Lao Economy Grinding To A Halt As Fuel Crisis Deepens
A plummeting currency, dwindling foreign reserves, and a spike in global oil prices have led to shortages across the country.
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Finance – Banking – Money
Businesses And People Hit By Depreciating Local Currency
The value of the Lao kip has dropped significantly since last year against the backdrop of volatility in the global fuel market due to the Russia-Ukraine conflict.
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J&C Insurance Brokers Awarded Top Selling Agent 2021
Named as ‘Top Selling Agent’, J&C Insurance Brokers was recognized for their exceptional performance in 2021 – by Lanexang Assurance!
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Fuel Shortage Causing Hardship For Lao People
Fuel shortages forced petrol stations in Vientiane and some provinces to close on Monday, with many of desperate motorists going from one station to another in the hope of filling up their tanks.
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Inflation Rate Closes In On Two Digits
The year-on-year inflation rate in Laos surged to 9.9 percent in April, the highest figure recorded since January 2016
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Govt Agrees In Principle To Raise Minimum Wage
The government has agreed in principle to increase the minimum wage in a bid to ease the hardships suffered by many people amid the rising cost of living.
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Laos Records Trade Surplus Of US$100 mn In March
Laos registered record two-way trade of US$1,100 million, including exports of US$600 million and imports worth approximately US$500 million, in March, resulting in a trade surplus of US$100 million.
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Road Tax 2022 Must Be Paid By The End Of June
Payment of the tax is obligatory and people who make late payments or fail to pay at all will be fined.
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Broker of the Year 2021 – J&C Insurance Brokers Awarded
J&C Insurance Brokers is an award-winning and leading independent insurance specialist in Laos offering customer-tailored solutions.
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LoudChat: Laos Launch First Communication App
LoudChat, Laos’ first communication app was launched last week by the Ministry of Technology and Communications and Sirichalernxay Sole Co., Ltd.
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Laos Issues Tax Obligations for Non-Resident E-commerce and Digital Platform Providers, Joins Other ASEAN Markets
Under the new rules, non-resident e-commerce and digital platform providers must register for a tax identification number (TIN) via an online portal to file and pay their taxes. Further, they must register and pay value-added tax (VAT) if their annual revenue meets a certain threshold.
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Inflation Jumps To Record High
The year-on-year inflation rate in Laos surged 8.5 percent in March, even more than expected, and rose to the highest figure recorded since January 2016.
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Govt To Mull Cut In Excise Tax To Reduce Price Of Fuel
The government will consider cutting or even waiving excise tax on the price of imported oil, to reduce skyrocketing prices at petrol stations.
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World Bank Downgrades Lao Economic Growth Rate To 3.8 Percent
Laos’ economy is projected to expand by 3.8 percent in 2022, down from the 4.5 percent growth rate predicted in October last year, and 3.3 percent in the downside scenario, according to the World Bank’s latest report.
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Lao Govt Mulls Full Reopening For Foreign Tourists
The government is mulling full reopening of the country to foreign tourists after piloting the first phase of partial reopening for targeted groups of visitors.
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Updated Measures For Entering Thailand Announced, Starting April 1st
Travelers are no longer required to provide a negative RT-PCR test within 72 hours of departure. However, the RT-PCR test requirement for the on-arrival date remains unchanged.
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Low Minimum Wage Causing A Worker Shortage
The Lao Federation of Trade Unions (LFTU) has called on businesses, including garment factories, to pay workers the increased minimum wage, which rises from 1,100,000 kip to 1,500,000 kip per month this year.
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Inflation In Laos Higher Than GDP Growth
Inflation in Laos has surged higher than the projected rate for the Gross Domestic Product (GDP), sparking fears among many people regarding the impact on their living standards.
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Laos Fragrance Brand Scents Success In Hugely Competitive Market
Laos’ first perfume brand HSMM Fragrance launched two new scents – “Lady of Lao” and “Black Intense” – at the 2021 Outstanding Entrepreneurs “Made in Laos” Award ceremony held in Vientiane la
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Labour Ministry To Set Up Worker Database
A Labour Registration and Data Platform will be set up in Vientiane for the compilation of information concerning both Lao and foreign nationals working in Laos.
