Laos Faces Spiralling Budget Deficit
The escalating deficit will ramp up the government’s public debt burden, posing challenges for Laos in sourcing more funding to address the shortfall.
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Finance – Banking – Money
BOL To Take Urgent Action On Differences In Exchange Rates
The Bank of the Lao PDR (BOL) is now working to tackle several unresolved issues related to financial matters, including differences between the exchange rates in the market and banks.
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Laos Issues E-commerce Regulations
Laos is making strides toward providing clear legal guidance for e-commerce operations by issuing legal measures to facilitate the regulation of online business activities.
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Can China’s Belt and Road Open Up Landlocked Laos?
As a 420 km high-speed railway nears completion, two Chinese-built highways have been given the green light. Will these projects open up Laos, or make it a crossing point on China’s Belt and Road?
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Once Asia’s Top Performer, The Thai Baht Is Now Becoming The Region’s Worst-Hit Currency
The Thai baht, once the strongest-performing currency in Asia before the pandemic, has been steadily falling in 2021 and is this year’s worst-hit currency in the region
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J&C Insurance Brokers To Provide Contractor’s All Risk Insurance For The New Korean Embassy!
The Korean government through Samwhan Lao Sole Co., Ltd trusts the professionalism and the high-end services provided by J&C Insurance Brokers.
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Laos Records US$932 Million Trade Value In June
Laos saw a record US$932 million in the value of imports and exports for June, but recorded a trade deficit of US$62 million
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More Workers Needed For Lao Garment Industry
The garment industry in Laos requires more workers, both skilled and unskilled, with almost all garment factories in Vientiane now reopening as lockdown restrictions are lifted.
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LCB’s Depositors To Be Repaid
Officials of the Bank of Lao PDR (BOL) have confirmed that customers or depositors of the Lao Construction Bank Limited (LCB) will be repaid once data of the bank’s depositors are provided.
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Covid Restrictions Extended, Some Lifted To Ease Economic Impacts
The surge in imported cases of Covid-19 has prompted the government to extend the virus control measures outlined in Prime Ministerial Order No. 15 for another 15 days until August 3.
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Nam Theun 2 Shareholders, Govt Partner In World’s Largest Hybrid Floating Solar Project
The government and shareholders in the Nam Theun 2 hydropower plant have agreed to develop Nam Theun 2-Solar, the largest hybrid floating solar project in the world.
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Govt Extends Ban On Imported Cattle, Beef Products
The government has extended the ban on the import of cattle and other beef products due to an outbreak of lumpy skin disease, which is continuing to spread in various areas of the country.
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Laos, Russia Agree To Cement Ties, Broaden Cooperation
Lao and Russian foreign ministers have agreed that both sides will work together to cement ties and broaden cooperation between their two countries.
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Covid Taskforce Orders Use Of Track And Trace QR Code
People living in Laos and entering the country will be required to install the LaoKYC programme on their smartphones so they can use the Lao Sou Sou service to scan a QR code.
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Laos To Sell Vietnam Its Wind Power With Mitsubishi’s Help
Japanese trading conglomerate Mitsubishi Corp. will develop a massive onshore wind farm in Laos that will supply electricity to Vietnam.
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First Laos Green Coffee Competition is Underway
The first green coffee competition ever to take place in the Lao People’s Democratic Republic is underway, part of a broad multi-stakeholder effort to boost the country’s agricultural sector and forge international market connections.
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Laos Grapples With Rising Inflation
The consumer price index has continued to surge despite measures imposed by the government to manage the prices of goods in local markets.
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Govt Approves Bokeo-Boten Expressway Linking China, Thailand
The government has approved the construction of an expressway running between Bokeo province and Boten, which will link China and Thailand through Laos.
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Laos’ trade deficit exceeds US$54 million in May
China is the largest market for Lao exports, while Thailand remains one of Laos’ main importing countries with imports reaching a record value of US$227 million in May.
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Lao Airlines Announces Changes To Domestic Flight Schedule
Lao Airlines has announced that flights to several domestic destinations will resume on June 27 and July 2, after being initially planned for June 25.
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First Train Test On Laos-China Railway Planned For August
The first trial run of a train on the under-construction Laos-China railway is scheduled to take place in August.
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Laos Voices Appreciation Of Asia-Europe Partnership
Laos values the Asia-Europe Partnership as an important forum for promoting cooperation and understanding between the peoples of the two regions.
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Laos Sets Out Rules for Securing Investment Promotion Incentives
Laos has issued important new guidelines on obtaining investment promotion incentives in the country.
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State, Private Sectors Set Up Joint Venture Dry Port Company To Develop Lao Logistics
A joint venture agreement was signed in Vientiane on June 10 to establish Thakhek Dry Port Co Ltd, which will develop “Thakhek Dry Port” as a gateway for international goods and encourage Laos to become a regional and international logistics service centre.
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Coffee Set To Boost Laos-EU trade
The value of coffee sold by Laos to the European (EU) market is likely to increase thanks to additional EU support for the trade.
