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.
Read More
Finance – Banking – Money
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
Read More
Lao Government Slaps Wrists of 7 Vientiane Officials for Public Project Fraud
Source: RFA Seven high-ranking current or formal officials in Laos’ Vientiane province have been warned and publicly identified for their
Read More
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,
Read More
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.
Read More
Lao Vehicle Market Forecast To Grow This Year
The vehicle market in Laos is likely to accelerate in 2019 as the government has improved its trade promotion policy and car manufacturers are offering incentives to boost sales.
Read More
J&C Services Awarded Excellent Agent
During its annual agent celebration at Muong Thanh Luxury Hotel, Lanexang Assurance awarded J&C Services for our exceptional performance in 2018.
Read More
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.
Read More
Pay Road Tax 2019 Or Face A Big Fine
Large fines meted out by authorities on slow paying vehicle owners are forcing more to pay their road tax on time and helping to fill the government’s coffers
Read More
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.
Read More
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.
Read More
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.
Read More
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.
Read More
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.
Read More
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
Read More
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.
Read More
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
Read More
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.
Read More
New Amended Law On VAT
The key important points to note from the Amended Law on VAT are summarized in this alert.
Read More
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.
Read More
Garment Industry In Laos Continues To Face Challenges
Shortage of skilled labour is chronic, resulting in the reduction of garment exports
Read More
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.
Read More
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.
Read More
Laos’ Garment Industry Faces Severe Labor Shortage
Garment factories in Laos are experiencing labor shortages as workers are looking to Thailand for greener pastures, sources say.
Read More
App-facilitated Land Tax Payment Service Launched
The Department of Tax has launched a system that ensures land tax payment is bank-based, safe, and fast.
Read More
Laos Expects More Private Investment In 2019
The Lao government expects domestic and foreign private investment to climb to 23,086 billion kip (over 2.72 million U.S. dollars) in 2019
Read More
Scoot Launches New Laos Route From Perth
Fly from Perth, via Singapore, to Luang Prabang and Vientiane from $189 each way.
Read More
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.
Read More
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.
Read More
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.
Read More
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.
Read More
Inequality Exposed: Thailand
The economy expert Banyong Pongpanich was studying recent statistics last week when he made an interesting discovery.
Read More
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.
Read More
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.
Read More
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.
Read More
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.
Read More
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.
Read More
Govt Sets Measures To Boost Foreign Reserves
The government is planning to purchase foreign currencies from various sectors as part of measures to boost foreign reserves, according to a government leader.
Read More
Lao Companies Enjoy Success At Asean Business Awards
The 12th Asean Business Awards (ABA) Gala Dinner took place on the night of November 12 last week, shining a spotlight on some of the many successful enterprises from a variety of industry sectors from across the region.
Read More
Online System Boosts Road Tax Revenue
The revenue earned from taxes has increased massively since the government introduced an online payment system.
Read More
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.
Read More
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
Read More
China Starts Exporting Petroleum To Laos
With over 64 ton diesel, handed over from PetroChina to a Lao company at Laos-China border, the first export of Chinese refined oil to Lao market was made on Wednesday.
Read More
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.
Read More
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.
Read More
Did Korean Builder’s Corner-Cutting Lead To Lao Dam Disaster?
South Korean lawmaker and liberal newspaper allege that SK E&C altered original plans to maximize profits
Read More
Inflation Rate Climbs Above 3 Percent
The Lao inflation rate continued to increase above 3 percent in September despite the government introducing a number of measures to control the price of goods in local markets.
Read More
China’s Belt and Road Hits Bumps in Laos
Chinese economic development strategies need fine-tuning
Read More
Maybank Foundation Expands Silk Weaving Centre In Laos
Maybank Foundation has expanded its Maybank Women Eco-Weavers centre in Laos with the addition of a hostel for the women who are being trained in this traditional skill.
Read More
Heat And Drought Could Threaten World Beer Supply
A new study says a warming globe will be bad news for barley, an essential ingredient in the world’s most popular alcoholic beverage.
