IMF Downgrades Laos’ Economic Growth To 0.2 Percent
The lower growth rate is attributed to several factors linked to the global economic slump, triggered by the Covid-19 pandemic.
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Investments
China Announces Further Support For Laos
China has agreed to support Laos through three projects as part of efforts to strengthen cooperative relations between the two countries.
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COVID-19 Pandemic Severely Impacts Lao Economy: ADB
Although Laos was able to dodge severe health impacts from the COVID-19 pandemic, the effect on the country’s economy, particularly on the tourism sector, is being projected to be devastating.
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Inflation Surges In August
The price of food and beverages increased by 9.91 percent year-on-year and 2.19 percent month-on-month
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Laos Credit Downgrade Signals ‘Real’ Default Risk As China Looms
Fitch Ratings has downgraded Laos’ rating to “CCC” from “B-,” meaning that the Southeast Asian nation faces “substantial credit risk” and that default is a “real possibility,”
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Laos-China Railway On Track Despite Covid-19 Pandemic
Construction of the Laos-China railway is progressing as planned despite the obstacles posed by the Covid-19 pandemic.
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Laos The Latest China Debt Trap Victim
Laos set to cede majority control of its national power grid to China to service Belt and Road debts
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Lao Govt Partners With Hi-tech Company In Land Surveys
Lao Govt and Space Eye Lao Co., Ltd. (Spel) will partner in the study and development of a modern land management system in Laos using digital technology.
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Lane Xang Minerals Resumes Operation At Sepon Mine
The primary gold project is expected to generate about US$30 million in government revenue and economic benefits
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EDL, CSG Sign Agreement To Establish Transmission Line Firm
EDLT plans to invest about US$2 billion in building Laos’ national backbone power grid and cross-border power grid interconnection for Laos and its neighbouring countries
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Laos Faces Sovereign Default As Forex Reserves Dip Below $1bn
The country’s foreign exchange reserves have fallen below $1bn, less than Laos’ annual debt payments
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Laos To Lose Favourable Trading Status After LDC Graduation
Laos could face a trade loss of US$102 million under the special tariff scheme if the country graduates from the UN’s Least Developed Country (LDC) status in 2024
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Lao Telecom Officially Launches 5G System
Lao Telecommunications Public Company (Lao Telecom) has officially launched the 5G system, which is the first network in Laos.
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7-Eleven Signs Agreement with CP ALL to Operate 7-Eleven Stores in Laos
The first 7-Eleven-branded convenience store in Laos is expected to be open in Vientiane
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Laos To Lose US$483mil In Export Revenue Over COVID-19
The country is still facing a huge trade deficit
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Inflation In Laos Remains Sore Point For The Poor
The Consumer Price Index (CPI) remains high in Laos despite the government increasing measures to curb rising prices at Lao markets.
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Garment Makers To Focus On Domestic Market As Foreign Orders Slump
The Lao garment industry is in a slump following a significant drop in orders from foreign countries due to the Covid-19 pandemic and must now rely on the domestic market to sustain its long-time workforce.
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Foreigners Permitted To Purchase Limited Ownership Of Land-Use Rights – Amended Lao Land Law
Today sees the entry into force of the new Law on Land No. 70/NA dated 21 June 2019 (the “2019 Land Law”), which among other things, includes new provisions concerning the limited ownership of land-use rights by foreigners under certain circumstances, and the limited ownership of individual units in a condominium or apartment building.
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Land Disputes Remain A Challenge For Vientiane Authorities
Land disputes have become one of the most difficult issues for authorities in the national capital because of growing demand for land
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Cabinet Instructs Business-Friendly Policy Improvements, Tightening Of Border Crossings
Chaired by Prime Minister Thongloun Sisoulith, the two-day meeting told officials in charge to improve policies to promote small and medium enterprises (SMEs).
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Fiscal Deficit Ramps Up Pressures On Lao Government
An elevated fiscal deficit will result in growing public debt, which will ramp up pressure on the country’s debt servicing capacity amid the Covid-19 crisis.
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Vinamilk Poured An Additional $ 41 Million Into The Dairy Project In Laos
Vinamilk’s investment capital in Lao-Jagro has increased from 25.4 million USD to 66.4 million USD. Additional capital increased to build the first two farms in the complex of high-tech dairy farms in Laos.
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Moody’s Downgrades Laos’s Rating To Caa2, Outlook Changed To Negative
Moody’s Investors Service (“Moody’s”) has downgraded the Government of Laos’s issuer rating to Caa2 from B3 and changed the outlook to negative.
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Govt, GIZ Launch Project To Promote SMEs
The project will focus on Promotion of Strengthening Regional Structures for Small and Medium Enterprise Promotion in Asean.
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Inflation Rises In Laos Amidst Covid Pandemic
The inflation rate is increasing in Laos despite the government’s measures to regulate the prices of goods in the local markets.