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Laos Govt Approves Vientiane-Pakse Expressway Route Selection
The Lao government has recently approved the route selection for Vientiane-Pakse Expressway Project recommended by a Chinese engineering company.
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Ministry Issues New Guidance To Tackle Corruption, Bureaucratic Malpractices
Authorities have issued a new guidance to prevent officials in-charge of natural resources and environment affairs from committing corruption and bureaucratic malpractices.
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Ministry Asks Telecom Operators To Cut Charges, Increase Internet Speed
Telecom operators plan to cut the charges for voice calls by 15 percent, as well as increase internet speeds, so that people can study online and work from home more easily during the Covid-19 outbreak.
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Finance Ministry Suspends & Waives Tax Payments
The Ministry of Finance, on behalf of the government, has issued an instruction on the suspension and waiver of income tax payments as well as postponement of the payment of the annual road tax for 2021.
Read more Hopes Rise For End To Lockdown As Covid Cases Dwindle
Lao people are hoping that the government will be able to control the spread of Covid-19 after only one new case of the virus was reported on Monday.
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Vientiane-Pakxe Expressway Awaiting Govt Approval
Construction of the Vientiane-Pakxe expressway will go ahead after the government gives the green light for the proposed route, when feasibility studies on all sections of the highway will begin.
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Govt Tightens Travel Restrictions In Red Zones
The Ministry of Health has instructed authorities in 18 provinces to classify areas of Covid-19 outbreak into colour-coded zones as part of efforts to control the spread of the virus.
Read more Covid-19 Rules Updated, Some Strengthened, Others Eased
The government has intensified Covid-19 prevention and control restrictions, while easing some where appropriate, as it extends measures to contain the outbreak for another 15 days until June 4.
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Govt Confirms Stable Food Supplies During Pandemic
The government has said there is a sufficient supply of foodstuffs and consumer products for at least two months despite delays in transport caused by the Covid-19 pandemic.
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Korea Airports Corporation To Enter Korea’s First Airport Development Project In Laos
The Ministry of Planning and Investment of Laos selected Korea Airports Corporation as a feasibility study provider for the Luang Prabang airport development project.
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J&C Group Supporting The Community
J&C Group provided the village administration of Saphanthong Tai with 25 rice bags in the value of LAK 10’000’000
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J&C Insurance Brokers’ New Website Is Live!
J&C Insurance Brokers, the leading insurance broker in Laos, has launched a new website to drive the company’s objectives of innovation and professionalism.
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Unemployment Spirals Due To Covid-19 Outbreak
The unemployment rate has increased sharply since the end of 2020 amid measures imposed to prevent the spread of the virus.
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Factories Can Continue Operations During Lockdown
Factories are permitted to continue their operations so long as they strictly comply with Covid-19 prevention and control measures, a senior government official has said.
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90 Percent Of Tourism Businesses Close Due To Covid Outbreak
The hospitality industry in Laos is facing a further slump as a result of the ongoing outbreak of Covid-19 with about 90 percent of businesses forced to close their doors.
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Authorities Mull Policies To Ease Impacts Of Covid-19
A number of policies are being considered to mitigate the effects of the ongoing Covid-19 outbreak on the economy and people’s livelihoods.
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Inflation Continues To Rise Amid Covid-19 Crisis
The year-on-year inflation rate continued to rise in Laos in March amid economic distress triggered by the Covid-19 pandemic.
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ADB Positive About Growth Of Lao Economy Despite Covid-19 Crisis
The Asian Development Bank (ADB) is optimistic about the growth of the Lao economy amid the Covid-19 crisis and lockdown measures imposed to contain the spread of the Coronavirus.
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Laos Now Perceived To Be The Third Most Corrupt Country In The Asean Bloc In 2020, Says Transparency International
Laos is now also the third most corrupt country in the Asean bloc, following Myanmar and Cambodia.
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Railways To Help Laos’ Businesses Blossom
Once opened, the Laos-China Railway promises to be a significant engine of business development in Laos.
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Laos Enjoys US$42 Million Trade Surplus In February
Laos recorded a trade surplus of US$42 million in February even though the value of goods sold to the country’s two main trading partners, China and Vietnam, dropped compared to January.
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Power Supply For Laos-China Railway Completed
The Laos-China Railway Power Supply Project has been completed on schedule, paving the way for the planned operation of the railway in December.
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Handicraft Designers Pledge To Protect Traditional Designs
Better knowledge of copyright and trademarks has become necessary in the traditional handicraft industry.
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Laos Must Speed Up Reform To Maximise Benefits Of Railway: World Bank
In order to maximise benefits from the rail project, Laos must quickly create a business friendly environment.
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Lao Govt To Address Seven Urgent Issues To Spur Development
Newly-elected Prime Minister Phankham Viphavanh highlighted the seven concerns
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Inflation Down But Cost Of Living Remains High
The Consumer Price Index (CPI) stood at 113.61 points in February, indicating an inflation rate of 1.91 percent year-on-year, down from the 2.01 percent recorded in January
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Thai Economy Unlikely To Bounce Back
The Thai economy in 2021 will not rebound from a negative growth of 6.1% last year and could risk facing a financial crisis like in 1997″
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Laos Grants 25-Year Power Grid Concession To Chinese-Majority Firm
The deal will deepen China’s involvement in the Lao government’s goal of transforming itself into the “battery of Southeast Asia.”
