While investment in concession operations and special economic zones dropped in Laos last year, the number of newly registered businesses has increased significantly
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Laotian Prime Minister Sonexay Siphandone chaired the inaugural Ministerial Conference on Blockchain 4.0 Digital Transformation.
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The Lao government is committed to improving the quality of basic education, enrolling all children and keeping them in school, and improving education financing.
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Laos registered a trade deficit of US$17 million in April, according to official statistics released on Tuesday.
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The positive signals from the business registrations have proved Laos’s determination in bringing the economy to recover and develop.
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Laos’ garment association has urged the government to reduce taxes on imported raw materials to lower production costs to make the industry more competitive.
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Laos and Japan have affirmed their desire to further their economic and trade cooperation.
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Laos Biospring.LTD and Singapore Zen science announced that the two parties have signed a joint venture company called BioZen
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ASEAN will host the first region-wide online shopping event in August 2023 to promote cross-border trade through e-commerce.
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Bilateral cooperation has been constantly promoted to strengthens area such as national defense and public security, economy and trade.
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Greener trade and investment is crucial to tackling climate change in Laos, and will require regional governments to work together more closely.
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The steps needed to register a new business have now been posted online to ease business start-up, which will save time and simplify the process.
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Although its construction has been surveyed and studied for many years, the highway project has not progressed.
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The payment of government officials’ salaries, investment in development projects and repayment of debts constitute the largest portion of government expenditure allocated for 2023
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China has eased Covid-19 control measures after almost three years of travel restrictions
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The government plans to mobilise 41.15 trillion kip to address the projected fiscal deficit and repay domestic and overseas loans by the end of 2023
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Laos has recorded one of the highest rates of economic growth in South-East Asia over the past two decades, but few jobs have been created.
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In December 2022, Laos set a new record for the highest inflation rate of the year
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Despite the global economic downturn, the National Assembly of Laos has set an economic growth target of at least 4.5% for 2023
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To achieve this goal, the Ministry of Finance has pledged to modernise customs management systems at the main border checkpoints as part of efforts to plug loopholes resulting in financial leaks
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The government is looking at ways to derive more financial benefit from e-commerce, hoping to better manage and develop this form of business in order to earn more revenue.
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The Asian Development Bank (ADB) has forecast that the inflation in the Lao People’s Democratic Republic (Lao PDR) will average 23% in 2022 before falling to 10% in 2023
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The continuing depreciation of the kip is creating a major roadblock in the government’s efforts to rein in inflation
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Skyrocketing inflation is causing great hardship and people are desperately wondering how they can survive as prices across all categories hit record highs.
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A microfinance platform helps to financially include 850 villages in Lao PDR
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Southeast Asian countries look set to maintain ties with Russia as a trio of global summits loom, despite United States-led efforts to isolate Moscow over its Ukraine invasion
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The main exports included copper, rubber, bananas, cassava and other agricultural products
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China has become a key export market for Lao goods, especially agricultural produce, following the opening of the Laos-China Railway at the end of 2021.
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The price of food and non-alcoholic beverages has surged by 38.8 percent year-on-year, driven by the rising price of rice and other daily food items such as pork, poultry, fish, seafood, eggs, vegetable oil, fruit and vegetables
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Transport costs are not the only problem facing the country, but reducing them could help spur progress in other areas.
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All seven freight stations on the Laos-China Railway are now operational following the opening of Xay station in Oudomxay province on Tuesday.
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Under the new policy, money changers will be allowed to buy foreign currencies from customers but are forbidden to sell currencies other than kip
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The Study examines the financial viability and environmental sustainability of implementing a battery swapping system model for electric two-wheelers in Vientiane, to help achieve the government’s 2030 target of 30 percent electric vehicle penetration
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The Asian Development Bank (ADB) believes the Lao economy will see a gradual recovery next year, supported by new investment and higher renewable energy and mining output.
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The survey indicates that businesses main need are for accountants, followed by sales staff.
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The IMF’s downgraded growth for Laos is linked to both external and internal factors, with the report forecasting that global growth will decrease from 6.0 percent in 2021 to 3.2 percent in 2022 and 2.7 percent in 2023.
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Fifty-four developing economies, including Laos, that account for more than half of the world’s poorest people need urgent debt relief as a result of cascading global crises
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Inflation rate in Laos surged from 30.01% in August, 2022, to 34% in September
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Drivers are charged high fees to enter the station even to deliver or pick up passengers.
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The bitqik platform provides full brokerage and trading services in cryptocurrencies and other digital assets, both within Laos and the region.
