Lao Prime Minister Moves To Stop Land-for-Capital Deals

Prime Minister Thongloun Sisoulith says he wants to end the Lao government’s policy of bartering land for development, in a reversal of a long-term practice that has seen large swaths of the country go to foreign-backed investors.
“The business sector should not convince the governmental sector to create debts for the nation,” Thongloun told the Lao version of the chamber of commerce earlier this month. “In recent years, many big development projects, including ….

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Revised Govt Plan To See Bigger Budget Deficit

The government’s proposal to revise the next four-year budget plan (2017-2020) will see the budget deficit increase to 4.39 percent of gross domestic product (GDP), up by 0.32 percent compared to the four-year plan approved earlier by the National Assembly (NA).
Deputy Prime Minister and Finance Minister Somdy Duangdy presented the proposed plan to the ….

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PM Thongloun: ASEAN To Become World’s No. 4 Economy By 2030

A new economic order will emerge by 2030, with Southeast Asia taking on a central role, Laotian Prime Minister Thongloun Sisoulith told business leaders in his nation’s capital on Monday.
“Studies have shown that the ASEAN economy is expected to grow at 7% per annum, with a GDP reaching $4.7 trillion in 2020, and the possibility of becoming the fourth-largest economy in the world by 2030,” Thongloun said in his …..

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More Than A Thousand Furniture Plants Ordered To Shut Down

The government has ordered some 1,154 family-unit furniture plants across the country to shut down their illegal operations, a government spokesman announced yesterday.
Additionally, more than 20 wood processing plants located in or near conservation and protected forests areas were also ordered to close down.
The order was approved at …..

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