While economic growth in the Lao PDR contracted in 2020 for the first time in over two decades, the economy is set to recover in 2021 and in the medium term, provided the impact of the COVID-19 pandemic is contained and business can resume with trading partners
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The unemployment rate in Laos skyrocketed to 20 percent in 2020, a 10.6 percent increase compared to the figures for 2017, and the global Covid-19 outbreak was the main factor for the sharp increase in the number of jobless in the country.
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The Consumer Price Index (CPI) in Laos continues to rise despite the government’s enhanced measures to control the prices of products in local markets.
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Inthanin Coffee claims to be environmentally friendly, with a total of 690 outlets in Thailand and eight overseas. The business is run by BCP’s wholly-owned Bangchak Retail Co.
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The developers expect to spend more than US$47 million to create tourism activities alongside environmental conservation measures undertaken by the Khamphay Sana Group.
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Laos’ state-owned postal enterprise is looking forward to working with its newly-signed partner, ZTO Express, a China-based provider of services including express delivery, logistics and e-commerce, to upgrade the skills of IT personnel as well as build capacity in other areas.
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Several areas of Vientiane have been designated for development as “smart zones” through the use of Information, Communication and Technology (ICT) in the development of the capital.
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All vehicles using the newly-opened Vientiane-Vangvieng expressway must pay the set toll rates, except in the case of an emergency or accident, when specially designated ambulances can enter free or charge.
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The China-Laos railway tracks have successfully extended from Lao capital Vientiane to northern Laos’ transport hub Luang Prabang on Tuesday, thus accomplishing all the construction targets set at the beginning of 2020.
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Vientiane authorities have pledged to carry out 30 large-scale development projects from now until 2025 in a bid to accelerate the capital’s economic growth.
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The Enterprise law and the Law on Independent Audit are the main laws that establish audit requirements in Laos.
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Not only natural persons (individuals) but also legal persons, such as companies, NGOs, associations, and foundations operating in the Lao PDR, now face criminal liability under new legislation enacted by the government aimed at strengthening the rule of law in the country.
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Motorists will now have the convenience of travelling from Vientiane to Vangvieng in an hour following the opening of a new expressway linking the capital to the popular tourist destination on Sunday.
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The government and private sector are partnering to promote the development of electric vehicles to encourage the use of clean energy and reduce greenhouse gas emissions.
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The Consumer Price Index (CPI) has dipped in recent months after inflation peaked at 6.94 percent in January.
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The upcoming Made in Laos 2020 fair, to be held at Lao-ITECC in Vientiane from December 25 to January 3 next year, will be used as a platform to spur domestic consumption and to promote a range of “Made in Laos” goods.
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Authorities have postponed the opening of the 113.50-km expressway linking Vientiane and Vangvieng as work on the project is not yet fully complete.
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New streetlights along seven main roads in the capital have given the city a bright new feel amid preparations to celebrate National Day on Wednesday.
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Laos reported a record US$729 million in imports and exports in October this year, with the value of exports put at US$347 million and the value of import calculated at US$382 million.
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The government has cited five reasons for its spiralling public debt over the past five years, which is continuing even though measures have been introduced to address it.
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The Fourth Industrial Revolution is a train that you either get on or you’ll find yourself being left far, far behind.
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RCEP includes China, Japan, South Korea, Australia, New Zealand and the 10 members of the Association of South East Asian Nations (ASEAN)
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The government is optimistic that the economy will grow by 4-4.5 percent next year despite complex global changes and Laos’ financial difficulties.
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The banlao.la Homes, Loans, and Lifestyle Expo will see 100+ companies under one roof at the NCC in Vientiane Capital and is set to welcome 10,000+ guests from across Laos, the ASEAN region, and Mainland China
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The Lao government has pledged to remove barriers and further improve the business climate in a bid to attract more investment from Laos and foreign countries.
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The first section of electrical high-voltage power cable for China-Laos Railway has been successfully laid in position.
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The Lao government has announced that it will manage and address public debt in various ways as it seeks to ease the country’s financial tensions.
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‘Inadequate’ foreign exchange reserves, a widening current account deficit, contingent liabilities from public–private partnerships, poor governance — including weak institutional capacity and corruption controls — and constrained political freedoms that limit accountability have all contributed
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Incomers are expected to spend a shorter time in quarantine; Authorities are also considering the use of electronic tracking devices
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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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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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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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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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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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Construction of the Laos-China railway is progressing as planned despite the obstacles posed by the Covid-19 pandemic.