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World trade is expected to lose momentum in the second half of 2022 and remain subdued in 2023, as multiple shocks weigh on the global economy
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The currency devaluation is having a damaging effect on the Lao economy, driving up the price of products and creating more hardship for the poor.
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Lao Mountain Coffee’s peaberry blend has won first place in the Continental Awards for Asia coffee competition.
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Some 700 Malaysians are reportedly being held captive in Bokeo province, Laos and have been abused by the resort managers who are allegedly demanding a large ransom for their release
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Economic performance in Laos could be compromised by slowing global demand, rising debt, and a reliance on short-term economic fixes to cushion against food and fuel price increases
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The government has vowed to further address mounting public debt and the vulnerability of the macroeconomy to prevent the country from being dragged into default.
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Laos, Thailand, and China are thinking about building a new railway bridge, running parallel to the first Lao-Thai friendship bridge
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The Asian Development Bank (ADB) has lowered its 2022 economic growth outlook for Laos to 2.5 percent from 3.4 percent projected in April and to 3.5 percent from 3.7 percent for 2023.
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The company’s policy is linked to the unfavourable global economic outlook and continuing depreciation of the kip, which are impacting on businesses in Laos.
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DiscoverLaos and J&C Group have recently formed a new strategic partnership
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Cross-border tourism flows increase, and fresh goods exports find new markets
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Some of the direst warnings in more than a decade have been issued from two major Thai sources regarding severe flooding this year in Bangkok, the Thai capital.
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Fitch Ratings plans to withdraw the ratings on Laos in approximately 30 days from the date of this commentary for commercial reasons.
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Geo-economic factors mean that the concerns about Laos defaulting are unrealistic.
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“The EV is one of the keys to fight inflation,” Loca chief executive Souliyo Vongdala tells the Straits Times.
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The government has set up a committee to carry out business reforms in the state-owned Lao Airlines to ensure that the national flag carrier becomes self-sustained in financial management.
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Retail and wholesale outlets together with car and motorbike repair businesses accounted for 29.4 percent of all new business registrations in the first six months of 2022.
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The town of Luang Prabang, which is renowned for Unesco’s listing of its old quarter as a world heritage site, has seen 90 per cent of room reservations made by Thai visitors since Laos lifted all entry restrictions in May.
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Laos has seen a surge in the number of visitors following the lifting of travel restrictions in January as the Covid-19 pandemic subsided.
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The higher prices of fuel and consumer goods and the continuing depreciation of the Lao currency kip are among the main factors driving the inflation.
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The government is holding talks with the Lao Fuel and Gas Association over the possibility of importing another shipment of fuel, as it is expected that current stocks will be depleted by the end of this month,
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The Lao government is committed to ensuring that sufficient supplies of fuel are provided to meet public demand and boost economic growth after a countrywide fuel shortage in May and June caused widespread disruption.
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Laos has one of the highest inflation rates in the region, with the price rise recorded 23.6 percent year-on-year in June, according to ADB
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The lack of seats and the difficulty in obtaining tickets led passengers to make complaints on social media about the problems encountered, with many people having to wait for hours in long lines to buy tickets. This forced the company to expand its services.
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The West has pressed Laos to ditch Russia and support its sanctions but the SE Asian nation has stayed true to its old Cold War ally
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The Phase II of the project comprises a 7.5km extension of the railway from the Thanalaeng station at the Thai border to the Vientiane station.
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The government pledged to ensure sufficient fuel is available by pursuing market-based mechanisms, saying this would minimise damage to the economy and small-scale commercial production.
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The central banks of five Southeast Asian (SEA) countries have agreed to link their payment systems by November of this year, in order to allow for easier transactions for travellers within the region.
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The year-on-year inflation rate hit 23.6 percent, the highest figure ever recorded since May 2000.
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The Asian Development Bank (ADB) has lowered its economic growth forecast for developing Asia including Laos to 4.6 percent this year, from 5.2 percent projected in April.
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Reported leaks at the sides of the Nam Theun 1 Hydropower dam under construction in Laos were not a cause for concern and were normal when a dam began storing water
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Land surrounding a new railway station in the capital is in high demand, sources say.
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The monthly minimum wage in the country will be increased to 1.2 million kip (US$78) starting on August 1.
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Laos faces intensifying economic and financial crises and there is likely no way out without some form of a Chinese bailout or debt forgiveness.
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Electricite du Laos (EDL), a monopoly company which should generate a significant amount of revenue from its dominance in the energy market, has been operating at a loss for many years and has accumulated huge debts.