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Foreign Currency Deficit Among Economic Challenges Confronting Laos
Laos’ overall balance of payments situation is negative despite a trade surplus of US$1.32 billion in 2021 because foreign exchange inflows represent only 26.45 percent of the total export value.
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Inflation Jumps To Six-Year High Of 7.3 Percent
The year-on-year inflation rate jumped to 7.3 percent in February, the highest figure recorded in Laos since January 2016.
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Work On Vientiane-Vung Ang Railway Expected To Start In November
The railway, estimated to cost US$5 billion, is a proposed line that the Lao and Vietnamese governments have agreed to jointly develop. It would enable landlocked Laos to access the deep seaport – the closest feasible seaport to Vientiane.
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Exim Bank ‘Reckless’, Sought ‘Collateral Advantage’ When Selling Don Chan Palace Hotel, Rules Court
The properties included the Don Chan Palace Hotel, a 5-star international hotel constructed on a swathe of land measuring almost 176,000 sq metres along the Mekong River in Laos valued at US$140 million.
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Global Fuel Price Hike Affecting Oil Supply In Laos
The rise in price of imported fuel means that retail prices in Laos will inevitably continue to rise.
The price of oil is factored into the cost of production, meaning that product prices will also rise.
Laos Power Plant Deals In The Pipeline
Developers and operators of four hydroelectric power plants in Laos will sign power purchase agreements with energy policymakers in Laos and Thailand within May under a plan to promote more renewable energy.
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Fuel Price Hike Impacts Flights, Regular Transport Services Unchanged
Lao Airlines – the national flag carrier – has decreased domestic flights to balance its revenues and expenditure.
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Imperial Tobacco Accused Of Cheap Laos Product Deal
Imperial Tobacco has been accused of allowing a trade in cheap cigarettes in Laos through a special deal with the country’s government.
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Measures To Free Stranded Trucks, Rail Transport To China Outlined
Lao authorities will ask their Chinese counterparts to consider reopening more border crossings to allow trucks carrying goods to enter China as hundreds remain stranded at the Boten-Mohan crossing on the Laos-China border.
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Fuel Prices, Currency Depreciation Drive Up Inflation In Laos
Fuel prices have increased six times in a period of just two months and 10 days, sparking greater concerns about the rising cost of living in Laos.
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Lao Govt Sets Ambitious Trade Surplus Target
The government is aiming for a trade surplus of at least US$1.55 billion this year, despite the country’s economic difficulties triggered by the Covid pandemic.
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Minimum Wage Hike Still Problematic
Attempts to increase the minimum wage are meeting with resistance because of the impacts on businesses caused by the Covid-19 pandemic.
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Tensions Among Truckers On Laos-China Border Again Erupt Into Fistfights
The latest melee began after a Chinese trader cleared the way for his Lao driver to cut ahead in line.
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New Affordable Treatment Available For Covid In Laos
A drug to treat Covid-19 in Laos will soon be available in the form of Molacovir, at a relatively cheap price and with guaranteed quality.
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Laos’ Expensive Gamble On Electricity May Dim Its Economic Future
Laos took on huge debt to become the “Battery of Southeast Asia,” but sales are not as robust as hoped.
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Lao Govt Launches Online Visa Application Portal As Covid Curbs Eased
The Lao government has launched an online visa application portal to ease entry procedures for foreign nationals and Lao nationals living overseas.
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Inflation Rate In Laos Hits Highest Point In 2 Years
The year-on-year inflation rate in Laos jumped to 6.25 percent in January, the highest figure recorded since January 2020.
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Laos-China Railway To Operate Additional Train
The Laos-China Railway Company has announced it will operate a slower-speed train in addition to the two existing high-speed EMU trains to meet the growing needs of passengers.
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Rising Inflation Sparks Public Concern
In the past 42 days, fuel prices have risen four times, causing heated debate among members of the public who are increasingly concerned about the spiralling cost of consumer goods.
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Laos Records Trade Surplus Of US$41 Million In January
Laos recorded a trade surplus of US$41 million in the first month of this year, with China continuing to be the country’s largest export market.