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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 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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The primary gold project is expected to generate about US$30 million in government revenue and economic benefits
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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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The country’s foreign exchange reserves have fallen below $1bn, less than Laos’ annual debt payments
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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 Telecommunications Public Company (Lao Telecom) has officially launched the 5G system, which is the first network in Laos.
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The first 7-Eleven-branded convenience store in Laos is expected to be open in Vientiane
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The country is still facing a huge trade deficit
Read more 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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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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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 have become one of the most difficult issues for authorities in the national capital because of growing demand for land
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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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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’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 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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The project will focus on Promotion of Strengthening Regional Structures for Small and Medium Enterprise Promotion in Asean.
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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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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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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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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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The Covid-19 crisis resulted in an indefinite delay for the project to build the largest private hospital in Laos.
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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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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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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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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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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 (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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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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The value of coffee exported by Laos increased as the price of local coffee beans was better this year
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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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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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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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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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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 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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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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39 days no infections prompts gradual reopening of int’l borders
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Laos will be hard-pressed to meet its external debt obligations
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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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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 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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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 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 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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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’s anti-monopoly watchdog warned food delivery platforms they could face fines for charging higher commissions
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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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The filing due date of the financial statements for 2019 is postponed to 30 April 2020
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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, 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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Coverage by the national power grid is still limited due to a lack of funding for power grid development
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China-dependent countries feel fallout in tourism, manufacturing, and exports.
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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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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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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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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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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?
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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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The Dongbang water treatment extension plant is to be built in Xaythany district, Vientiane with aid from Hungary
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The Bank of the Lao PDR (BOL) makes a soft launch of the Lao QR Code standard for payments
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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 will open the Pang Mon checkpoint in Sayaboury province opposite Thailand’s Ban Huak checkpoint in Phu Sang district
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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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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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This week, Mr. Stephan R. Aeschbach handed over the reins of J&C Insurance to Mr. Fabrice Decico.
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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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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 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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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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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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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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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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Source: Vientiane Times The government has asked the National Assembly to approve an amendment to the Law on Enterprise Bankruptcy,
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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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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 has registered a trade surplus, although money transfers are below target.
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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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The railway is currently about 70 percent complete and is scheduled for completion at the end of 2021.
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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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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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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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The baht could further strengthen to Bt29 per dollar, a Kasikornbank analyst warned this week.
Read more 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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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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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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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’s vehicle for fast-tracking development solutions harvests local expertise, identifies grassroots innovations and taps into a global network
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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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Is Laos on the edge of an economic boom, or a bust?
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Source: Japan Times Electric wire maker Bando Densen Co. has set up a cable plant in Laos as part of
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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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Source: Vientiane Times The World Bank has recommended that Laos let its currency follow the market as other nations cut
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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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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 PDR look to be the biggest winners of an ASEAN plan to boost connectivity with a series of infrastructure projects.
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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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Laos has steadily faced a higher Inflation rate over the past five months after being pressed by several economic factors.
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There is growing concern about the strengthening of the Thai baht and US dollar against the Lao kip.
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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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Lao Development Bank (LDB) and Singapore-headquartered blockchain-based fintech Everex have signed Memorandum of Understanding (MOU) on the initiative.
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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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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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Some 1,285 people have been found to be involved in corrupt practices, defrauding the government of 999 billion kip
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Laos’ combined exports and imports for this year are struggling to achieve the target
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J&C Services is proud to be the new health insurance provider for all local staff of PACTEC Laos.
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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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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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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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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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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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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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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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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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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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Source: Vientiane Times The Lao banking sector is working to improve regulations and update preparations for implementing the Basel II
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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 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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Workers have the legal right to require their employers to ensure occupational health and safety, a new governmental decree stipulates.
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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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AOS is developing a strategic plan to become the network centre for a regional electricity transmission system by 2025.
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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 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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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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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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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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Cambodia, Laos, Myanmar and Bangladesh are the lowest ranked Asian countries in the ease of doing business report
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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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The key important points to note from the Amended Law on VAT are summarized in this alert.
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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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Shortage of skilled labour is chronic, resulting in the reduction of garment exports
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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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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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Garment factories in Laos are experiencing labor shortages as workers are looking to Thailand for greener pastures, sources say.
Read more 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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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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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 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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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 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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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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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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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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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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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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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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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 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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South Korean lawmaker and liberal newspaper allege that SK E&C altered original plans to maximize profits
Read more 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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Chinese economic development strategies need fine-tuning
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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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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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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 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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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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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 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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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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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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Shaken by a deadly dam collapse, Laos needs to reconsider its long-term strategy
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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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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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