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Top 3 Expos Of Laos Postponed To 2021 Due To Covid-19 Crisis
The organisers of the top three expos of Laos have announced that LaoBuild 2020, Lao Food & Hotel 2020 and LaoCafe 2020 have been rescheduled to June 17-19, 2021 in line with the government’s Covid-19-related restrictions.
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Laos Toughens Anti-Money Laundering Measures
Source: Vientiane Times The National Committee for anti-money laundering (AML) and counter-terrorism financing (CTF) has reviewed the progress of preparations
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Vientiane Architecture & Housing over the years… (p1)
Mr. Somphonsack Phayouphorn is a Swiss-Lao architect living in Vientiane. Born in Luang Prabang, he grew up and studied architecture,
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Private Hospital Project In Need Of Foreign Skilled Workers
The Covid-19 crisis resulted in an indefinite delay for the project to build the largest private hospital in Laos.
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COVID-19: Will AirAsia Be The Next Airline To Fold?
Auditors Ernst & Young noted the “existence of material uncertainties that may cast significant doubt on the group’s and the company’s ability to continue as a going concern.”
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Processing Factories Struggle To Stay Afloat
Many manufacturers in Laos are facing challenges to stay afloat even as the government has given them the nod to resume business.
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Laos Suffering From Limited Sources Of Foreign Currency
Source: Vientiane Times Laos needs at least US$4 billion in foreign currencies to purchase goods from other countries each year,
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Laos: Decision On Trademark Registration Process
The Decision brings clarity to certain important provisions of the Amended Law on Intellectual Property No. 38/NA, published in May 2018.
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Laos To Establish Centre For Food Quality
Source: The Star Laos will establish the National Center for the Quality Inspection of Foodstuff and Beverage to ensure the
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PRI·MED Medical Products Announces New Medical PPE Manufacturing Facility in Laos
PRI·MED Medical Products (PRI·MED), a worldwide leader in manufacturing single-use medical personal protective equipment (PPE) including face masks, gowns and examination gloves – has today announced the development of a new manufacturing facility in Vientiane, Laos
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One-Stop Service ‘Still Can’t Be Implemented’: DPM
The one-stop service introduced by the government to enable the completion of service procedures at one location is still not implemented effectively
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Laos’ Revenues From Coffee Rise Despite Reduction In Plantations
The value of coffee exported by Laos increased as the price of local coffee beans was better this year
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More Restaurants Resume Services, Some Remain Closed
Several restaurants in Vientiane and tourist destinations across Laos continue to be closed after suspending operations several months ago due to the Covid-19 crisis, and some operators are now seeking new ways to earn a living.
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Laos Has Avoided A Major Health Crisis, Yet To Be Immune To Global Economic Downturn
The Lao PDR has so far avoided a major health crisis but has not been immune from the global economic downturn as the COVID-19-induced economic recession has affected the country through multiple channels including tourism, trade, investment, commodity prices, exchange rates, and lower remittances.
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Vientiane-Vangvieng Expressway Over 70 percent Complete
Source: Vientiane Times Construction of a 113.50-km expressway linking Vientiane and Vangvieng is now over 70 percent complete and authorities
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Singapore Firm To Build US$1.7 billion Coal Power Plant In Laos
Laos has approved a Singapore energy firm’s plan to build a 1,000 MW coal-fired power plant in the southern province of Sekong.
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Real Estate Market Expected To Drop Sharply This Year
The real estate market in Laos is expected to decline by 15 percent to 20 percent this year because of the impact of the Covid-19 pandemic and a continuing economic slowdown.
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Nikon Lays Off 700 Workers In Laos and Thailand As Part Of “Structural Reform”
Nikon Corporation has announced that they’ve reduced the number of employees in their Imaging business by 700 at its factories in Thailand and Laos – around 10% of their workforce in each of those locations.
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Mass Unemployment The New Normal In SE Asia
A new International Labor Organization report suggests that more than one in six young people worldwide has stopped working since the start of the Covid-19 pandemic, while the rest have seen their working hours cut by almost a quarter.
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Gradual Reopening Of Int’l Borders
39 days no infections prompts gradual reopening of int’l borders
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Little Laos Teeters Towards Big Debt Crisis
Laos will be hard-pressed to meet its external debt obligations
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Lao Economy Needs Cash Injection
The government needs to speed up the provision of the loans it has approved as this is one of the best ways to help Lao businesses survive amid the Covid-19 pandemic
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Unemployment Spirals Due To Covid-19 Outbreak
The perennial challenge of unemployment in Laos has been further exacerbated by the Covid-19 outbreak as large numbers of people have been laid off from their jobs.
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Fitch Revises Laos’ Outlook to Negative, Affirms Rating at ‘B-‘
Fitch Ratings has affirmed Laos’ Long-Term Foreign-Currency Issuer Default Rating (IDR) at ‘B-‘ and revised the Outlook to Negative from Stable.
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Government Introduces Three-Step Business Start-Up Process
The government has introduced the three-step Business Start-up process for registration of enterprises that will facilitate entrepreneurs, and reduce time and unnecessary costs.
