Over 1 trillion kip was siphoned off last year in the implementation of development projects through the violation of laws and financial disciplines by government bodies and the private sector.Read more
Laos has to strengthen the rule of law if it wants to become a competitive investment destination, according to a report from the World Bank.
“The country (Laos) faces issues that include weak regulatory effectiveness, control of corruption and rule of law,” the 2018-Doing Business in the Lao PDR report highlighted in its key findings.
Many business people and ordinary savers still deposit money in foreign currencies despite increased efforts by the Bank of the Lao PDR to promote the use of the national currency, according to data from the central bank.Read more
The Lao National Statistics Bureau said inflation remains low in the country despite rising cost of living.Read more
Vientiane authorities have warned 3,039 enterprises to pay taxes and declare their business plans, with the threat of closure hanging over them if they fail to comply.Read more
Lao enterprises have highlighted the perceived unprofessional practices of firms in the informal sector and high tax rates as the top constraints in investing in the country, according to a report from the World Bank.Read more