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New Mahosot Hospital Set For Completion In May 2022
Construction has been delayed due to the Covid-19 pandemic after work began in November 2018.
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J&C Insurance Brokers Awarded Agent Of The Year 2020
Once again rewarded as ‘Agent of the Year’, J&C Insurance Brokers was in 2020 performing at the highest level thanks to the support of the APA Insurance’ products!
Read more Unemployment Spirals To 23.4 Percent Amid Covid-19 Pandemic
Unemployment in Laos has skyrocketed to 23.4 percent, indicating that about 320,000 people are out of work
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Chinese Investment in Laos Sparks Chinese-Language Learning Boom
A Chinese language education boom is underway in Laos as Beijing’s increasing investments in the Southeast Asian country point to a future where Chinese companies dominate local commerce
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Luang Prabang To Lead The Way In Digital Transformation
Luang Prabang province has begun the first steps in becoming a Smart City through the creation of e-government practices.
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J&C Insurance Brokers Awarded Top Agent of Forte-Toko Assurance 2020
During the recent annual agent/broker celebration held by Forte-Toko Assurance, J&C Insurance Brokers was rewarded as Top Agent 2020.
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Micro-Businesses Dominate Laos’ Enterprises
Laos, as a least developed country, is still largely dominated by microbusinesses, which account for 94.2 percent of all enterprises in the country
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Ministry Seeks Changes To Expressway Toll, Currency Exchange Rates
The Investment Promotion Department of the Ministry of Planning and Investment has advised the Laos-China Joint Expressway Development Co., Ltd. to revise the toll rate currently charged for pick-up trucks and also the dollar-kip exchange rate
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Xekong To Open First Int’l Border Crossing With Vietnam
Xekong province will open its first international border crossing with Vietnam next month to ease the movement of goods and people between the two countries.
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J&C Insurance Brokers Awarded Top Agent and Strategic Partner 2020
Awarded as the ‘Top Agent for Health Insurance’, J&C Insurance Brokers was recognized for their exceptional performance in 2020 – by Lanexang Assurance!
Read more Laos Planned Railways: Opening a National Rail Network in 2021
At present, Laos doesn’t have any railways. However, that is about to change in 2021.
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Pepsi Names Famous K-Pop Girl Group ‘BLACKPINK’ As New Asia-Pacific Brand Ambassadors
The world’s popular soft drink Pepsi, a trend-setter of youth fashion and culture, announced superstar K-Pop girl group BLACKPINK as its new Asia-Pacific spokespersons
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Laos To Earn Revenue From Sale Of Carbon Credit Next Year
The government expects to earn its first income from the sale of carbon credit next year after signing an agreement with the World Bank.
Read more Lao Airlines’ Earnings Nosedive By 70 Percent In 2020
Lao Airlines’ earnings plummeted by 70 percent last year compared to 2019 as result of a sharp drop in passenger numbers due to the Covid-19 pandemic.
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Lao Economy Set to Recover If Threats Can Be Contained
While economic growth in the Lao PDR contracted in 2020 for the first time in over two decades, the economy is set to recover in 2021 and in the medium term, provided the impact of the COVID-19 pandemic is contained and business can resume with trading partners
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Unemployment In Laos Soared By 20 Percent In 2020
The unemployment rate in Laos skyrocketed to 20 percent in 2020, a 10.6 percent increase compared to the figures for 2017, and the global Covid-19 outbreak was the main factor for the sharp increase in the number of jobless in the country.
Read more Inflation Rises In Laos In December
The Consumer Price Index (CPI) in Laos continues to rise despite the government’s enhanced measures to control the prices of products in local markets.
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Bangchak Corporation (BCP) Adds Coffee Shops In Laos, Cambodia
Inthanin Coffee claims to be environmentally friendly, with a total of 690 outlets in Thailand and eight overseas. The business is run by BCP’s wholly-owned Bangchak Retail Co.
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Visitor Adventure Park Planned For Phou Bia Mountain
The developers expect to spend more than US$47 million to create tourism activities alongside environmental conservation measures undertaken by the Khamphay Sana Group.
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Lao Postal Enterprise Partners With Chinese Express Delivery Operator
Laos’ state-owned postal enterprise is looking forward to working with its newly-signed partner, ZTO Express, a China-based provider of services including express delivery, logistics and e-commerce, to upgrade the skills of IT personnel as well as build capacity in other areas.
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Vientiane City Authorities Plan To Introduce Smart Zones
Several areas of Vientiane have been designated for development as “smart zones” through the use of Information, Communication and Technology (ICT) in the development of the capital.