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Work Completed On Laos’ Third Longest Tunnel For Railway Link With China
Work on the country’s third longest tunnel at Namor district in Oudomxay province, which is part of the Laos-China Railway Project and has a length of 9020 metres, has been completed.
Read more Factories, Businesses To Operate Amid Lockdown
Factories and businesses at the heart of the Lao economy will be able to resume their operations amid the extended lockdown ordered by the Prime Minister to combat the Covid-19 pandemic.
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Lao Tourism Income To Decline At Least US$350 Million In 2020
Laos is expecting tourism revenues to fall by at least US$350 million (3,111 billion kip) this year with the sector to cut 2 percent off the nation’s gross domestic product (GDP).
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Thailand Warns Food Delivery Apps For Overcharging Amid Coronavirus Outbreak
Thailand’s anti-monopoly watchdog warned food delivery platforms they could face fines for charging higher commissions
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Trade Deficit Spikes In March
Laos recorded a trade deficit of US$118 million in March, which was higher than the figures for January and February.
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Tax Update: Postponement Of The Filing Due Date of Financial Statements for 2019
The filing due date of the financial statements for 2019 is postponed to 30 April 2020
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Thai Economic Outlook Among Asia’s Weakest
Thailand is preparing to restrict some aspects of daily life after the country’s biggest spike in coronavirus cases, further damaging one of Asia’s weakest economic outlooks.
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Tesco Sells Businesses in Thailand, Malaysia for US$10.6b
Tesco, Britain’s biggest retailer, is selling its businesses in Thailand and Malaysia to Thailand’s CP Group entities for an enterprise value of US$10.6bil.
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Laos To Increase Domestic Distribution Of Electricity
Coverage by the national power grid is still limited due to a lack of funding for power grid development
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Idle Factories, Empty Trade Zone Highlight Coronavirus Impact on Southeast Asia
China-dependent countries feel fallout in tourism, manufacturing, and exports.
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Chinese Allegedly Run Illegal Car Rental and Taxi Businesses in Laos
Chinese entrepreneurs in Laos’ capital Vientiane are allegedly importing vehicles from China illegally for car rental and taxi businesses, much to the ire of their Lao competitors
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Value Of Imports Dips, Trade Deficit Plummets In Laos
The top five categories of imported goods were construction equipment, fuel and gas, items used in industry, electronic products, vehicle parts, and food.
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Laos Growth Resilient Despite Economic Headwinds
Despite a new set of challenges like the long dry season, Covid-19 outbreak, and US-China trade war, Laos looks set to enjoy stable growth of at least 6 per cent, possibly 6.3-6.4 per cent.
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Work On Vientiane Expressway No. 1 Project Begins
Construction of the mega Vientiane Expressway No. 1 officially began yesterday, with the project aiming to ease traffic congestion and respond to economic growth in the Lao capital.
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J&C Group Inaugurates Additional Office Space
With these new offices now-up-and-running, we invite our clients to come and visit us at anytime. The team would be happy to host you and discuss any needs that you may have.
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How’s the Real Estate Market These Days?
How’s the Real Estate Market These Days?
This must be the most common question real estate agents get when meeting people.
Lao Service Sector To Lose US$ Millions From Coronavirus Fallout: Economist
Laos stands to lose US$250 million to US$300 million in first-quarter revenue from the service sector, including tourism, due to fallout from the coronavirus outbreak
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Water Treatment Extension Plant To Boost Supply In Vientiane
The Dongbang water treatment extension plant is to be built in Xaythany district, Vientiane with aid from Hungary
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BOL Launches QR Code Payment Standard
The Bank of the Lao PDR (BOL) makes a soft launch of the Lao QR Code standard for payments
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PM Demands Faster Business Licence Approval
Prime Minister Thongloun Sisoulith told his cabinet to take steps to expedite the approval of investment and business operation licences
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Laos To Open Pang Mon Border Checkpoint Feb 1
Laos will open the Pang Mon checkpoint in Sayaboury province opposite Thailand’s Ban Huak checkpoint in Phu Sang district
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Experts Recommend Policy, Technical Standards For Electric Vehicles In Laos
Experts met to make recommendations on policies and technical standards in the transition from internal combustion engine vehicles to electric vehicles (EVs).
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Laos Dairy Buffalo Challenge
In an extraordinary example of applied capacity building, Australian businesswoman Susie Martin is leading the way in helping one of South East Asia’s poorest countries set about improving its food production systems.
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Handing Over The Reins At J&C Insurance
This week, Mr. Stephan R. Aeschbach handed over the reins of J&C Insurance to Mr. Fabrice Decico.
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Laos Urged To Think Beyond Being A Land Bridge Country
The government must employ concrete measures to implement its policy on transformation of the country from landlocked to a land bridge,
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The New Face Of J&C
J&C Services will now be known as the J&C Group. Under this identity, we have several departments mainly Insurance, Marketing, Real Estate, and Investments, etc.