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Rail Operator Asks For Government’s Help To Resolve Problems
LCRC also asked the government to counter negative publicity concerning the railway as well as for assistance with other issues
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Huge Truck Backlog At Chinese Border Due To Covid Screening
Hundreds of trucks loaded with goods are stranded at the Boten-Mohan crossing on the Laos-China border, with strict Covid screening procedures causing long delays.
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NTP Launches Free Fuel Delivery Service
The Ministry of Industry and Commerce has authorised NTP Public Company to launch a free-of-charge fuel delivery service so that members of the public can receive the best service and cut travel costs, amid record high fuel prices.
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Laos Recorded Trade Surplus Of US$1 billion In 2021
China topped the list of five main countries for exports with a figure of US$ 2,221 million, and the others were Thailand (US$ 2,187 million), Vietnam (US$ 1,220 million), Australia (US$ 348 million), and Switzerland (US$ 116 million).
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Lao Authorities Rescue Women Trapped In Chinese-Run Economic Zone
Some women who could not pay off debts they owed to their employers were forced into prostitution.
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Laos Has Second Highest Inflation Rate In Asean
Laos is suffering from one of the highest inflation rates in the region, raising concerns as the population suffers from financial hardship
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Japan Pledges US$8.78 Million For Early Warning Systems
The government of Japan has agreed to provide 1 billion yen (US$8.78 million) to install weather-related early warning systems in six provinces of Laos.
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Laos To Raise Monthly Minimum Wage To $134
Policymakers in Laos are studying a proposal to rise the country’s minimum wage as inflation and an increasing cost of living bites particularly low-earners
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Inflation In Laos Jumps To Highest Point In 15 Months
The prices of goods and services in Laos continue to rise at a rate unseen since August 2020, increasing by 5.27 percent in December last year when compared to the figures for the same period in 2020.
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Govt Vows To Slash Red Tape, Boost Revenue
The government has pledged to remove barriers that hinder business operations in Laos while speeding up bitcoin mining by authorised companies.
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Lao Govt Bans Import Of Cattle, Pigs, Goats, Chickens, Freshwater Fish And Other Agricultural Products
The government has banned the import of certain types of agricultural produce, livestock and fish, aimed at spurring the farming of these crops and animals in Laos to boost the economy and generate more revenue for farmers.
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Congratulations To The J&C Lucky Draw Winners !
At the end of last year, we were proud to make some people happy under their masks by providing them
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Thai Company To Spend US$1 billion On Lao Smart City
Amata Corporation, a major industrial estate developer in Thailand, plans to invest US$1 billion in the construction of the Amata Smart and Eco City in northern Laos.
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BOL Issues Licences For Cryptocurrency Exchange Platforms
The Bank of the Lao PDR (BOL) has issued licences authorising two companies to trade in cryptocurrencies, namely Lao Digital Assets Exchange (LDX) and Bitqik.
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Phongsavanh Group Breaks Ground For Smart City Development Project
Phongsavanh Group Co., Ltd. (PSVG) on Thursday held a groundbreaking ceremony to start construction of a model modern city project named ‘the Smart City Development Project’ at the Vientiane Industry Zone.
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Declining Coffee Production In Laos Needs Urgent Attention: LCA
The Lao Coffee Association (LCA) is worried about a steep decline in coffee production and a gradual increase in prices of the commodity.
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World Bank Optimistic About Growth Of Lao Economy
The World Bank has predicted that Laos will see economic growth of 4.5 percent in 2022 and 4.8 percent in 2023 despite projected slower growth of the global economy.
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Laos Sees Rise In Trade Value, But Deficit Persists
The total value of goods imported and exported by Laos in December rose to over US$1.1 billion
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S. Korea’s EDCF Funds The Construction Of UHS Hospital In Laos With Consultancy Support From SNUH
The new hospital will enhance Laos’ health and medical environment as well as provide professional training and health research.
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Govt Inks Deal On Electronic Civil Management System
The government is developing an electronic civil registration and vital statistics system to increase capacity to collect demographic statistics and produce and disseminate reliable and timely socio-economic and poverty information.
