Laos to ditch Russia and support its sanctions but the SE Asian nation has stayed true to its old Cold War ally
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The Phase II of the project comprises a 7.5km extension of the railway from the Thanalaeng station at the Thai border to the Vientiane station.
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The government pledged to ensure sufficient fuel is available by pursuing market-based mechanisms, saying this would minimise damage to the economy and small-scale commercial production.
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The central banks of five Southeast Asian (SEA) countries have agreed to link their payment systems by November of this year, in order to allow for easier transactions for travellers within the region.
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The year-on-year inflation rate hit 23.6 percent, the highest figure ever recorded since May 2000.
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The Asian Development Bank (ADB) has lowered its economic growth forecast for developing Asia including Laos to 4.6 percent this year, from 5.2 percent projected in April.
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Reported leaks at the sides of the Nam Theun 1 Hydropower dam under construction in Laos were not a cause for concern and were normal when a dam began storing water
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Land surrounding a new railway station in the capital is in high demand, sources say.
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The monthly minimum wage in the country will be increased to 1.2 million kip (US$78) starting on August 1.
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Laos faces intensifying economic and financial crises and there is likely no way out without some form of a Chinese bailout or debt forgiveness.
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Electricite du Laos (EDL), a monopoly company which should generate a significant amount of revenue from its dominance in the energy market, has been operating at a loss for many years and has accumulated huge debts.
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The inflation rate in Laos hit 23.6 percent year-on-year in June, the highest figure ever recorded since May 2000 as surging prices of energy and consumer goods continue to deepen hardship and create new pains for the Lao public.
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A track change station was officially opened at the Vientiane Logistics Park on Friday, creating an official link between the Laos-China Railway and the Laos-Thailand Railway.
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Embezzlement by executives and staff, combined with poor management, are the main reasons for the chronic losses suffered by state enterprises, the Prime Minister has told the National Assembly (NA).
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The premier said changes to the quantity of vehicles, alcoholic beverages and other imported luxury items would be considered, so that shrinking foreign currency reserves could be kept for essential goods.
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Laos lawmakers on Monday approved the appointment of a new central bank chief and two deputy prime ministers
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The government’s policy for promoting EVs includes zero percent tariffs, an excise tax of only three percent and a value-added tax of seven percent in order to lower the prices of EVs
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Source: Bloomberg Laos, with dwindling cash reserves and surging inflation, is facing some of the same strains that pushed Sri
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The Lao government will aim for Gross Domestic Product (GDP) growth of at least 4.4 percent over the last six months of this year
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Two banks previously owned by the state and which suffered chronic losses have begun making a profit following major reforms that saw a 70 percent stake in the banks sold to local investors
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Expansion of the route makes Thailand a ‘China Plus One’ Option
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The move is aimed at reducing the amount of money in circulation and curbing the spiralling inflation rate, which was recorded at 9.9 percent in April.
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Mounting foreign liabilities and thin foreign exchange reserves have left the nation of 7 million acutely vulnerable to global financial shocks.
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The law will provide assurance to members of the public that their personal data will be protected and will not be used by unauthorised people.
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Pfizer Inc plans to sell its entire portfolio of brand-name drugs at cost in as many as 45 lower-income countries, including Cambodia and Laos, one of the most comprehensive and ambitious drug-access programmes ever announced by a large pharmaceutical manufacturer.
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The use of guns to commit crimes in Vientiane is becoming increasingly common, with most incidents occurring at night.
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The government says the fuel crisis will be resolved in the near future as it will provide Thai baht and US dollars to fuel importers by authorising additional foreign currency payments to oil companies so they can import more fuel.
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Lao workers are returning to Thailand where they can make more money.
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A plummeting currency, dwindling foreign reserves, and a spike in global oil prices have led to shortages across the country.
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The value of the Lao kip has dropped significantly since last year against the backdrop of volatility in the global fuel market due to the Russia-Ukraine conflict.
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Named as ‘Top Selling Agent’, J&C Insurance Brokers was recognized for their exceptional performance in 2021 – by Lanexang Assurance!
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Fuel shortages forced petrol stations in Vientiane and some provinces to close on Monday, with many of desperate motorists going from one station to another in the hope of filling up their tanks.
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The year-on-year inflation rate in Laos surged to 9.9 percent in April, the highest figure recorded since January 2016
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The government has agreed in principle to increase the minimum wage in a bid to ease the hardships suffered by many people amid the rising cost of living.
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Laos registered record two-way trade of US$1,100 million, including exports of US$600 million and imports worth approximately US$500 million, in March, resulting in a trade surplus of US$100 million.
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Payment of the tax is obligatory and people who make late payments or fail to pay at all will be fined.
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J&C Insurance Brokers is an award-winning and leading independent insurance specialist in Laos offering customer-tailored solutions.
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LoudChat, Laos’ first communication app was launched last week by the Ministry of Technology and Communications and Sirichalernxay Sole Co., Ltd.