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China’s Central Bank Signs Currency Settlement Agreement With Laos
China and Laos have signed an agreement on bilateral monetary cooperation to enhance the use of local currencies in trade and investment,
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Power Usage In Laos Predicted To Soar To 1,800MW In 2020-25
The Ministry of Energy and Mines has predicted that the demand for electricity in Laos will increase to 1,800MW during the period 2020-2025,
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Energy And Mines To Remain Key Boosters Of Lao Economy In 2020: Economist
The government should persist with its promotional policy for investment in the energy and mines sectors as they are key income earners for Laos’ economic growth
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Drought, Dams Cause Mekong River In Laos To Turn Unhealthy Blue
A section of the Mekong river in Laos has changed color from muddy brown to blue—a warning sign indicating poor health in Southeast Asia’s most important waterway.
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Lao Banks Partner In Integrated Payment System
The Bank of the Lao PDR (BOL), the country’s central bank, on Monday officially launched the new joint venture Lao National Payment Network Co Ltd (LAPNet) in collaboration with seven major banks.
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Govt Proposes Amendment To Enterprise Bankruptcy Law
Source: Vientiane Times The government has asked the National Assembly to approve an amendment to the Law on Enterprise Bankruptcy,
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S. Korea To Support ‘Logistical Hub’ Campaign Of Laos
South Korean President Moon Jae-in said Tuesday his country will help Laos achieve its goal of becoming a “transportation and logistical hub” in the region.
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Central Bank To Focus On Currency Management Amid Challenges
Laos’ central bank will tackle challenges to ensure the stability of the kip and prevent it weakening further against the Thai baht, and ensure the rate of inflation stays below 5 percent.
Read more Laos Registers Trade Surplus In Q3
Laos has registered a trade surplus, although money transfers are below target.
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Laos’ PM Calls For Cooperation To Address Business Barriers
Prime Minister Thongloun Sisoulith has agreed with the concept of establishing a special taskforce committee, to address unresolved issues relating to the improvement of the business climate
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Lao Gov’t Gets Ready For Opening Of China-Laos Railway In 2021
The railway is currently about 70 percent complete and is scheduled for completion at the end of 2021.
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Onboarding New Marketing Clients
J&C Marketing is glad to welcome Phanthamit Analytical Lab, The Spirit House, and Davina Furniture as our new clients. We are delighted to work for them and help them strengthen their marketing efforts.
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Smart City Project Tops Agenda At Monthly Gov’t Meeting
A plan to create “smart” and “eco” cities in Luang Namtha, and Oudomxay provinces topped the agenda at the government’s monthly meeting
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Trump Supends 40 Billion Baht Worth of Duty Free Trade For Thailand
U.S. President Donald Trump on Friday reinstated duty-free trade for certain items from Ukraine, but suspended it with Thailand.
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Baht To Further Strengthen, Expert Warns
The baht could further strengthen to Bt29 per dollar, a Kasikornbank analyst warned this week.
Read more Laos Needs Support For Transition Out Of LDC Status: UNCTAD
The United Nations Conference on Trade and Development (UNCTAD) will encourage development partners to maintain their assistance to Laos for a while after the nation graduates from Least Developed Country status.
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Thailand Turns To China For High-speed Rail Boost
China has become a major player in the railway industry and, as a result, many countries — including Thailand — are working with China to develop their own high-speed rail networks.
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Laos Plans To Begin Work On Laos-Vietnam Railway in 2021
On behalf of the Lao Government, the Ministry of Planning and Investment and PetroTrade signed a memorandum of understanding on October 15 to study and complete a detailed design of the railway.
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ADB Outlook Expects Moderate Lao Economic Growth
Lao economic growth will remain moderate in 2019 and 2020, as expansion in the industry and services sectors softened in the first half of 2019 due to fewer international visitor arrivals
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UNDP Launches Accelerator Lab
UNDP’s vehicle for fast-tracking development solutions harvests local expertise, identifies grassroots innovations and taps into a global network
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Fund To Boost SME
The government has issued a prime ministerial decree to establish a Small and Medium-Sized Enterprise Promotion Fund, hoping the intervention will boost business access to finance.
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Laos, Trying to Build Its Way to an Economic Boom, Could Be Sunk by Debt
Is Laos on the edge of an economic boom, or a bust?
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Bando Densen of Japan Expands Cable Production To Laos Amid U.S.-China Row
Source: Japan Times Electric wire maker Bando Densen Co. has set up a cable plant in Laos as part of
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Laos’ Economic Prospects Remain Bright: IMF
The International Monetary Fund (IMF) is predicting a favourable outlook for Laos’ economic growth in the upcoming years despite the present difficulties.
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World Bank Urges Laos To Let Kip Follow Market
Source: Vientiane Times The World Bank has recommended that Laos let its currency follow the market as other nations cut
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World Could See Many Water Conflicts In Coming Years
If climate change trends continue and if population continues to increase, water conflicts will probably be an aspect of our future.