Read More
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
Read More
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.
Read More
Lao Tax: Everyone Who Travels Pays
Sources at the friendship bridge said there were no exceptions and the tax applied to all foreigners regardless of their travel documents, include foreigners who are resident in Laos.
Read More
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.
Read More
Laos Slaps A Dollar Tax On Tourists
Almost forgotten but on the brew for years the much talked about tourist tax was quietly introduced at all of Lao PDR’s border checkpoints 1 October.
Read More
New Lao Airlines Chief Navigates Flag Carrier Toward Future
Lao Airlines welcomed a significant leadership change yesterday that comes as the government moves to transform the state-owned enterprise into a more efficient and competitive one.
Read More
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.
Read More
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.
Read More
J&C Celebrates A Decade Of Success
Wednesday Night, J&C Services Celebrated our 10th anniversary surrounded by over 150 guests on the grounds of the J&C office compound. We are exceptionally proud of the services we have been offering expatriates in Laos for the past decade.
J&C Services is a fast growing business continuously searching for better and more unique products for our clients. At the beginning of this year, we expanded our activities to include a marketing department.
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.
Read More
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).
Read More
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.
Read More
Chinese Tourist ‘Invasion’ Feared As High-Speed Laos-China Railway Will Boost Visitor Numbers Dramatically
Trepidation about a huge influx of Chinese tourists into the small Southeast Asian country – with a population of just 6.8 million – was heightened last year when construction was started on the high-speed Laos-China Railway.
Read More
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.
Read More
Govt Seeks To Plug Financial Leaks, Loopholes
All loopholes that could result in financial leaks must be plugged in order to ramp up national revenue, Deputy Prime Minister Somdy Duangdy told finance officials recently.
Read More
Thai Banks ‘Prepared’ Amid Warning Of Global ATM Attack
Commercial banks in Thailand have boosted security to prevent unauthorised access to their automatic teller machines as cybercriminals are reportedly planning to carry out a large-scale global ATM attack.
Read More
The ‘Battery of Asia’ Could Face A Short-Circuit
Shaken by a deadly dam collapse, Laos needs to reconsider its long-term strategy
Read More
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.
Read More
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.
Read More
Lao Fuel Price Double World Market Average
The average fuel price in Laos is more than double than the global price
Read More
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.
Read More
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.
Read More
The Great Rail Dilemma Of Laos
Laos having regrets as China’s grand Pan-Asia railway dream sours
Read More
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.
Read More
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.
Read More
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.
Read More
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.
Read More
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.
Read More
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.
Read More
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.
Read More
PM Urges Strengthening Business Sector Through Law Improvement
While giving a guidance talk at the 11th Lao Business Forum on Jul 5, Prime Minister Thongloun Sisoulith emphasized the importance of strengthening the business sector through the improvement of business-related laws and regulations adding that doing so could help achieve the national socio-economic development goals.
Read More
Illegal Vehicle Import Crackdown Ordered As Tax Avoidance Raises Ire
The Ministry of Finance has warned that it will impose stronger legal actions against any owners of imported vehicles evading taxes and tariff payments to the government.
Read More
Can Laos Realize Its Coffee Dream ?
The Lao Coffee Festival reinforced the growing significance of the coffee industry in Laos and the tiny, landlocked Southeast Asian state’s aspirations to become a major player in this area despite the challenges that remain.
Read More
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
Read More
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.
Read More
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.
Read More
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.
Read More
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.
Read More
Reminder: Pay Road Tax 2018 Latest By End Of June
The deadline for 2018 road tax payments is June 30 this year.
The finance ministry warned that those failing to pay by the deadline would be fined 40 percent of their obligated road tax rates.
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.
Read More
First Certified Crypto Exchange In Laos Launches: Vientiane Exchange Money
Laos makes a move towards increasing its crypto-friendliness. The new development has brought the first-ever crypto exchange with an official certification in Laos. The exchange’s name is Vientiane Exchange Money, and it will only offer seven currencies – digital and traditional, at least for the time being.
Read More
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.
