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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Investments
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 moreLaos 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.
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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 moreLaos 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 moreInflation 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.
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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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Vangvieng Slated To Become Official Tourism Town In 2020
Vientiane province’s Vangvieng district will officially be declared a tourism town in 2020 in terms of natural and cultural attractions, as part of the government’s efforts to promote the tourism industry.
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Laos Needs To Prepare For LDC Graduation: Economists
Lao economists have called on the government to pay more attention to preparations for the country’s expected graduation from the least developed country (LDC) status, to ensure sustainable development.
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Govt Approves Minimum Wage Increase
The government has approved a minimum wage increase from the present 900,000 kip to 1.1 million kip a month, according to the Prime Minister’s Office.
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Laos Loses Millions Of Dollars Due To Overvalued Projects
The construction cost of many projects with State investment have been found to be too expensive and exceeding the realistic value, inspectors have confirmed.
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Energy And Mines Growth Boost Laos
The Lao government says the country will earn increased revenues from the energy and mines sector this year on the back of continued growth.
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Laos On A Fast Track To A China Debt Trap
Beijing-backed US$6.7 billion high-speed railway project threatens to bust the small nation’s already fragile finances
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Inland Container Depot Opens In Northern Laos To Facilitate Trade With China
A Lao company has officially opened an inland container depot (ICD) at the Boten Specific Economic Zone (SEZ) in Laos’ northern province of Luang Namtha.
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Is Hermetic Laos Poised For More Openness?
Next month marks Lao Prime Minister Thongloun Sisoulith’s second year in power, a role few Communist Party apparatchiks have grasped with so much aplomb.
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Despite Impressive Economic Growth, Investment Climate In Laos Remains Challenging: World Bank
In the 2018 Doing Business report, Lao PDR was ranked 141 out of 190, down from 139 the previous year.
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Laos’ Investment Outlook for 2018
Landlocked by Myanmar, Cambodia, China, Thailand, and Vietnam, Laos is among the poorest economies of the world. Yet, in terms of gross domestic product (GDP), the economy continues to soar. Over the last decade, Laos has sustained an average growth rate of 7.8 percent, relatively higher than its neighboring countries.
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Lao Gov’t Promotes Investment In Potential Projects
The Lao government has compiled a list of potential development projects to attract domestic and foreign investment. According to the list, local and foreign investors are invited with 27 projects in six provinces out of the country’s 18 provinces or cities
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Rule Of Law Key To Strengthening Laos’ Competitiveness
Laos has to strengthen the rule of law if it wants to become a competitive investment destination, according to a report from the World Bank.
“The country (Laos) faces issues that include weak regulatory effectiveness, control of corruption and rule of law,” the 2018-Doing Business in the Lao PDR report highlighted in its key findings.
Tourism And Development Threaten Laos’ French Traditions
It remains a jewel of French colonial architecture, you can savor some of the best croissants and baguettes east of Paris here, and even toddlers still learn the language of their bygone rulers. Luang Prabang, tucked into a river valley in the heart of Laos, survives as one of the last bastions of the old French Indochina.
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Lao Firms Identify High Tax Rates As Investment Constraint
Lao enterprises have highlighted the perceived unprofessional practices of firms in the informal sector and high tax rates as the top constraints in investing in the country, according to a report from the World Bank.
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Green Light For Tourism Complex Development In Vangvieng; Casino Pending Approval
A Chinese company is beginning construction of a more than US$200-million tourism complex at the disused airfield in Vangvieng district. The project will include a five-star hotel, a modern private hospital, a public park and a planned casino.
Read moreLao Factory Owners Say Proposed Wage Hike Will Shutter Businesses
Owners of garment factories and other businesses in Laos are rejecting a proposal to raise the minimum wage by as much as one-third, saying the increase in expenses would force them to shut down operations, despite reports of workers seeking opportunities elsewhere due to low pay and high living costs.
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Japan Still Beating China in Southeast Asia Infrastructure Race
Source: Bloomberg China may steal all the headlines when it comes to its infrastructure push across Southeast Asia, but data
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22 Companies Invest in Thakhek Specific Economic Zone
Twenty two local and foreign companies have signed agreements with relevant authorities to invest in the Thakhek Specific Economic Zone (TSEZ) since 2012.
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Chinese Investors Need Visa Issues Addressed
Laos and Chinese investors discussed several issues on the investment environment in Laos with the participants urging solution to issues related to visa issuance, low rubber prices and limited access to financial assistance.
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Debt-Ridden Laos Living On Borrowed Money
The current turmoil in the Asian markets, which has been going on 20 years after a much bigger disaster: the Asian financial crisis, began with the collapse of Thailand’s currency – the Baht – and spread across East Asia.