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The inflation rate in Laos hit 23.6 percent year-on-year in June, the highest figure ever recorded since May 2000 as surging prices of energy and consumer goods continue to deepen hardship and create new pains for the Lao public.
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A track change station was officially opened at the Vientiane Logistics Park on Friday, creating an official link between the Laos-China Railway and the Laos-Thailand Railway.
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Embezzlement by executives and staff, combined with poor management, are the main reasons for the chronic losses suffered by state enterprises, the Prime Minister has told the National Assembly (NA).
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The premier said changes to the quantity of vehicles, alcoholic beverages and other imported luxury items would be considered, so that shrinking foreign currency reserves could be kept for essential goods.
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Laos lawmakers on Monday approved the appointment of a new central bank chief and two deputy prime ministers
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The government’s policy for promoting EVs includes zero percent tariffs, an excise tax of only three percent and a value-added tax of seven percent in order to lower the prices of EVs
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Source: Bloomberg Laos, with dwindling cash reserves and surging inflation, is facing some of the same strains that pushed Sri
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The Lao government will aim for Gross Domestic Product (GDP) growth of at least 4.4 percent over the last six months of this year
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Two banks previously owned by the state and which suffered chronic losses have begun making a profit following major reforms that saw a 70 percent stake in the banks sold to local investors
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Expansion of the route makes Thailand a ‘China Plus One’ Option
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The move is aimed at reducing the amount of money in circulation and curbing the spiralling inflation rate, which was recorded at 9.9 percent in April.
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Mounting foreign liabilities and thin foreign exchange reserves have left the nation of 7 million acutely vulnerable to global financial shocks.
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The law will provide assurance to members of the public that their personal data will be protected and will not be used by unauthorised people.
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Pfizer Inc plans to sell its entire portfolio of brand-name drugs at cost in as many as 45 lower-income countries, including Cambodia and Laos, one of the most comprehensive and ambitious drug-access programmes ever announced by a large pharmaceutical manufacturer.
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The use of guns to commit crimes in Vientiane is becoming increasingly common, with most incidents occurring at night.
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The government says the fuel crisis will be resolved in the near future as it will provide Thai baht and US dollars to fuel importers by authorising additional foreign currency payments to oil companies so they can import more fuel.
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A plummeting currency, dwindling foreign reserves, and a spike in global oil prices have led to shortages across the country.
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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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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 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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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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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 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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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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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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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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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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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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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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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 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’ 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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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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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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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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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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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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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.
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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Lao Airlines – the national flag carrier – has decreased domestic flights to balance its revenues and expenditure.
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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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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 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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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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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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The latest melee began after a Chinese trader cleared the way for his Lao driver to cut ahead in line.
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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 took on huge debt to become the “Battery of Southeast Asia,” but sales are not as robust as hoped.
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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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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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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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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 recorded a trade surplus of US$41 million in the first month of this year, with China continuing to be the country’s largest export market.
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LCRC also asked the government to counter negative publicity concerning the railway as well as for assistance with other issues
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Hundreds of trucks loaded with goods are stranded at the Boten-Mohan crossing on the Laos-China border, with strict Covid screening procedures causing long delays.
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The Ministry of Industry and Commerce has authorised NTP Public Company to launch a free-of-charge fuel delivery service so that members of the public can receive the best service and cut travel costs, amid record high fuel prices.
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China topped the list of five main countries for exports with a figure of US$ 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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Some women who could not pay off debts they owed to their employers were forced into prostitution.
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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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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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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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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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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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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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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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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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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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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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The total value of goods imported and exported by Laos in December rose to over US$1.1 billion
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The new hospital will enhance Laos’ health and medical environment as well as provide professional training and health research.
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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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It was another incredible year for our J&C Group with lots of challenges and achievements!
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Water suppliers will set different rates according to the volume used by a household
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Source: Vientiane Times All commodities produced in Laos will have copyright protection under the Property Law after it has been
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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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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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Officials dismiss nine government employees who embezzled funds in Bokeo province.
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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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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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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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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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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 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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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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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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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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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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The United Nations General Assembly has adopted a resolution to upgrade Laos from the least developed country category (LDC)
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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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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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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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Chinese authorities have reopened the border crossing from Boten into China for a three-day test run
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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 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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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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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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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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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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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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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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Lao PDR now has great new potential to grow exports to the EU with many products!
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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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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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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.com.la’ is the largest online marketplace in Laos, connecting used car “buyers” and “sellers”.
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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 but the country’s main export markets continue to be China and Vietnam.
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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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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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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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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 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 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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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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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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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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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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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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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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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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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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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 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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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 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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