Read More
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.
Read More
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 Piloting Single-Window Customs Clearance For Vehicles
The government is piloting the Lao National Single Window (LNSW) scheme at international border crossings, seeking to speed up customs clearance for vehicles and link the country to the Asean single window system.
Read More
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.
Read More
J&C Services Awarded For Outstanding Performance For Its J&C Elite Care Health & Life Insurance Plan
During its annual agent meeting & celebration, Lanexang Assurance awarded J&C Services for their outstanding performance in 2017.
Stephan R. Aeschbach, owner of J&C Services, proudly accepted the award. “We are thrilled to receive this recognition for our performance” said Mr. Aeschbach, “we truly believe that providing a valuable service to our customers begins with creating a trusted partnership with our providers.”
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.
Read More
BOL Warns Public About Unauthorised QR Code Payments
The Bank of the Lao PDR (BOL) is warning the public about illegal QR code payment services being offered by banks or financial institutions that have not been granted permission by the BOL.
Read More
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.
Read More
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.
Read More
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.
Read More
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.
Read More
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.
Read More
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.
Read More
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.
Read More
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.
Read More
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.
Read More
Laos Maintaining Growth Momentum For 2018, 2019: ADB
The nation’s economic growth is likely to be sustained this year and accelerate next year, while inflation will edge up according to the Asian Development Bank (ADB).
Read More
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.
Read More
Thailand’s Top Banks To Waive Off Digital Transaction Fees
Thailand’s four largest banks have decided to waive off digital transaction fees to retain retail customers as new channels for online payments and electronic wallets are being launched in the country.
Read More
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
Read More
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.
Read More
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.
Read More
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.
Read More
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.
Read More
BCEL In QR Code Payment Service Tie-up With Thai Bank Thanachart
MID-TIER lender Thanachart Bank has joined with Laos’ largest bank by assets, Banque Pour Le Commerce Exterieur Lao Public (BCEL), to provide a cross-border QR code payment service for Laotians visiting Thailand.
Read More
One Trillion Kip In State Assets Misappropriated In Past Year
Over 1 trillion kip was siphoned off last year in the implementation of development projects through the violation of laws and financial disciplines by government bodies and the private sector.
Read More
Thailand Unveils New Banknotes With King Rama X
THAI currency is getting a facelift, with new banknotes to feature the face of King Maha Vajiralongkorn, also known as Rama X.
Read More
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
Read More
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.
Read More
Unloved Kip Stays On Outer Despite Lao Push
Many business people and ordinary savers still deposit money in foreign currencies despite increased efforts by the Bank of the Lao PDR to promote the use of the national currency, according to data from the central bank.
Read More
Pay Taxes Or Face Closure, Thousands Of Businesses Warned
Vientiane authorities have warned 3,039 enterprises to pay taxes and declare their business plans, with the threat of closure hanging over them if they fail to comply.
Read More
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.
Read More
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 More
Lao 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.
Read More
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
Read More
Authorities Call For Vehicle Owners To Pay Road Tax 2018
Authorities have announced that 2018 road tax can now be paid and the Ministry of Finance is calling on vehicle owners to pay their obligations to the nation.
Read More
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.
Read More
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.
Read More
ANZ Shuts Laos Retail Products And Services
Australia and New Zealand Banking Group said on Thursday it would close its retail products and services in Laos to focus on its institutional banking business in the Southeast Asian country.
Read More
Govt Hikes Excise Tax On Fuels, Alcohol, Tobacco & Entertainment Services
The government has imposed more taxes on fuel and other goods and services as authorities increase efforts to collect additional revenue to meet set targets.
Read More
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.
Read More
Govt Resolves Illegal Import Of Thousands Of Vehicles
The government last year documented and processed the paperwork for 11,030 vehicles and motorbikes that had been imported unlawfully, according to an official report.
Read More
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.
Read More
Maybank Expands Women Eco-Weavers Programme To Laos
Maybank Group through its Corporate Responsibility arm, Maybank Foundation, has expanded its “Maybank Women Eco Weavers” programme to Laos making it the third country in Asean to have such an initiative.