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Govt To Issue Bonds To Tackle Fiscal Deficit
The Lao government will try to sell more domestic bonds in the local currency in an attempt to address the fiscal deficit and strengthen the national capital market.
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Myanmar And Lao To Get Infrastructure Boost
Myanmar and Lao PDR look to be the biggest winners of an ASEAN plan to boost connectivity with a series of infrastructure projects.
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Bank Lending Slows Amid Economic Downturn
The injection of bank credit into the economy continues to slow despite government measures to improve the investment climate for the private sector.
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Inflation Spikes In Laos
Laos has steadily faced a higher Inflation rate over the past five months after being pressed by several economic factors.
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Kip Weaker Against Thai Baht, US Dollar
There is growing concern about the strengthening of the Thai baht and US dollar against the Lao kip.
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Ministry To Coordinate Setting Up Of Model Restaurants
The Ministry of Industry and Commerce plans to establish model restaurants in the Lao capital of Vientiane that will serve single dishes at prices set by the authorities.
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LDB Partners Everex To Facilitate Blockchain-Based Cross Border Payments
Lao Development Bank (LDB) and Singapore-headquartered blockchain-based fintech Everex have signed Memorandum of Understanding (MOU) on the initiative.
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Dramatic Upturn In Business Environment Expected: PM
The business environment is expected to improve dramatically in the coming years as the government intensifies action to better facilitate business
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China-Laos Railway Marred By Compensation Issues And Pollution
The new China-Laos railway is spanning the Mekong River and drilling through mountains. So far, many local Laotians are seeing more trouble than benefits from the project.
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1,285 People Involved In Corruption With 999 billion Kip Lost
Some 1,285 people have been found to be involved in corrupt practices, defrauding the government of 999 billion kip
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Lao Trade Figures Struggle To Reach Target
Laos’ combined exports and imports for this year are struggling to achieve the target
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J&C Services To Provide Health Insurance For PACTEC
J&C Services is proud to be the new health insurance provider for all local staff of PACTEC Laos.
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Private Sector Hopes For Easier Business Operation Through Int’l Evaluation
The private sector in Laos is optimistic that trade and investment will be made easier by the public sector following the application of international evaluation standards.
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J&C Services Signs Strategic Partnership Agreement With APA Insurance
The agreement was signed by the APA CEO, Mr Dominick Williams, and founder and CEO of J&C, Mr Stephan Aeschbach, on Friday in Vientiane.
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Telecom Operators Eye Potential Of 5G Network
The Department of Radio Frequency under the Ministry of Post and Telecommunications continued discussions on a roll-out of the 5G network in Laos with internet service providers yesterday.
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Thailand Resisting Falling Into Rail Debt Trap
Despite Thailand’s vow to rely on domestic funding as it expands its network of high-speed railways, it could soon accept the offer of a low-interest loan from the Export-Import Bank of China (CEXIM), raising concerns about whether the country is on the verge of falling into a debt trap.
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Laos’ Trash Problem Is An Ecological Time Bomb
In Laos, newly-empowered consumers are basking in the benefits of the polymer industry without knowing the consequences of their consumption on marine ecosystems.
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Laos’ Eonomic Growth Outlook Stable For 2019, 2020
Economic growth in Laos is expected to remain stable this year and next, supported by the expanding agriculture, energy, industry and services sectors, says a new Asian Development Bank (ADB) report.
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Lao Inspection Reveals 1,002 Cases of Corruption in 2018
As many as 1,225 state investment projects have been implemented unlawfully over the past years, the Government Inspection Authority (GIA) reported this week.
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China’s US$7 Billion Railway Link To Laos Is Almost Half Done, On Schedule To Begin Service In 2021
The 414km railway from Yunnan’s provincial capital of Kunming to the Laotian capital of Vientiane would cut travelling time to three hours, from three days
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Lao Government Considers Tax To Protect Environment
Industries that produce pollution may have to pay more taxes now that the Lao government has embraced the National Green Growth Strategy.
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Lao Banking Industry Updated On Financial Regulations
Source: Vientiane Times The Lao banking sector is working to improve regulations and update preparations for implementing the Basel II
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PM’s visit: Germany Pledges To Help Laos Banish Poverty
Source: Vientiane Times Germany has pledged to increase assistance to Laos for the development of agriculture and the processing industry,
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Laos Expected To Benefit From US-China Trade War
Laos is one of the Southeast Asian nations that may benefit from the ongoing trade dispute between the US and China, but the government should also take steps to improve the investment environment.
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Governmental Decree Stipulates Safe & Healthy Workplaces
Workers have the legal right to require their employers to ensure occupational health and safety, a new governmental decree stipulates.
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Inactive Investors To Lose Land Concession Licences
The government has given the green light for state agencies to revoke land concession licences held by investors who fail to develop state land in accordance with agreements.
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Laos Seeks To Become Electricity Transmitter
AOS is developing a strategic plan to become the network centre for a regional electricity transmission system by 2025.