Read more Expressway Operator Clarifies Toll Charges
All vehicles using the newly-opened Vientiane-Vangvieng expressway must pay the set toll rates, except in the case of an emergency or accident, when specially designated ambulances can enter free or charge.
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China-Laos Railway Tracks Laid To Luang Prabang, Achieving Yearly Goals
The China-Laos railway tracks have successfully extended from Lao capital Vientiane to northern Laos’ transport hub Luang Prabang on Tuesday, thus accomplishing all the construction targets set at the beginning of 2020.
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Vientiane City Authorities Plan 30 Large-Scale Development Projects
Vientiane authorities have pledged to carry out 30 large-scale development projects from now until 2025 in a bid to accelerate the capital’s economic growth.
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Audit And Compliance In Laos: A Guide For Foreign Investors
The Enterprise law and the Law on Independent Audit are the main laws that establish audit requirements in Laos.
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Laos Introduces Corporate Criminal Liability
Not only natural persons (individuals) but also legal persons, such as companies, NGOs, associations, and foundations operating in the Lao PDR, now face criminal liability under new legislation enacted by the government aimed at strengthening the rule of law in the country.
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Vientiane-Vangvieng Expressway Officially Open For Motorists
Motorists will now have the convenience of travelling from Vientiane to Vangvieng in an hour following the opening of a new expressway linking the capital to the popular tourist destination on Sunday.
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Govt, Private Sector Mull Use Of Electric Vehicles
The government and private sector are partnering to promote the development of electric vehicles to encourage the use of clean energy and reduce greenhouse gas emissions.
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Inflation Trending Downwards But Still High
The Consumer Price Index (CPI) has dipped in recent months after inflation peaked at 6.94 percent in January.
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“Made in Laos 2020” To Promote Economic Recovery After Covid-19 Crisis
The upcoming Made in Laos 2020 fair, to be held at Lao-ITECC in Vientiane from December 25 to January 3 next year, will be used as a platform to spur domestic consumption and to promote a range of “Made in Laos” goods.
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Laos’ Banks Linked For Money Transfers Via Mobile App
Customers of many banks in Laos will now be able to transfer money via a mobile application managed by the joint venture Lao National Payment Network Co Ltd (LAPNet) under the Bank of the Lao PDR (BOL).
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Opening Of Vientiane-Vangvieng Expressway Delayed
Authorities have postponed the opening of the 113.50-km expressway linking Vientiane and Vangvieng as work on the project is not yet fully complete.
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New Streetlights Brighten Vientiane For National Day
New streetlights along seven main roads in the capital have given the city a bright new feel amid preparations to celebrate National Day on Wednesday.
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Laos Records US$729 Million In Imports, Exports For October
Laos reported a record US$729 million in imports and exports in October this year, with the value of exports put at US$347 million and the value of import calculated at US$382 million.
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Lao Govt Explains Main Reasons For Rising Debt Burden
The government has cited five reasons for its spiralling public debt over the past five years, which is continuing even though measures have been introduced to address it.
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Can Lao Move To A Digital Economy?
The Fourth Industrial Revolution is a train that you either get on or you’ll find yourself being left far, far behind.
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Laos, Asia-Pacific Sign World’s Biggest Trade Deal
RCEP includes China, Japan, South Korea, Australia, New Zealand and the 10 members of the Association of South East Asian Nations (ASEAN)
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J&C Insurance To Provide Property And Personal Accident Insurance For Tukata Day-Care Centers
The Personal Accident coverage is applicable to all children on their premises. With the skilled staff at Tukata and our comprehensive coverage in case of accident, your child is safe at all times.
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Lao Govt Confident Of Economic Recovery Next Year
The government is optimistic that the economy will grow by 4-4.5 percent next year despite complex global changes and Laos’ financial difficulties.
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Coming soon! The banlao.la Homes, Loans & Lifestyle EXPO – December 4, 5, 6 2020
The banlao.la Homes, Loans, and Lifestyle Expo will see 100+ companies under one roof at the NCC in Vientiane Capital and is set to welcome 10,000+ guests from across Laos, the ASEAN region, and Mainland China
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Shopping-D – Your Personal Concierge For Groceries
Shopping-D online grocery has over 6.000 items starting from fruits, vegetables, fresh meat, cleaning products and other items for your daily needs. Try – you will love it.
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Lao Govt Vows To Smooth The Path For Investors
The Lao government has pledged to remove barriers and further improve the business climate in a bid to attract more investment from Laos and foreign countries.
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Pandemic Has Set Revenue Collection Back Three Years
The impact of the coronavirus on the economy has driven revenue collection back by three years, the deputy prime minister has told the National Assembly
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China-Laos Railway Lays 1st Section Of Electrical High-Voltage Power Cable
The first section of electrical high-voltage power cable for China-Laos Railway has been successfully laid in position.
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Lao Government Outlines Plans To Tackle Debt Issue
The Lao government has announced that it will manage and address public debt in various ways as it seeks to ease the country’s financial tensions.