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J&C Group Celebrates Successful Year By Awarding Team Members
It was another incredible year for our J&C Group with lots of challenges and achievements!
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Public Works Ministry Sets Water Rates For 2022
Water suppliers will set different rates according to the volume used by a household
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Commerce Ministry Encourages Copyright Registration
Source: Vientiane Times All commodities produced in Laos will have copyright protection under the Property Law after it has been
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Laos Records A Trade Deficit Of US$131 Million In November
The Lao PDR’s international trade volume for November reached US$912 million with exports valued at US$390 million and imports estimated at US$521 million
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VAT Reduced To 7% Under Amendments To Lao Tax Laws
The applicable VAT rate on importing goods and supply of goods and general services will be reduced from 10% to 7% from January 1, 2022
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Govt To Remove Difficulties Hampering Exports To China
The pandemic has led to Chinese authorities putting in place strict measures to monitor drivers and cargo bound for China. This has resulted in thousands of cargo vehicles on both sides of the border facing long waits.
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Laos Adopts New Measure To Combat Corruption: Party Expulsion
Officials dismiss nine government employees who embezzled funds in Bokeo province.
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Green Travel Zones Of Laos Ready To Welcome Visitors
Several tourist sites located within green travel zones in provinces across Laos are ready to welcome visitors from next month under “new normal” conditions amid the Covid-19 pandemic.
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Luang Namtha Bans Trucks Amid Huge Backlog Awaiting Entry To China
About 350 trucks have been arriving at the Boten checkpoint each day but Chinese authorities are allowing only 150 to cross the border.
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Korean Company To Carry Out Feasibility Study For Upgrade Of Luang Prabang International Airport
The government has given the green light to the Korea Airport Corporation (KAC) to carry out a feasibility study for the upgrade of Luang Prabang International Airport
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Despite COVID-19, China Expects 1 Mln Passenger Trips On New Laos Rail Link
China expects more than 1 million passenger trips to be made on a newly opened high-speed rail link to Laos during the peak Lunar New Year travel season early next year, despite COVID-19 travel restrictions.
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Lao Economy Expected To Grow 4.2 Percent Next Year
The Lao economy is projected to grow by 4.2 percent in 2022, driven by commercial production for exports and opportunities and benefits arising from the Laos-China Railway.
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Laos Records Trade Deficit Of US$336 Million
Despite racking up a trade deficit of US$336 million in the first 11 eleven months of 2021, the government is hopeful that its planned trade targets will be reached by the end of year.
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Over 5,500 People Travel On Railway Since Inauguration
Over 5,500 people have bought tickets to travel on the Laos-China railway in the first five days since passenger services were offered starting on December 4.
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First Cold-Chain Train Launched On China-Laos Railway
It is the first train involved in cold-chain logistics on the 1,035-km China-Laos Railway, a landmark project of high-quality Belt and Road cooperation
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Domestic Rail Services To Begin On December 4
To begin with, tickets will be on sale at railway stations but will not be available online, and travel will be limited to destinations within Laos because of the ongoing Covid-19 outbreak
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Govt In Need Of Massive Financial Support
The government will require 18.7 trillion kip (US$1.8 billion) to address the projected fiscal deficit and repay domestic and overseas loans by the end of this year
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New Roadmap To Drive Sustainable Wood Production, Exports
A new export roadmap for the wood processing sector will promote sustainable wood production and the export of wood products through the inclusion of more value-added products.
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UN Resolution To Upgrade Laos From LDC
The United Nations General Assembly has adopted a resolution to upgrade Laos from the least developed country category (LDC)
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Laos’ Trade Deficit Exceeds US$45 Million In October
Laos registered a record monthly trade deficit of US$45 million in October, when total two-way trade was worth US$819 million
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Laos To Have First University Hospital
Seoul National University Hospital (SNUH) of the Republic of Korea has agreed to advise the Ministry of Health on the construction of a hospital under the University of Health Sciences (UHS-Laos).