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Laos Eliminates Tariffs On Most Asean Goods
LAO authorities have reduced import tariffs on 8,536 items to zero as part of national efforts in establishing the Asean Free Trade Area, according to a government report.
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Pakxong Strawberry Farm Has Tasty Treats In Store
Pakxong district in Champassak is one of the few places in Laos that has a temperate climate. The relatively high altitude means the area is suitable for growing a wide range of crops that thrive in cooler weather.
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Australia Approves AUD4.5 Million For Business, Trade Improvement
Laos is now actively working to improve the business environment and facilitate trade as part of supporting the government’s policy to improve the ease of doing business.
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Central Bank Urged To Stabilise The KIP
The Bank of the Lao PDR must introduce more concrete measures to keep the value of the kip stable, otherwise the country will face a big challenge in keeping the cost of living at an acceptable level
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Hairdressing Jobs Earmarked For Lao Citizens Only
The government insists that jobs relating to hair styling for men and women will remain the preserve of Lao nationals as designated by law, despite the many establishments currently being operated by foreign nationals.
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Which Is The Best Country To Start A Business In Asia?
Cambodia, Laos, Myanmar and Bangladesh are the lowest ranked Asian countries in the ease of doing business report
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Laos’ First Ever Specialized Real Estate Investment Show Launches This 1st & 2nd March!
Laorealestate.la, in partnership with the Lao National Chamber of Commerce and Industry (LNCCI) and Laos’ leading online marketplace, www.yula.la, is excited to announce it will be hosting the country’s first real estate investment expo at Don Chan Palace Hotel on Friday & Saturday, the 1st and 2nd of March, 2019.
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New Amended Law On VAT
The key important points to note from the Amended Law on VAT are summarized in this alert.
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Pay The Minimum Wage Or Face Legal Action, Employers Told
Employers in Laos will be subject to legal action if authorities discover they are failing to pay their workers the minimum wage.
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Garment Industry In Laos Continues To Face Challenges
Shortage of skilled labour is chronic, resulting in the reduction of garment exports
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Govt Announces List Of Controlled Businesses
Prime Minister Thongloun Sisoulith has approved a list of businesses that are subject to government control, while also stating that types of business not on the list would find it easier to operate.
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Party Adopts Nine Urgent Measures To Drive Economy
The Central Committee of the Lao People’s Revolutionary Party recently adopted core and urgent measures to drive the macro economy which is currently encountering some difficulties.
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Laos’ Garment Industry Faces Severe Labor Shortage
Garment factories in Laos are experiencing labor shortages as workers are looking to Thailand for greener pastures, sources say.
Read more Laos Expects More Private Investment In 2019
The Lao government expects domestic and foreign private investment to climb to 23,086 billion kip (over 2.72 million U.S. dollars) in 2019
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Govt Places Focus On Tackling Business Constraints
Improving the investment climate, and building a state governed by the rule of law will be the main focus of government activities in the first month of 2019.
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Corruption Still Rife in Laos Despite Continued Crackdown Efforts
The government of Laos says it has been ramping up its efforts to battle corruption over the past two years, but NGOs say that the situation in Laos is getting worse.
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Laos not fully benefiting from regional economic integration: think tank
Laos has not fully benefited from the recent regional economic integration as its share of trade with ASEAN nations has declined, according to the National Institute for Economic Research (NIER), a Lao think tank.
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Electronic Signature Law Will Boost E-Commerce
The government has told the National Assembly (NA) that Laos needs to have an electronic signature law in place to boost E-commerce and facilitate E-governance.
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Private Investment Remains Strong In Laos (Government Report)
Private investment prospects in Laos remain robust despite the nation’s drop in ranking on the World Bank’s Ease of Doing Business Index, according to a government report.
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Villagers Warned Not To Swim In River Near Vientiane
Chemicals released into a river by a Chinese-owned banana farm near the Lao capital Vientiane killed over 300 kg of fish in November, prompting warnings by authorities to local villagers not to bathe or fish in the polluted stream, sources in the country say.
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Chinese-Owned Cement Factories Pollute Lao Villages
Two Chinese-owned cement factories in the Vang Vieng district of Laos’ Vientiane Province are covering approximately 900 local families in at least four villages with dust and smog, threatening their health, local sources say.
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Laos Jails ‘Pyramid Scheme’ Company Owners For 15 Years
A court in the Lao capital Vientiane today handed 15-year prison terms to the owners of a company accused last year of defrauding investors of thousands of U.S. dollars in personal savings, a Lao source says.
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SMES To Be Subject To VAT
Small and Medium Sized Enterprises (SMEs) in Laos must prepare for a new challenge when the government enforces the Law on Value Added Tax (VAT) next year.
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China Pushes Free-Trade Zone in Mekong Region with Thailand, Laos
The free trade zone will also be a way for Thailand and the Mekong countries to profit from China’s flagship Belt and Road initiative.