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Laos Set Its Own Debt Trap
‘Inadequate’ foreign exchange reserves, a widening current account deficit, contingent liabilities from public–private partnerships, poor governance — including weak institutional capacity and corruption controls — and constrained political freedoms that limit accountability have all contributed
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Govt Reopens Local Border Crossings To Facilitate Business
The government is temporarily reopening some “local” and “customary” border crossings in a bid to revive the economy and minimise the impacts of the Covid-19 pandemic.
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Laos To Launch Fast-Track Immigration Service For China Soon
Incomers are expected to spend a shorter time in quarantine; Authorities are also considering the use of electronic tracking devices
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IMF Downgrades Laos’ Economic Growth To 0.2 Percent
The lower growth rate is attributed to several factors linked to the global economic slump, triggered by the Covid-19 pandemic.
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Economic Issues Top Agenda At Upcoming NA Session
The economy will feature as one of the main topics of debate at the 10th Session of the National Assembly (NA)’s 8th legislature, which starts next week.
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Stakeholders Discuss Establishment Of Consumer Protection Association
Stakeholders from the public and private sectors as well as civil society met in Vientiane to discuss and exchange views on the establishment of a consumer protection association.
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COVID Taskforce Details Procedures For Entry Into Laos
Upon arrival in Laos, incomers will be tested for Covid-19 and will be quarantined at a designated location for 48 hours while they await the test results.
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BOL To Transform IT Infrastructure System
The Bank of the Lao PDR (BOL) is upgrading its IT infrastructure system to ensure financial transaction services throughout the country.
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China Announces Further Support For Laos
China has agreed to support Laos through three projects as part of efforts to strengthen cooperative relations between the two countries.
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Fluctuating Exchange Rate Increases Pressure On Lao Economy
Many firms are effectively conducting business and basing their pricing on foreign currencies sold in the parallel market
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Projected Revenue Shortfall Adds To Nation’s Debt Burden
Laos is undergoing an unprecedented level of macroeconomic stress and the pandemic has worsened an already fragile economic landscape.
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Laos Records US$762 Million Trade Value For August
Laos recorded a total trade value of US$762 million for imports and exports in August 2020, comprising US$377 million worth of exports while about US$384 million was expended on imported goods
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COVID-19 Pandemic Severely Impacts Lao Economy: ADB
Although Laos was able to dodge severe health impacts from the COVID-19 pandemic, the effect on the country’s economy, particularly on the tourism sector, is being projected to be devastating.
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Inflation Surges In August
The price of food and beverages increased by 9.91 percent year-on-year and 2.19 percent month-on-month
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Laos Credit Downgrade Signals ‘Real’ Default Risk As China Looms
Fitch Ratings has downgraded Laos’ rating to “CCC” from “B-,” meaning that the Southeast Asian nation faces “substantial credit risk” and that default is a “real possibility,”
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How Fast Is the Gaming Market in SE Asia Growing?
Source: Laos News Gaming has grown immensely in popularity since the turn of the century, but how fast is it
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Business Operators Urge Cut In Transportation Costs
The business sector has requested the government find ways to reduce transportation and customs clearance costs to ensure that the collection of fees is done strictly under the Lao President’s Decree.
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Laos-China Railway On Track Despite Covid-19 Pandemic
Construction of the Laos-China railway is progressing as planned despite the obstacles posed by the Covid-19 pandemic.
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Laos The Latest China Debt Trap Victim
Laos set to cede majority control of its national power grid to China to service Belt and Road debts
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Lao Govt Partners With Hi-tech Company In Land Surveys
Lao Govt and Space Eye Lao Co., Ltd. (Spel) will partner in the study and development of a modern land management system in Laos using digital technology.
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Lane Xang Minerals Resumes Operation At Sepon Mine
The primary gold project is expected to generate about US$30 million in government revenue and economic benefits
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EDL, CSG Sign Agreement To Establish Transmission Line Firm
EDLT plans to invest about US$2 billion in building Laos’ national backbone power grid and cross-border power grid interconnection for Laos and its neighbouring countries
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Laos Faces Sovereign Default As Forex Reserves Dip Below $1bn
The country’s foreign exchange reserves have fallen below $1bn, less than Laos’ annual debt payments
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Laos To Lose Favourable Trading Status After LDC Graduation
Laos could face a trade loss of US$102 million under the special tariff scheme if the country graduates from the UN’s Least Developed Country (LDC) status in 2024
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Lao Telecom Officially Launches 5G System
Lao Telecommunications Public Company (Lao Telecom) has officially launched the 5G system, which is the first network in Laos.
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7-Eleven Signs Agreement with CP ALL to Operate 7-Eleven Stores in Laos
The first 7-Eleven-branded convenience store in Laos is expected to be open in Vientiane
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Laos To Lose US$483mil In Export Revenue Over COVID-19
The country is still facing a huge trade deficit
Read more Inflation In Laos Remains Sore Point For The Poor
The Consumer Price Index (CPI) remains high in Laos despite the government increasing measures to curb rising prices at Lao markets.