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Railway Inauguration Planned For December 3, Passenger Transport Date Not Yet Decided
Inauguration of the 426-km Laos-China railway and the start of freight transport are scheduled for December 3, but a precise date for the start of passenger services has not been yet decided
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Motorists Nationwide Hit By Yet Another Hike In Fuel Prices
Source: Vientiane Times Motorists in Vientiane and provinces across Laos are in the hot seat again as the retail prices
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Govt Rejects Proposal To Buy Its Stake In BCEL
The government has declined a request by the Phousy Group to purchase a major stake in a leading Lao bank, the Banque pour le Commerce Exterieur Lao Public (BCEL).
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Boten Border Crossing Reopens For 3-Day Test Run
Chinese authorities have reopened the border crossing from Boten into China for a three-day test run
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No Decision Made On Proposed Purchase Of BCEL
No decision has yet been made on the proposed purchase of a major stake in the Banque pour le Commerce Exterieur Lao Public (BCEL) currently held by the Ministry of Finance
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Laos Could Lose Millions With Closure Of Boten Border Crossing
Laos may lose millions of dollars from lost exports to China now that Chinese authorities have closed the Boten International Checkpoint, a major travel and trade route between the two countries.
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Year-On-Year Inflation Rate Hit 4.17 Percent In September
Laos saw the year-on-year inflation rate moving up from 3.81 percent in August to 4.17 percent in September
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Tackle Inappropriate Land Occupation, Lack Of Compensation: Lao Front
The Lao Front for National Development has told the National Assembly (NA) to push the government to address inappropriate occupation of land and the lack of compensation given to people affected by development projects.
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Govt Pledges To Diversify Energy Sources To Minimise Imports
The government has vowed to diversify its sources of energy by developing solar, wind power and coal-fired power plants to address the electricity shortage in the dry season.
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Govt To Push Businesses To Boost Production For Chinese Market
The government is set to hold talks with business operators to encourage them to produce more of the goods required by Chinese buyers
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Ministry Mulls Route Of Vientiane-Vietnam Expressway
The government is discussing the planned route of an expressway running from Vientiane through Xaysomboun, Xieng Khuang and Huaphan provinces to the Vietnamese border.
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Laotian Govt Budget Expected To Gain $194M From Crypto Miners By 2022
Lawmakers reportedly plan to use the extra revenue for “priority programs,” including paying down the national debt and responding to the pandemic.
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Govt Extends Covid Controls But Keen To Open Schools, Factories
The government has in general extended Covid-19 control measures for another 15 days but has lifted some restrictions in order to ease the economic impacts, such as the reopening of more schools and factories.
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Expand Your Business To The EU !
Lao PDR now has great new potential to grow exports to the EU with many products!
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Laos’ Economy To Grow At Only 2.1 Percent This Year: IMF
The International Monetary Fund (IMF) is projecting that Laos will see economic growth of just 2.1 percent this year, down from the 4.7 percent growth rate predicted in April.
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Award ‘Leading Insurance Broker Laos 2021’ By The International Business Magazine
International Business Magazine has acknowledged the price competitiveness and the outstanding & professional services provided by J&C Insurance Brokers to its clients in Laos
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Trade Union Body To Seek Hike In Minimum Wage
The Lao Federation of Trade Unions (LFTU) plans to ask the government to approve an increase in the monthly minimum wage from 1.1 million kip to 1.3 million or 1.5 million kip.
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New Bokeo International Airport Expected To Be Completed In Months
The construction of new Bokeo International Airport with capability of accommodating 200-seat aircraft such as Airbus A320, Boeing 737 and ATR-72 is expected to take a few months to complete.
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“AutoMarche” Largest Online Marketplace Debut In Laos
‘AutoMarche.com.la’ is the largest online marketplace in Laos, connecting used car “buyers” and “sellers”.
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China-Laos Railway Kicks Off “Dynamic Testing”
The first dynamic testing train departed from the Vientiane Station of China-Laos Railway on Wednesday morning and headed north to the Laos-China border town of Boten to kick off the dynamic testing along the China-Laos Railway.
