Category Archives: Lao Economy

GDP Expected To Grow At 6.8 Percent: IMF

GDP expected to grow at 6.8 percent: IMF

The International Monetary Fund (IMF) has predicted that Laos’ Gross Domestic Product (GDP) will grow at 6.8 percent this year, less than the government’s projected rate of 7 percent.
The IMF Executive Board concluded the Article IV consultation [1] with Laos recently, describing Laos’ challenges in dealing with the current account deficit, falling foreign currency reserves, and growing …. Continue reading

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Govt Gives Green Light To Vientiane Expressway

Govt gives green light to Vientiane expressway

The government has agreed in principle to a plan to build a 14-km expressway linking Vientiane city centre to the outskirts in Xaythany district, in a bid to ease congestion.
The project was agreed to at the government’s monthly meeting for February held last week at the Prime Minister’s Office when the concept of the multimillion US dollar project was presented and discussed …. Continue reading

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Economists Concerned About Increase In Non-Performing Loans

Economists Concerned About Increase In Non-Performing Loans

Economists have expressed concern over non-performing loans (NPL) that banks have given to the private sector.
Bankers said NPLs are currently higher than the rate of 3 percent set by the Bank of the Lao PDR, which could have negative impacts on financial and economic stability.
A senior banker who asked not to be named said the rising NPL rate is linked to …. Continue reading

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Laos Must Broaden Tax Base, Strengthen Administration: IMF

Laos Must Broaden Tax Base, Strengthen Administration: IMF

Laos should increase its revenues by broadening the tax base, reducing exemptions, and strengthening tax administration, the International Monetary Fund (IMF) said in its Article IV Report for the country.
The IMF said the country’s authorities have taken some important measures recently, including improving the … Continue reading

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PM Stresses Land As Focus For Transport Development

PM Stresses Land As Focus For Transport Development

Prime Minister Thongloun Sisoulith has stressed for land to be the main focus of transportation development in the country, calling for careful decisions on every water and air transportation project.
He praised the sector for their achievements made over the past forty years or more, which he says has seen huge differences in infrastructure development in comparison to the time …. Continue reading

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High Cost of Living Remains a Challenge for Tourism Industry in Laos

High Cost of Living Remains a Challenge for Tourism Industry in Laos

The high cost of living remains a significant challenge for the tourism industry in Laos as spending for basic services such as taxis, food, and accommodation is higher than in neighboring countries.
Slow service is among the downsides of the tourism sector in Laos.
“The tourism sector in Laos should develop …. Continue reading

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