Read more Garment Makers To Focus On Domestic Market As Foreign Orders Slump
The Lao garment industry is in a slump following a significant drop in orders from foreign countries due to the Covid-19 pandemic and must now rely on the domestic market to sustain its long-time workforce.
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Foreigners Permitted To Purchase Limited Ownership Of Land-Use Rights – Amended Lao Land Law
Today sees the entry into force of the new Law on Land No. 70/NA dated 21 June 2019 (the “2019 Land Law”), which among other things, includes new provisions concerning the limited ownership of land-use rights by foreigners under certain circumstances, and the limited ownership of individual units in a condominium or apartment building.
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Land Disputes Remain A Challenge For Vientiane Authorities
Land disputes have become one of the most difficult issues for authorities in the national capital because of growing demand for land
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Cabinet Instructs Business-Friendly Policy Improvements, Tightening Of Border Crossings
Chaired by Prime Minister Thongloun Sisoulith, the two-day meeting told officials in charge to improve policies to promote small and medium enterprises (SMEs).
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Fiscal Deficit Ramps Up Pressures On Lao Government
An elevated fiscal deficit will result in growing public debt, which will ramp up pressure on the country’s debt servicing capacity amid the Covid-19 crisis.
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Vinamilk Poured An Additional $ 41 Million Into The Dairy Project In Laos
Vinamilk’s investment capital in Lao-Jagro has increased from 25.4 million USD to 66.4 million USD. Additional capital increased to build the first two farms in the complex of high-tech dairy farms in Laos.
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Moody’s Downgrades Laos’s Rating To Caa2, Outlook Changed To Negative
Moody’s Investors Service (“Moody’s”) has downgraded the Government of Laos’s issuer rating to Caa2 from B3 and changed the outlook to negative.
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Govt, GIZ Launch Project To Promote SMEs
The project will focus on Promotion of Strengthening Regional Structures for Small and Medium Enterprise Promotion in Asean.
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Inflation Rises In Laos Amidst Covid Pandemic
The inflation rate is increasing in Laos despite the government’s measures to regulate the prices of goods in the local markets.
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Top 3 Expos Of Laos Postponed To 2021 Due To Covid-19 Crisis
The organisers of the top three expos of Laos have announced that LaoBuild 2020, Lao Food & Hotel 2020 and LaoCafe 2020 have been rescheduled to June 17-19, 2021 in line with the government’s Covid-19-related restrictions.
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Laos To Lose Millions Of Dollars Remitted By Workers Due To Covid-19 Crisis
Laos expects to lose millions dollars in remittances from overseas workers this year following the return of thousands of Lao citizens to the country due to the Covid-19 pandemic.
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Laos Toughens Anti-Money Laundering Measures
Source: Vientiane Times The National Committee for anti-money laundering (AML) and counter-terrorism financing (CTF) has reviewed the progress of preparations
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J&C Insurance To Provide Property Insurance For Villa Maydou And Maison Houng Chanh In Luang Prabang
The Villa Maydou Boutique Hotel is one of the most charming residences in Luang Prabang, where you can enjoy a traditional Laotian atmosphere.
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Lao Brewery Park Renovation Grants For Vientiane Hit 3.4 Billion Kip
Source: Vientiane Times Lao Brewery Co. Ltd has granted 3.4 billion kip combined to renovation projects for Chao Fa Ngum
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Vientiane Architecture & Housing over the years… (p1)
Mr. Somphonsack Phayouphorn is a Swiss-Lao architect living in Vientiane. Born in Luang Prabang, he grew up and studied architecture,
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Gold Prices Rise Further Amid Covid-19 Pandemic
Gold jewellery prices in Laos on Wednesday were almost 8.8 million kip per baht-weight (15 grams) and 2.2 million kip a sleung (3.75 grams)
Read more Lao Airlines To Resume Flights On Vientiane-Hanoi Route
State-run Lao Airlines plans to soon resume its international service from Vientiane to Hanoi in Vietnam, with two flights a week on Mondays and Fridays.
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Private Hospital Project In Need Of Foreign Skilled Workers
The Covid-19 crisis resulted in an indefinite delay for the project to build the largest private hospital in Laos.
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Lao Central Bank Imposes New Regulation For Currency Exchanges
The Bank of the Lao PDR has come up with a new administrative rule designed to administer currency exchange businesses amid the appreciation of international currencies against the Lao kip.
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COVID-19: Will AirAsia Be The Next Airline To Fold?
Auditors Ernst & Young noted the “existence of material uncertainties that may cast significant doubt on the group’s and the company’s ability to continue as a going concern.”
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Nearly One-Third Of Tourism-Related Businesses ‘May Shut Down Permanently’: Thailand
The Tourism Council of Thailand estimates that in the next three months up to 30 per cent of tourism-related businesses in Thailand are at risk of shutting down permanently
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Processing Factories Struggle To Stay Afloat
Many manufacturers in Laos are facing challenges to stay afloat even as the government has given them the nod to resume business.