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Thailand Is Laos’ Largest Trading Partner, China And Vietnam Are Top Export Markets
Thailand is Laos’ largest trading partner but the country’s main export markets continue to be China and Vietnam.
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Lao Flag Symbol Inspires Passenger Train Design For Laos-China Railway
The symbol of the Lao flag with its three colours has inspired the design of the first train that will run on the Laos-China Railway.
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Motorists Grapple With Fuel Shortage In Vientiane
Motorists in Vientiane are struggling to find premium grade and regular fuel for their vehicles after some petrol stations ran out of supplies
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Govt Pledges To Reduce Nation’s Debt By 2023
The government has vowed to reduce the total public and publicly guaranteed debt stock to 64.5 percent of Gross Domestic Product (GDP) by the end of 2023.
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What Does The Data Tell Us About Electricity Pricing In Laos?
Many Lao people feel they deserve lower prices because the country has built dozens of electricity-generating plants over the years. EDL officials, however, maintain that electricity is already cheap and that people should use it more economically.
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Laos Targets 1 Percent Electric Vehicle Use By 2025
Laos is promoting the use of clean energy in the transport sector as part of measures to translate the government’s policy into an action plan until 2025, a strategy for 2030, and a vision for 2050.
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Motorists Hit By Yet Another Fuel Price Hike
This mean that motorists in Vientiane and the provinces will pay extra for fuel this month. This follows several changes in retail prices recently.
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Price Of Construction Materials Surges, Labour Rates Dip
People hoping to build a house this coming dry season will have to think twice now that the price of many construction materials on sale in Vientiane has risen sharply.
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Bureau Outlines Three Main Causes Of Inflation
The Lao Statistics Bureau has highlighted three main underlying causes of inflation, amid rising concerns over the ongoing health crisis and food security.
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Laos Enlists Japan Startup For Study On Digital Currency
Laos will explore issuing its own digital currency with support from a Japanese financial technology startup that was involved in a similar effort by Cambodia
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Most Stations On Laos-China Railway Now Complete
Most of the stations on the Laos-China Railway are now complete ahead of the planned opening of the railway in December.
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PM Orders Re-Negotiation For Fair Benefits In Mining, Energy Projects
Prime Minister Phankham Viphavanh has told the Ministry of Energy and Mines to re-negotiate with the operators of hydropower and mining projects to ensure fair benefits from such projects
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Vientiane-Hanoi Expressway Under Study
The Lao and Vietnamese governments are considering the feasibility of building an expressway linking Vientiane to Hanoi, with assistance from the government of Japan.
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Mitsubishi Invests In Laos Wind Farm Project, Biggest In Southeast Asia
Japanese trading house Mitsubishi Corp. has invested in a massive wind power plant project in Laos to deliver electricity to Vietnam, in what would be the biggest onshore wind farm in Southeast Asia.
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Lao Economy Suffering Due To Covid-19 Outbreak
This year’s Covid-19 outbreak has deepened the impacts on Laos’ economy, resulting in business shutdowns, growing health concerns, and falling sales.
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36 Tea Garden Wins Gold Award At World Tea Contest
The 36 Tea Garden in Pakxong district, Champassak province, has won first place in the category of Black Tea, winning a gold award at the World Tea Championship Competition.
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Covid-19 Delays Economic Recovery In Laos: ADB
The unanticipated Covid-19 pandemic has delayed economic recovery in Laos, with consumption hit hard by the virus control measures implemented since April
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Fuel Prices Set To Rise Again
Motorists across Laos will have to spend more on petrol as the Ministry of Industry and Commerce issued a notification on Wednesday increasing the prices of all types of fuel.
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BOL Gives Update On Authorised Money Exchange Units
Some 419 money exchange units have become representatives of commercial banks and will operate under the authorisation of the bank, in an attempt to tackle the difference in currency exchange rates between banks and money-changing outlets.
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Laos Pushes Into Crypto As It Authorises Mining And Trading
Laos has authorised the mining and trading of cryptocurrencies, in a policy shift by the debt-laden south-east Asian nation that positions it to profit from the crackdown on digital currency mining in China.