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Collapsed Lao Dam ‘Was Built On A Sinkhole’
That is the claim of a Stanford University engineering expert who has scientifically analyzed the site of the disaster that likely killed hundreds of Lao villagers
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PM Urges Central Bank To Facilitate Access To Finance
Prime Minister Thongloun Sisoulith has urged the Bank of the Lao PDR (BOL), the nation’s central bank, to pay serious attention to implementing Order No. 02/PM on improving the climate for doing business.
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Asia, Europe Should Cement Cooperation To Narrow Development Gap: Laos
Asia and Europe should strengthen cooperation to narrow the development gap that remains wide, Laos has told the 12th Asia-Europe Meeting (Asem12) in Brussels, Belgium.
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Did Korean Builder’s Corner-Cutting Lead To Lao Dam Disaster?
South Korean lawmaker and liberal newspaper allege that SK E&C altered original plans to maximize profits
Read more Inflation Rate Climbs Above 3 Percent
The Lao inflation rate continued to increase above 3 percent in September despite the government introducing a number of measures to control the price of goods in local markets.
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China’s Belt and Road Hits Bumps in Laos
Chinese economic development strategies need fine-tuning
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Lao Airlines Service Set For Take-Off As Flag Carrier Shifts Focus
Lao Airlines has shifted its primary focus from searching for a business partner to improving service in a bid to make the national flag carrier more competitive
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Provincial SME’s Need Regulatory Burden Relief, Swifter Tax Registration
Authorities need to reduce the regulatory burden or “red tape” that businesses face in conducting their activities due to rules and regulations so that their compliance costs can be cut to increase their efficiency.
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Improved Business Environment To Support Sustainable Growth In Lao PDR
Lao firms and households are expected to benefit from a new US$13-million project, which will promote reforms to the business environment, for instance reducing the number of days needed to start a business.
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Vientiane Airport: International Expansion As China Tourism Booms
Vientiane Airport has doubled the size of its international terminal, supporting a Laotian initiative to boost tourism. Laos expects Vientiane’s international passenger traffic to double over the next five years, driven by a rapid increase in visitor numbers.
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First UK English Language School Opens In Vientiane
Panyathip International School has partnered with the Wimbledon School of English, a British English language school, to officially open the Panyathip Education Centre in Vientiane.
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New Internet Service Provider To Expand Network
Internet users will have a wider choice of service options when the Lao Asia Pacific Satellite Co., Ltd. rolls out 4G wireless throughout the country early next year.
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Laos Continues To Be Target For Money Laundering
Laos continues to face a high risk of money laundering despite the country graduating from the “grey list” of the Financial Action Task Force last year, according to the National Money Laundering and Terrorist Financing Risk Assessment (NRA).
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PM Orders Top Officials To Ramp Up Economic Growth
Prime Minister Thongloun Sisoulith has ordered ministers, the Vientiane mayor and provincial governors to implement eight measures to stimulate economic growth.
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Laos Announces Adoption Of New Asean Tariff Code
The Ministry of Finance in Laos has announced it has adopted a new Asean tariff code, giving a signal that Laos is ready to become part of the single regional market of 600 million consumers.
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The ‘Battery of Asia’ Could Face A Short-Circuit
Shaken by a deadly dam collapse, Laos needs to reconsider its long-term strategy
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Laos’ Main Airport Got Huge Expansion
The international terminal of the airport serving the Laotian capital of Vientiane, Wattay International Airport, can now accommodate as many as 2.3 million foreign travelers a year, roughly nine times the original terminal’s capacity.
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Excise Tax On Internet Use A Barrier, Business Insists
Members of the Lao business sector have recently called for the government to abolish a 10 percent excise tax on internet usage, claiming that Laos remains the only country in Asean to impose the charge.
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Central Bank Faces Challenge In Stablising Exchange Rate
The Bank of the Lao PDR looks set to face a big challenge in keeping the value of the kip against the US dollar stable, as the local market is ignoring the official reference currency exchange rate.
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Laos Registers 570 New Businesses To Half Year
The number of newly registered and expanded businesses in the capital increased almost threefold during the first six months of the year.
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The Great Rail Dilemma Of Laos
Laos having regrets as China’s grand Pan-Asia railway dream sours
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Major To Open New Cinema In Laos
Vicha Poolvaraluck, chief executive of Major Cineplex, said he signed the deal with Thatnakhone Thammavong, president of TK Group and Lao World Plc, an owner of ITECC Mall, to open the new state-of-the-art cinema.
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Pullman Debuts In Laos
The 16-hectare resort overlooks a lush greenery with a backdrop of beautiful mountain views and paddy fields along meandering streams and ponds in the rustic countryside.
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Debt-Ridden Laos Living On Borrowed Money
Public debt is estimated at around 68 percent of GDP and almost half of the money is being borrowed from one source – China.
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Laos’ Tiny Bourse Still Struggles After All These Years
Despite development boom, exchange has listed only 7 companies since 2011 launch.
The Lao Securities Exchange wants to increase the number of listed companies from the current seven to 25 or 35 by 2020, but experts are skeptical.