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Laos Suffering From Limited Sources Of Foreign Currency
Source: Vientiane Times Laos needs at least US$4 billion in foreign currencies to purchase goods from other countries each year,
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Laos: Decision On Trademark Registration Process
The Decision brings clarity to certain important provisions of the Amended Law on Intellectual Property No. 38/NA, published in May 2018.
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Laos To Establish Centre For Food Quality
Source: The Star Laos will establish the National Center for the Quality Inspection of Foodstuff and Beverage to ensure the
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Lao Govt Relaxes COVID-19 Prevention Measures
Sports competitions, casinos, and some social gatherings will be allowed to resume under the government’s decision to relax the COVID-19 prevention measures
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Despite Recent Denials, NokScoot Is Closing Down
The Covid-19 pandemic has claimed another victim – regional budget airline NokScoot is closing down.
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PRI·MED Medical Products Announces New Medical PPE Manufacturing Facility in Laos
PRI·MED Medical Products (PRI·MED), a worldwide leader in manufacturing single-use medical personal protective equipment (PPE) including face masks, gowns and examination gloves – has today announced the development of a new manufacturing facility in Vientiane, Laos
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One-Stop Service ‘Still Can’t Be Implemented’: DPM
The one-stop service introduced by the government to enable the completion of service procedures at one location is still not implemented effectively
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No Chance Of Vietnam Resuming International Flights In July: Experts
Vietnamese carriers’ plans to resume international flights next month will come to naught, given fresh Covid-19 outbreaks in Asia and other factors, experts say.
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Phone Users Need To Re-Register SIM Cards
The Ministry of Post and Telecommunications has issued a notice urging phone users to re-register phone and internet SIM cards from Jul 1, 2020.
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Laos’ Revenues From Coffee Rise Despite Reduction In Plantations
The value of coffee exported by Laos increased as the price of local coffee beans was better this year
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International Flights To Thailand Won’t Resume Until September, Says Aviation Authority
Thailand Civil Aviation Authority (CAAT) has said it will be September before international flights to and from the country resume.
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More Restaurants Resume Services, Some Remain Closed
Several restaurants in Vientiane and tourist destinations across Laos continue to be closed after suspending operations several months ago due to the Covid-19 crisis, and some operators are now seeking new ways to earn a living.
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Importers, Exporters Face Further Trade Barriers
Importers and exporters in Laos are grappling with several challenges despite the government’s active efforts to reduce procedures and trade barriers.
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Laos Has Avoided A Major Health Crisis, Yet To Be Immune To Global Economic Downturn
The Lao PDR has so far avoided a major health crisis but has not been immune from the global economic downturn as the COVID-19-induced economic recession has affected the country through multiple channels including tourism, trade, investment, commodity prices, exchange rates, and lower remittances.
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Vientiane-Vangvieng Expressway Over 70 percent Complete
Source: Vientiane Times Construction of a 113.50-km expressway linking Vientiane and Vangvieng is now over 70 percent complete and authorities
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Lao Employment Law During The COVID-19 Pandemic
We address the human resources challenges facing employers in Laos and answer the challenging questions relating to the workplace within Laos’ labour law framework and COVID-19-specific regulations and guidance
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Singapore Firm To Build US$1.7 billion Coal Power Plant In Laos
Laos has approved a Singapore energy firm’s plan to build a 1,000 MW coal-fired power plant in the southern province of Sekong.
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Real Estate Market Expected To Drop Sharply This Year
The real estate market in Laos is expected to decline by 15 percent to 20 percent this year because of the impact of the Covid-19 pandemic and a continuing economic slowdown.
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Labour Ministry Orders Businesses To Pay Workers Amid Virus Outbreak
The Ministry of Labour and Social Welfare has instructed businesses in the production and service sectors to respect the Law on Labour, related laws, and regulations on the payment of workers affected by the Covid-19 outbreak.
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Marketing in the time of COVID-19
The current impact of the situation is still being molded, consumer behaviors and consumption patterns are changing and will continue to change drastically in the coming few months.
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BOL Launches Real Time Financial System
Bank of the Lao PDR (BOL) has officially launched the Lao Payment and Settlement System (LaPASS), a real-time gross settlement system, to promote a more efficient financial system.
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Nikon Lays Off 700 Workers In Laos and Thailand As Part Of “Structural Reform”
Nikon Corporation has announced that they’ve reduced the number of employees in their Imaging business by 700 at its factories in Thailand and Laos – around 10% of their workforce in each of those locations.
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Mass Unemployment The New Normal In SE Asia
A new International Labor Organization report suggests that more than one in six young people worldwide has stopped working since the start of the Covid-19 pandemic, while the rest have seen their working hours cut by almost a quarter.
Read more Laos’ Tax Collections Decrease Due To Covid-19 Pandemic And New Tax Law Adjustment
Laos will not be able to achieve the target for tax collections this year due to the Covid-19 crisis and the implementation of the adjusted new tax law.
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Amended Law On Insurance In Laos
The amended law addresses insurance activity in Laos, insurers’ daily operations, and termination and liquidation of an insurance company.