One of the contributing factors was high public debt in the affected countries, including Laos.
Laos-China Railway ‘20.3 Percent Complete’, Compensation Still Unpaid
Construction of the 409-km Laos-China railway was 20.3 percent complete as of December 2017 after a whole year of operations, Lao authorities in charge said last week.
The US$5.986 billion project has a re-scheduled completion date of
Remove Unnecessary Barriers To Improve Business Climate
Deputy Prime Minister Dr Sonexay Siphandone has urged the Ministry of Industry and Commerce to accelerate improvement of the business climate by cutting the number of days it takes to register a business.
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How To Protect Your Intellectual Property In Laos
As Lao PDR’s economy grows and more companies begin conducting commercial activities here it will become increasingly important for businesses to protect and maintain their competitiveness in the market. A company’s failure to effectively protect its IP or to restrict infringement of its IP can lead to the loss of market share, revenue, reputation, opportunity and competitive advantage.
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Vientiane Vows To Improve Investment Climate To Drive Growth
The Vientiane administration has vowed to improve the investment climate to attract more private investment and facilitate business operations as part of measures to achieve 10.5 percent economic growth.
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BigBlue Wins Contract For Visit Laos Year 2018
The Ministry of Information, Culture and Tourism (MOICT) has recently signed an agreement with BigBlue Agency Laos awarding them the preferred rights to setup all billboards related to the Visit Laos Year 2018 Campaign.
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Will Costs Continue To Cage Laos’ Regional Connectivity?
Laos is among the fastest growing economies in Southeast Asia: economic growth has averaged 7.8 per cent over the past decade. Despite the slow recovery of the global economy, the country’s growth rate was 6.9 per cent in 2017 and is expected to be 7 per cent in 2018. This is buoyed by an expansion in electricity production, manufacturing and agriculture, and it occurs despite a slight drop in tourist arrivals.
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China Pours Billions In Aid And Investment Into Laos
As work progresses on a high-speed railway linking Laos with China, Beijing is pouring billions of dollars in aid and investment into its poorer neighbor to fund other projects, pulling it closer into China’s orbit, sources say.
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Public Park Planned For Vientiane City’s Riverside
Vientiane authorities have agreed to the creation of a green lung for city residents and visitors in the form of a public park along the Mekong River in Sisattanak district.
The 31,500 square metre site is located behind the Don Chan Palace hotel and adjoins Chao Anouvong park.
Laos Dances To Survive Between China and Vietnam
While often portrayed as a pliant client to its larger neighbors, Vientiane’s balancing act is more astute than widely recognized
With its sparse 6.7 million population, land-locked Laos is often cast as a passive victim of pell-mell Chinese expansionism, a rich source of raw materials its giant neighbor craves and a virtual truck stop on the way to Thailand and the more prosperous countries of mainland Southeast Asia.
Chinese Investors Launch Multimillion Dollar Real Estate Project
Source: KLP Two Chinese companies Wen Hao and Zhongtuo Guangfu have launched a multimillion dollar real estate project which will
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Vientiane Seeks Investors To Build Expressway
Vientiane authorities are seeking entrepreneurs to invest in and build the planned 15-km expressway linking the city to its north-eastern outskirts in Xaythany district.
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Cabinet Orders Urgent Action To Improve Investment Climate
The government cabinet has ordered authorities in charge to speed up streamlining procedures to ease business operations and improve the investment climate.
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Minimum Investment Requirements Eliminated On Foreign Owned Business
On November 7, 2017, the Lao Ministry of Industry and Commerce issued a formal notice, No.2633/MOIC, to all its offices across the country to fully recognize and abolish the capital requirement foreign owned general businesses.
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Chinese Developers Abandon International Airport Project in Laos
An international airport project scheduled for construction by a Chinese developer in northwestern Laos’s Bokeo province has been canceled so that an airport built earlier in the province may be upgraded instead, sources say.
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American Pacific Resources Partners with Lao Company to Develop a 67,000-acre Gold Mining Project
PHI Group, Inc., (www.phiglobal.com) (OTCQB:PHIL), a company focused on mergers and acquisitions and investments in natural resources, energy, agriculture, and special situations, announced today that its subsidiary American Pacific Resources, Inc. (“APR”) (https://aprgold.com/) has signed a Business Cooperation and Investment Agreement with a Lao company to develop a 67,000-acre gold mining project in the Province of Savannakhet, Laos.