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Giant Buddha Statue Plan Rankles Residents of Laos’ Capital
A Chinese firm’s plans to build a 100-meter-high Buddha statue in low-lying Vientiane encapsulate China’s outsized economic presence in Laos
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Multiple-Entry Visas Offered To People Of Lao Descent Living Abroad
The government has promulgated a new regulation that offers multiple-entry visas with longer stays for people of Lao origin those who hold another crtizenship and are residents in other countries.
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Lao Startups Facing Challenges
Lao startups are facing challenges in their efforts to help strengthen the national economy, including a lack of legislation that supports their set up and administration, with little incentive from the government.
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BOL Requires Currency Exchange Units To Partner With Commercial Banks
BOL issued a notice informing currency exchange units nationwide to register with commercial banks to ensure their operations are carried out under the authorisation of the banking system.
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Chinese Investments In Laos Soar, But Little Wealth Is Spread
Not counted is the cost in damage to the country’s environment and Lao citizens’ loss of homes and livelihoods, experts say.
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Laos Records Lowest Trade Deficit, US$24 Million In August
Laos registered a record low trade deficit of US$24 million in August compared to the previous records of the year, with the two-way trade value amounting to US$880 million
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Opening Of New Office Building At J&C Group
Just after only 3 months of construction, the J&C Group teams were able to move into modern and bright offices. The new office building are designed to accommodate the various companies operating under the J&C Group umbrella.
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World Bank To Support Land Administration, Titling In Lao PDR
Land holders across Lao PDR, including some of the most vulnerable households, are expected to benefit from improved land administration and titling thanks to a project approved by the World Bank this week.
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Economic Fallout From Covid Deepens: World Bank Survey
he economic fallout in Laos over the second quarter of this year as employment fell off sharply and households and businesses suffered declining income and revenue
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Covid-19 Measures Intensified In 15-day Extension
The government has extended Covid-19 prevention and control measures for another 15 days until September 15, with some measures being strengthened.
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J&C Insurance Brokers Recognized At Insurance Asia Awards 2021 As Broker Of The Year – Laos
Insurance Asia honours the most exceptional companies putting out solutions and delivering outstanding value to its stakeholders as it awarded over 100 insurance companies from 24 countries at the sixth Insurance Asia Awards.
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Laos Records Highest Trade Deficit Of US$99 Million In July
Laos registered a record trade deficit of US$99 million in July, with exports valued at US$374 million and imports at a US$473 million, comprising a total two-way trade value of US$847 million.
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Kasemrad International Hospital Opens In Vientiane
The new Kasemrad International Hospital Vientiane (KIH Vientiane), now the largest private hospital in Laos, has opened to provide comprehensive medical services to patients around the clock
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Laos-China Railway Announces 200 Jobs For Lao People
The company on Tuesday invited interested applicants to apply for the jobs concerning the maintenance of communication, engineering and power supply equipment on the railway.
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Govt Reveals Debt Payment Plan
Revenue earned from potential mining operations, revamped state enterprises and from other as yet untapped sources will be used to pay debts amounting to almost US$14 billion
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College Graduates in Laos Face Bleak Job Prospects Amid Pandemic Shutdowns
Recent college graduates in Laos are having trouble finding work, as businesses continue to shut down in the face of economic difficulties tied to the COVID-19 pandemic.
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Govt Proposes Income Tax Revisions To National Assembly
The Ministry of Finance has revised several articles of the Law on Income Tax, to enable businesses to operate
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US Has Opportunity To Establish Stronger Economic Ties With Laos
The United States has an opportunity to reset its relationship with Laos and establish a future-oriented partnership based on economic development to offer a complement to Chinese influence.
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Thai Baht Could Sink Even Further, Analyst Warns
Thailand’s baht could weaken further after reaching its lowest point since late 2017 level of 33 baht per USD, an analyst at Krungsri Securities said on Wednesday, as the economy is challenged by its most severe Covid-19 outbreak so far.
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Govt No Longer Accepting Iron Ore Pilot Project Proposals
New proposals for the survey, extraction and export of iron ore in the form of pilot projects will no longer be considered, the Prime Minister’s Office has announced.
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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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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.
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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.
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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!
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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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