Read more COVID-19 To Impact Lao PDR Growth, Debt In 2020: World Bank Report
Between 96,000 and 214,000 additional people are estimated to fall into poverty as a result of the pandemic, jeopardizing past gains.
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Gradual Reopening Of Int’l Borders
39 days no infections prompts gradual reopening of int’l borders
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Little Laos Teeters Towards Big Debt Crisis
Laos will be hard-pressed to meet its external debt obligations
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Lao Economy Needs Cash Injection
The government needs to speed up the provision of the loans it has approved as this is one of the best ways to help Lao businesses survive amid the Covid-19 pandemic
Read more Unemployment Spirals Due To Covid-19 Outbreak
The perennial challenge of unemployment in Laos has been further exacerbated by the Covid-19 outbreak as large numbers of people have been laid off from their jobs.
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Fitch Revises Laos’ Outlook to Negative, Affirms Rating at ‘B-‘
Fitch Ratings has affirmed Laos’ Long-Term Foreign-Currency Issuer Default Rating (IDR) at ‘B-‘ and revised the Outlook to Negative from Stable.
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Laos Extends Flight Ban
The ban on flights to Laos continues with no end date in sight as far as government announcements go
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Laos’ Exports Drop Further Amid COVID-19 Crisis
The value of Laos’ exports this year have dropped from US$410 million in January to US$209 million in April because of the impact of the global Covid-19 pandemic.
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Shopping Centres Reopen To Public
Many large shopping centres have resumed operations after being temporarily closed in line with the government’s orders to prevent the spread of Covid-19.
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Businesses Must Implement Virus Measures To Prevent New Outbreaks
Enterprises operating during the ongoing COVID-19 pandemic must strictly implement precautionary measures to avert further outbreaks of the virus, authorities have advised.
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Government Introduces Three-Step Business Start-Up Process
The government has introduced the three-step Business Start-up process for registration of enterprises that will facilitate entrepreneurs, and reduce time and unnecessary costs.
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Work Completed On Laos’ Third Longest Tunnel For Railway Link With China
Work on the country’s third longest tunnel at Namor district in Oudomxay province, which is part of the Laos-China Railway Project and has a length of 9020 metres, has been completed.
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Ministry Says Parents Of Students In Private Schools Must Pay 50 Percent Of Fees
Private schools must pay 50 percent of the salaries of teachers, while parents must pay 50 percent of the fees for students for the month of April.
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PM Extends Restrictions For Virus Control, Some Eased To Minimise Economic Impact
The prime minister told the cabinet to remain tough in enforcing his Order No. 6 which imposes tougher prevention and control measures, and measures imposed by the relevant authorities.
Read more Factories, Businesses To Operate Amid Lockdown
Factories and businesses at the heart of the Lao economy will be able to resume their operations amid the extended lockdown ordered by the Prime Minister to combat the Covid-19 pandemic.
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Lao Tourism Income To Decline At Least US$350 Million In 2020
Laos is expecting tourism revenues to fall by at least US$350 million (3,111 billion kip) this year with the sector to cut 2 percent off the nation’s gross domestic product (GDP).
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Thailand Warns Food Delivery Apps For Overcharging Amid Coronavirus Outbreak
Thailand’s anti-monopoly watchdog warned food delivery platforms they could face fines for charging higher commissions
Read more Trade Deficit Spikes In March
Laos recorded a trade deficit of US$118 million in March, which was higher than the figures for January and February.
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Investors Call The Government Considers Import And Export Goods Via Local Checkpoints
Businesses engaged in foreign trade have asked the government to allow imports and exports via local and traditional border checkpoints
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Need Support? We Are Still Here For You!
As all J&C teams have switched to “home office”, we assure you that J&C Group continues to support you, your family, and/or your company.
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Lao Economic Growth Shrinks Amid Drop in Production, Spending
Economic growth in Laos has slowed as production and consumer spending drop amid fears of a spread of the coronavirus, with growth expected to shrink by about 50 percent
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Lao PM Announces Tax Break
Lao Prime Minister Thongloun Sisoulith just announced the following tax measures to reduce the impact from COVID19 on SME’s
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Lockdown ! Govt Toughens Virus Prevention Measures
The government yesterday announced to close all international checkpoints and prohibit public movement for non-essential activities for almost three weeks to control the coronavirus pandemic as fears of outbreak escalate.
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Tax Update: Postponement Of The Filing Due Date of Financial Statements for 2019
The filing due date of the financial statements for 2019 is postponed to 30 April 2020
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Finance Ministry Warns Motorists To Pay 2020 Road Tax
The Ministry of Finance issued a notice last week reminding vehicle owners to pay the road tax by the end of this month, or face a fine.
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Laos Adopts Stimulus Package To Minimise Virus Economic Impact
The Lao government has adopted in principle an economic stimulus package to minimise the impact caused by the ongoing outbreak of the coronavirus (COVID-19)
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Thai Economic Outlook Among Asia’s Weakest
Thailand is preparing to restrict some aspects of daily life after the country’s biggest spike in coronavirus cases, further damaging one of Asia’s weakest economic outlooks.
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