Read More
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.
Read More
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.
Read More
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.
Read More
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.
Read More
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
Read More
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.
Read More
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.
Read More
BCEL Launches Cashless Payment System In Laos
Banque pour le Commerce Exterieur Lao Public (BCEL) has launched a new service called ‘OnePay’- a mobile phone app that allows users to pay anyone, anywhere, directly from their account by simply photographing a QR code.
Read More
High-speed Rail Project Will Force Thousands of Lao Families to Relocate
More than 4,400 Lao families are being forced to relocate to make way for the U.S. $6 billion Lao-Chinese high-speed railway whose construction began nearly a year ago as part of a longer rail project that will link China to mainland Southeast Asia, a public works ministry official said.
Read More
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.
Read More
Govt Committed To Recovering Unpaid Taxes
The government will strive to collect taxes owed by businesses after they failed to pay them during the first six months of this year, according to a government report.
Read More
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.
Read More
Laos Central Bank Eyes Cooperation With Neighboring Countries
The Bank of the Lao PDR (BOL) will enhance bilateral banking cooperation with the central banks of China, Cambodia, Vietnam and Thailand to ensure better management of payments in foreign currencies at international checkpoints.
Read More
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.
Read More
Heavy Debt Load In Laos
Slowing economic growth and mounting financial obligations have the communist country’s foreign debt distress risk running on high
Read More
Govt Vows To Retrieve Billions Lost To Misuse, Illegal Imports
The government has entrusted authorities in charge to carry out inspections into 45.53 million litres of oil that was imported for a state investment project but was never actually used for that project.
Read More
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.
Read More
Road Tax 2017 Now Due
Road users are now being asked to pay the road tax for 2017 after delays in making changes to the payment system have extended almost to the end of the year.
Read More
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.
Read More
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.
Read More
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 More
Finance Ministry Unveils 10 Measures To Boost Revenue For 2017
The Ministry of Finance has announced it will implement 10 significant measures for the rest of the year to achieve the projected target of collecting revenue worth 23.48 trillion kip.
Read More
Beware Of Illegal Transactions By Fake Banks, Public Warned
The Bank of the Lao PDR has warned members of the public to beware of unauthorised bank accounts after learning that some people have been tricked into making transactions with fake banks.
Read More
Laos 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.
Read More
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.
Read More
Road Tax 2018 …. updated
The President of Laos, Mr Bounnhang Vorlachit, in an official announcement has informed today about the Road Tax fees for 2018.
Read More
New State Projects Threaten Budget Blowout
New project proposals for 2018 submitted by State sectors and provincial authorities threaten to incur costs higher than the government’s financial capacity, a senior official has noted.
Read More
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.
Read More
Cuts Made In Public Contributions To Road Fund
Vientiane authorities have offered to significantly reduce the public’s contribution to the Vientiane People’s Road Fund following widespread complaints about the costs involved.
Read More
Numerous Revenue Leak Loopholes Remain, Govt Told
A number of loopholes remain that are resulting in leaks undermining revenue collection, members of the National Assembly (NA) told the government yesterday.
Read More
Ceiling For Social Security Contributions Raised
In line with the policy to adjust the maximum ceiling of the insurable earnings under the National Social Security Fund (“NSSF”) framework at five times the minimum wage set by the Government of Lao PDR and adjusted from
Read More
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.
Read More
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.
Read More
Want To Invest In Laos? This Is Why You Shouldn’t
Laos is one of the fastest growing nations in Asia. Strong exports and a burgeoning service sector helped its economy surge by 6.8% in 2016. The Asian Development Bank predicts even faster GDP growth of more than 7% going forward.
Meanwhile, foreign investment in Laos …
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.
Read More
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 More
Government Introduces Customs, Tax, Fee E-Payments
The Lao government is upgrading payment methods for customs, tax, and other fees at the international customs checkpoint nationwide.