New Decree Offers Tax Breaks For Investors in Lao SEZs
Domestic and foreign investors will be granted a number of tax breaks under a new amended decree related to specific and special economic zones (SEZs) issued recently by the government.
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Chinese Constructors Complete Foundations Of Mekong River Rail Bridges
The concrete casting for the last pier understructure of LuangPrabangrailway bridge has been successfully completed, laying down all the foundation construction work of the two cross-Mekong River super major bridges along the China-Laos railway.
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Inspection Ordered As Road Toll Bites In Champassak
Champassak provincial authorities will soon order an inspection of Road No. 16 including accurate details on the construction budget as the government contemplates plans to purchase the project rights from the private construction company.
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Billions Allocated To Small, Medium Enterprise Promotion
More than 2,715.8 billion kip will be sourced and allocated for the promotion of small and medium enterprises (SME) to facilitate better access to finance to grow their businesses.
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PM Urges Strengthening Business Sector Through Law Improvement
While giving a guidance talk at the 11th Lao Business Forum on Jul 5, Prime Minister Thongloun Sisoulith emphasized the importance of strengthening the business sector through the improvement of business-related laws and regulations adding that doing so could help achieve the national socio-economic development goals.
Read more Can Laos Realize Its Coffee Dream ?
The Lao Coffee Festival reinforced the growing significance of the coffee industry in Laos and the tiny, landlocked Southeast Asian state’s aspirations to become a major player in this area despite the challenges that remain.
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Laos Sees Growth In Non-Resource Sector
Laos has begun to witness improvements in non-resource exports amid declining mining output and a government policy to boost growth in the manufacturing sector
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Central Bank Removes Foreign Currency Borrowing Restrictions
The removal of barriers to bank lending and borrower withdrawals foreign currencies are set to benefit enterprise in Laos after the Bank of the Lao PDR removed restrictions in this regard, according to an announcement from the central bank.
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MMG Out Of Sepon
The strategic process run for MMG’s Sepon copper-mine in Laos has culminated in the sale of the operation for US$275 million to a Chinese buyer.
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Amended Law Offers No Exception To VAT Charge
All enterprises that have been registered and have obtained a tax ID will have to comply with the Value Added Tax Law.
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Laos Announces Fourth Mekong Dam Amid Fears Of Ecological Disaster
The Mekong River Commission (MRC) announced yesterday that Laos has formally notified the Commission of its intention to construct the Pak Lay dam on the mainstream of the Mekong River.
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Laos Stresses The Need To Borrow As West Raises Debt Alarm
As the only landlocked country in Southeast Asia and one of the least developed ones in the region, Laos seems to have different priorities on growth that are driving it pile on even more debt.
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New Laos IP Law Is A Significant Step Forward For Domestic And International Brands
A new IP law will come into force in the Southeast Asian nation of Laos this weekend, introducing trademark opposition procedures to the country for the first time. The new law also stipulates the creation of a new digital platform for brand rights and expands the range of images eligible for trademark protection in the jurisdiction, among other things.
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New Kasemrad International Hospital To Begin Construction
Work has begun on the construction of the new Kasemrad International Hospital Vientiane (KIH Vientiane), the largest private hospital in Laos, with an expected completion date in two years’ time.
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New Flights To Boost Links Between Laos and China
Laos and China on Monday officially set in motion a new air route between the two countries, aimed not only at boosting tourism but also other areas of cooperation.
The new flight will carry tourists and other travellers between Vientiane and Luang Prabang province in Laos and Hainan province in China.
Govt Urged To Speed Up Privatisation Of Unprofitable Enterprises
Lao economists have urged the government to accelerate the privatisation of state enterprises that have been underperforming, as part of measures to improve its financial position.
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Bank Credit Injection Into Lao Economy In Decline
The injection of bank credit into the Lao economy has been on the decline after reaching a peak over the past several years, according to economists.
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Eyeing Business Potential In Laos: Indonesia
Laos is an ASEAN member country in the heart of the Indochinese region, which has economic potentials and is opening up itself for cooperation with other countries.
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Lao Government Launches New Push Against Corruption
Lao government officials have launched a new push against corruption in the one-party communist state, with state inspection authorities stepping up investigations across the country and reporting in February that they had discovered up to $120,000 missing from state funds, sources in Laos said.
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Vientiane-Vung Ang Railway To Cost More Than US$5 billion
More than US$5 billion is needed to build a railway linking Vientiane to a seaport in Vietnam’s Ha Tinh province, Vietnamese media reported on Friday, citing study results.
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Four-Month Revenue Collection Amounts To Only 20 Percent Of 2018 Target
The collection of revenue throughout the nation over the past four months has reached 5,297 billion kip, equal to only 20.81 percent of the figure targeted for the whole of 2018.
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Economic Growth ‘Manageable’ Despite Possible Impact Of China Slowdown: Analysts
The predicted economic slowdown in China, one of the top three foreign investors in Laos and an important trading partner, could affect the Lao economy, the government’s economic analysts have warned.
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