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Heavy Debt Load In Laos
Slowing economic growth and mounting financial obligations have the communist country’s foreign debt distress risk running on high
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Chinese President Xi Jinping To Visit Laos
Chinese President Xi Jinping will make a state visit to Laos from November 13-14, the Lao Ministry of Foreign Affairs said in a new release.
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Tackling Power Blackouts Key For Growth Of Business Sector
Economists have called for the government to address power failures and blackouts in a move to further improve the business environment in Laos.
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Holiday Inn & Suites Vientiane To Open 2019 In Laos
InterContinental Hotels Group signed a management agreement with BIM Group to develop the first Holiday Inn hotel in Vientiane, Laos. This will be IHG’s third project with BIM Group.
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Trillion Kip Spent Unlawfully: State Top Auditor
More than one trillion kip of state spending without approval from the National Assembly (NA) has been uncovered, the state top auditor told the parliament this week.
Read moreLaos Prints Its Largest, Longest Sovereign Bond Issue
The Lao People’s Democratic Republic successfully completed its largest and longest bond issue, with a 14 billion baht ($419 million) six-tranche offering in the Thai debt capital markets.
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More Investment In Human Resources Needed: Laos
While the Asia-Pacific region is experiencing population ageing at an unprecedented rate, the growing number of young people in Laos can provide a significant momentum in driving economic growth.
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B Grimm Goes Big With Power Projects In Laos
B GRIMM POWER has taken an aggressive move in building and operating hydropower plants in Laos. The company officially opened on Friday the Xanamnoy 2 and Xekatam 1 hydropower plants in Champasak province that shares a border with Thailand’s Northeastern Ubon Ratchathani province.
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Kolao Breaks Ground With Thai Bond Issue
Laos-based Kolao Group has become the first private company from that country to tap the Thai corporate bond market, raising US$25 million in a private placement today.
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Chinese Firm To Build US $40 Million Elephant Conservation, Breeding Center In Laos
A Chinese state-owned enterprise said on Saturday that it will build a U.S. $40 million elephant conservation and breeding center in northwestern Laos’ Sayaboury province and develop it into a for-profit tourist attraction by the end of the year.
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Chinese Investor Acquires Majority Stake In ETL
China’s Comba Telecom has vowed to provide Lao users with improved service and mobile experiences after it successfully acquired a majority stake in Laos’s ETL Public Company and stepped up its management improvement efforts.
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Phu Bia Mining Continues Impressive Production
PanAust Limited, Phu Bia Mining’s parent company, has reported continued high-performance production outcomes for the Phu Kham Copper-Gold and Ban Houayxai Gold-Silver Operations in its quarterly report for the three months to Jun 30, 2017.
Read moreLao Airlines shares for sale ?
Lao government says it is ready to recruit new stakeholders for Lao Airlines as part of its efforts to overhaul state-owned enterprises.
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The Lao-Singapore Tax Treaty/DTA is Now Effective
In case you missed it, Singapore’s reputation as an attractive holding company location for investments into Lao PDR recently went up a notch: after being signed way back in February 2014, the long-awaited tax treaty/double taxation agreement between Lao PDR and Singapore (the “DTA”) became effective on 1 January 2017.
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Bank Credit Growth Slowdown Due To Dawdling Construction Sector
Business loans given to private companies have not increased this year since the government limited finance granted to developers for carrying out infrastructure projects.
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Logistics Giant Linfox Signs With Vientiane
LINFOX has today become the first foreign logistics company to operate in Laos with the signing of a joint venture with the Lao Logistics Group in Vientiane.
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Arbitration in Laos
The choice of arbitration as a dispute resolution mechanism has risen in popularity as a time and cost-effective option to resolve commercial disputes. By including an arbitration clause in contractual arrangements, contracting parties may agree in advance on the seat and rules of arbitration, the size of the arbitration panel and even the rules to ….
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Sell Baht Now: Credit Suisse
Investors who have overseas exposure should take advantage of the baht, which is close to this year’s highest level, by swapping the local currency for the US dollar, says Credit Suisse Thailand.
Read moreLaos Cuts Maximum Concession Period To 50 Years
Laos’ newly-amended Investment Promotion Law has moved to cut by half the maximum investment period for new concession projects to 50 years, down from the previous maximum period of 99 years.
The move is aimed at maximizing investment benefits for the Lao economy, an official from the Ministry of Planning and Investment involved in …
New Investment Law Offers Incentives
A newly-amended Investment Promotion Law has recently been promulgated, offering a variety of incentives to attract investment in both promoted sectors and hardship areas.
Businesses investing and operating in hardship communities (known as Area I),where infrastructure has not yet been developed, will enjoy favourable profit tax exemptions over ….