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Under the new rules, non-resident e-commerce and digital platform providers must register for a tax identification number (TIN) via an online portal to file and pay their taxes. Further, they must register and pay value-added tax (VAT) if their annual revenue meets a certain threshold.
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The year-on-year inflation rate in Laos surged 8.5 percent in March, even more than expected, and rose to the highest figure recorded since January 2016.
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The government will consider cutting or even waiving excise tax on the price of imported oil, to reduce skyrocketing prices at petrol stations.
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Laos’ economy is projected to expand by 3.8 percent in 2022, down from the 4.5 percent growth rate predicted in October last year, and 3.3 percent in the downside scenario, according to the World Bank’s latest report.
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The government is mulling full reopening of the country to foreign tourists after piloting the first phase of partial reopening for targeted groups of visitors.
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Travelers are no longer required to provide a negative RT-PCR test within 72 hours of departure. However, the RT-PCR test requirement for the on-arrival date remains unchanged.
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The Lao Federation of Trade Unions (LFTU) has called on businesses, including garment factories, to pay workers the increased minimum wage, which rises from 1,100,000 kip to 1,500,000 kip per month this year.
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Inflation in Laos has surged higher than the projected rate for the Gross Domestic Product (GDP), sparking fears among many people regarding the impact on their living standards.
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Laos’ first perfume brand HSMM Fragrance launched two new scents – “Lady of Lao” and “Black Intense” – at the 2021 Outstanding Entrepreneurs “Made in Laos” Award ceremony held in Vientiane la
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A Labour Registration and Data Platform will be set up in Vientiane for the compilation of information concerning both Lao and foreign nationals working in Laos.
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Laos’ overall balance of payments situation is negative despite a trade surplus of US$1.32 billion in 2021 because foreign exchange inflows represent only 26.45 percent of the total export value.
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The year-on-year inflation rate jumped to 7.3 percent in February, the highest figure recorded in Laos since January 2016.
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The railway, estimated to cost US$5 billion, is a proposed line that the Lao and Vietnamese governments have agreed to jointly develop. It would enable landlocked Laos to access the deep seaport – the closest feasible seaport to Vientiane.
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The properties included the Don Chan Palace Hotel, a 5-star international hotel constructed on a swathe of land measuring almost 176,000 sq metres along the Mekong River in Laos valued at US$140 million.
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The rise in price of imported fuel means that retail prices in Laos will inevitably continue to rise.
The price of oil is factored into the cost of production, meaning that product prices will also rise.
Developers and operators of four hydroelectric power plants in Laos will sign power purchase agreements with energy policymakers in Laos and Thailand within May under a plan to promote more renewable energy.
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Lao Airlines – the national flag carrier – has decreased domestic flights to balance its revenues and expenditure.
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Imperial Tobacco has been accused of allowing a trade in cheap cigarettes in Laos through a special deal with the country’s government.
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Lao authorities will ask their Chinese counterparts to consider reopening more border crossings to allow trucks carrying goods to enter China as hundreds remain stranded at the Boten-Mohan crossing on the Laos-China border.
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Fuel prices have increased six times in a period of just two months and 10 days, sparking greater concerns about the rising cost of living in Laos.
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The government is aiming for a trade surplus of at least US$1.55 billion this year, despite the country’s economic difficulties triggered by the Covid pandemic.
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Attempts to increase the minimum wage are meeting with resistance because of the impacts on businesses caused by the Covid-19 pandemic.
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The latest melee began after a Chinese trader cleared the way for his Lao driver to cut ahead in line.
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A drug to treat Covid-19 in Laos will soon be available in the form of Molacovir, at a relatively cheap price and with guaranteed quality.
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Laos took on huge debt to become the “Battery of Southeast Asia,” but sales are not as robust as hoped.
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The Lao government has launched an online visa application portal to ease entry procedures for foreign nationals and Lao nationals living overseas.
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The year-on-year inflation rate in Laos jumped to 6.25 percent in January, the highest figure recorded since January 2020.
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The Laos-China Railway Company has announced it will operate a slower-speed train in addition to the two existing high-speed EMU trains to meet the growing needs of passengers.
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In the past 42 days, fuel prices have risen four times, causing heated debate among members of the public who are increasingly concerned about the spiralling cost of consumer goods.
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Laos recorded a trade surplus of US$41 million in the first month of this year, with China continuing to be the country’s largest export market.
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LCRC also asked the government to counter negative publicity concerning the railway as well as for assistance with other issues
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Hundreds of trucks loaded with goods are stranded at the Boten-Mohan crossing on the Laos-China border, with strict Covid screening procedures causing long delays.
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The Ministry of Industry and Commerce has authorised NTP Public Company to launch a free-of-charge fuel delivery service so that members of the public can receive the best service and cut travel costs, amid record high fuel prices.
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China topped the list of five main countries for exports with a figure of US$ 2,221 million, and the others were Thailand (US$ 2,187 million), Vietnam (US$ 1,220 million), Australia (US$ 348 million), and Switzerland (US$ 116 million).
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Some women who could not pay off debts they owed to their employers were forced into prostitution.
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