The Ministry of Finance together with …
Illegal Vehicle Importation Chased Up
Vientiane authorities have resolved a significant number of cases of illegal car imports and import tax avoidance over the past six months, recovering funds due to support the nation’s budget.
The 382 vehicles seized in the capital were …
Lao 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.
Read More
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.
Read More
US Dollar, Thai Baht Appreciation Increasingly Impacting Lao Economy
The US dollar and Thai baht have continued to appreciate against the Lao kip over recent weeks, sparking concerns that the currency fluctuation could further drive up prices of products sold in Laos.
Read More
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.
Read More
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.
Read More
TohLao Coworking Opens Space For Startups
The TohLao Coworking Space has officially launched its new office under the brand “Toh X” which is looking to drive the country’s startup business growth.
Read More
Benefits From Integration Elude Laos
Although the Asean Economic Community has resulted in increased economic activity between Laos and other countries in the regional bloc, the nation still must overcome numerous challenges to benefit from regional economic integration.
Read More
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 ….
Read More
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 More
Laos 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 ….
China Top Foreign Investor In 2016
China overtook Vietnam to reclaim the number one position as the largest foreign investor in Laos last year.
China’s investment last year soared to over US$1 billion compared to US$88.9 million in 2015 while Vietnam’s investment decreased by US$4.5 million in 2016 after registering US$466 million in 2015.
Most of the investments are focused on the hydropower, mining and ….
Why It’s Time To Comply: Internal Regulations For Workplaces In Laos
The Labour Law (2013) came into effect on 28 October 2014, repealing and replacing the previous Labour Law (2006) and introducing a number of significant changes relating to the basic rules of employment in Lao PDR. As the Labour Law is now well into its third year in force, we consider one of its more significant yet often overlooked legal requirements for employers in Lao PDR – internal regulations or “work rules” of the workplace for employees.
Read More
These Are The Fastest Growing Economies In East Asia In 2017
The Philippines is just one growth engine for the region stretching from Japan to Singapore, and infrastructure booms are just one source of booming economies. Here are the countries that the World Bank projects will grow fastest in East Asia and the Pacific this year:
1. Laos. This impoverished country with a strict Communist government will grow 7% this year because of investment in the …
Young People Line Up For Startup Presentations
Source: Vientiane Times The government is encouraging an increasing number of young people to enter the business world, especially those
Read More
Lao Province Issues Banana Ban
Authorities in the northern Lao province of Bokeo suspended the operations of 18 Chinese-backed banana plantations after they discovered widespread violations of the regulations governing the use of agricultural chemicals, government officials told RFA’s Lao Service.
“It has been a problem for the environment as the Chinese companies destroy the environment with their heavy use of chemicals,” a provincial official told ….
China’s New Silk Road Is Getting Muddy
With the future of U.S.-China relations an open question for the incoming Donald Trump administration, many have focused on whether the president-elect’s promise to withdraw from negotiations over the Trans-Pacific Partnership (TPP) will enhance Beijing’s growing influence in East Asia. But rather than hand-wringing over TPP’s ignominious failure, Asia watchers should turn their attention to …..
Read More
Number Of New Entrepreneurs Drops
The number of entrepreneurs registering businesses in Laos declined by 13 percent over the past 10 months of this fiscal year compared to the same period last year.
According to a recent government report, the number of registered businesses reached 1,666 units from October 2016 to May 2016 with registered capital amounting …..
Trade Surplus Predicted For 2016
The total value of goods, imports and exports to Laos is expected to see an overall trade surplus of an estimated US$73 million at the year’s end, with data currently available for the first nine months of 2016.
The value of exports is expected to reach US$4.081 billion or 10.29 percent over the plan while the value of imports is expected to reach US$4.008 billion, or 76 percent of the plan, according to ….
Central Bank Permits Importers To Borrow In Foreign Currency
The Bank of the Lao PDR has permitted commercial banks to release loans in foreign currency to importers, including those who currently have no income in foreign currency.
The central bank issued a decision recently to relax borrowing restrictions, which previously allowed only those having income in foreign currency to borrow in ….