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Category Archives: Lao Economy
Prime Minister Thongloun Sisoulith on Tuesday handed in his BMW 7 Series, following up on a promise made by the country’s leaders that they will no longer drive expensive luxury vehicles in an attempt to exercise frugality.
President Bounnhang Vorachit, who is Secretary General of the Lao People’s Revolutionary Party, was also expected to give back his BMW 7 Series yesterday, an official at the …. Continue reading
The electricity supply in various special and specific economic zones has been stable, enabling factories to operate smoothly, a minister has said.
Minister of Energy and Mines Dr. Khammany Inthilath outlined the situation to local media recently. He admitted that foreign investors, notably Japanese and Korean companies who were considering shifting their production bases to Laos, had inquired about …. Continue reading
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
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
Asia’s smallest economies are growing faster than giants like China, according to the World Bank.
Laos, Cambodia and Myanmar will post the most rapid expansions in Asia after India from 2017 to 2019, sustaining growth rates of close to 7 percent, according to forecasts released this week. Among the least developed countries, the combined size of the three economies is less than $100 billion, about a third of ….. Continue reading
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