Laos Debt at ‘Critical Level’ with China Payments Still Opaque
Laos’ public and publicly guaranteed debt stands at 123% of GDP as of 2023, according to the International Monetary Fund.
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Lao Economy
Food Prices Affect Families in Lao PDR Despite Easing Inflation
Most household incomes are failing to keep pace with inflation, causing families to cut spending on food, health, and education.
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Laos Economy in Distress as Kip Breaches 20,000 to US Dollar
The Lao kip has continued to depreciate against foreign currencies, reaching a historic low today in international markets.
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Weak KIP Continues to Drive Inflation
The cost of living is continuing to rise due to the depreciation of the kip…
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July Inflation Rate Slows Down, Yet Remains High
The year-on-year inflation rate slowed down in July, according to the latest report from the Lao Statistics Bureau.
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Specific Measures Needed to Curb Inflation: BOL chief
The central bank governor explained that the surge in the cost of goods and services in Laos is closely linked to the depreciation of the kip.
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Changing Perceptions In Laos Toward China – Analysis
Take a deeper look at this analysis on how it is changing perceptions in Laos towards China.
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Laos Ready to Issue THB 3.61 Billion Bonds to Fund National Development
The Ministry of Finance of Lao PDR is prepared to issue THB 3.61 billion bonds to fund the state’s national development towards a sustainable future.
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Laos Faces Labour Shortage as Living Costs Skyrocket
Lao people seeks jobs in the neighboring countries, resulting in labor shortage in Laos.
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Has Laos Ensnared China In A ‘Creditor Trap?’ – Analysis
What if Laos has equally caught Beijing in a “creditor trap?”
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GDP Grows by 4.8%: Minister of Planning and Investment
In the first six months of 2023, production and service sectors have enjoyed constant growth with GDP, higher than expected by the National Assembly,
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Business Sectors Seek Urgent Solution to Rampant Inflation
Business operators have called on the government to seek urgent solutions to tackle soaring inflation
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Lao, Chinese Businesses Seek to Boost Economic Activity and Promote Trade
Laos and China trading seek additional boost for Economic activity and trading.
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Laos’ Tourism-Driven Economic Recovery Hinges on China
Expert saw economic recovery through tourism but afraid of the risk of being too reliant on its northern neighbor.
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Young Laotians Eye Thai Election’s Potential for Stability and Higher Migrant Wages
Thai election has been a source of chatter – online and offline – in neighboring Laos, where many merchants rely on a stable Thai baht
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President Appoints Committee to Drive Digitalization Process
President Thongloun Sisoulith has appointed 22 senior government officials as members of a National Committee on Digital Transformation.
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Inflation Dips to 38.86% in May, Remains Unacceptably High
The year-on-year inflation rate dropped for the third month to 38.86 percent in May
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Investment in Concession Projects Drops, but Newly Registered Businesses Increase
While investment in concession operations and special economic zones dropped in Laos last year, the number of newly registered businesses has increased significantly
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Human Capital Investment Essential to Develop Laos
The Lao government is committed to improving the quality of basic education, enrolling all children and keeping them in school, and improving education financing.
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Govt. Outlines Actions to Bolster Fragile Economy, Address Rising Crime
Prime Minister Sonexay Siphandone, the one-day meeting called for action to address barriers currently hindering progress in the tourism industry, which is a key economic driver and a major earner of foreign currency for Laos.
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Economic Growth Projected at 4.5% This Year But High Risks Remain: Lao Researchers
Lao researchers are optimistic about the growth of the Lao economy, which is projected to expand by 4.5 percent this year amid global economic challenges.
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Young People Favour Jobs in Thailand as Living Costs Skyrocket in Laos
Rampant inflation in Laos and the depreciation of the kip, motivates young people to seek jobs in Thailand,
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Central Bank: Dragging Inflation Down to Single Digit a “Greatest Challenge”
Dragging inflation down to an average of single digit as targeted for this year, is the greatest challenge.
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ASEAN Leaders Vow to Boost Economic Recovery
ASEAN leaders reaffirmed their commitment to bolster economic recovery and address issues facing the region.
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Central Bank Pursues Robust Measures to Stabilize the KIP
The Bank of the Lao PDR will continue to implement stringent controls to stabilize the value of the kip and ease the burden caused by the spiraling cost of living.
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First Quarter Inflation Rate Hits 40.85%
The rate of inflation recorded in Laos in the first quarter averaged 40.85%, one of the highest rates in the region.
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Lao Economy Projected to Grow at 4% this Year: IMF
The IMF projected that Laos will see economic growth despite global economic uncertainty.
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High Spending Over Lao New Year Could Drive Up Inflation
Economists are concerned that a surge in spending by households and offices over Lao New Year could drive up food prices even further
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Inflation Remains Sky High at 41% in March
Inflation rate remains 41% high last March 2023 according to report.
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Laos PM Seeks More Investment from China
Laos PM has requested help from the leaders of Yunnan province to encourage more Chinese companies to invest in Laos.
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Rampant Inflation at Home Driving Lao Workers Across the Border
Lao workers are flood crossing the border to find jobs in Thailand.
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Cabinet Intensifies Action to Stabilise Economy
The Lao government is intensifying their action to revitalize its fragile economy.
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Laos Imposes Price Controls to Curb Inflation, But Merchants Say They’re Losing Money
As inflation soars, officials will enforce controls on 23 items with fines and jail time.
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Job Fair Set to Boost Job Creation and Employment Networks
The organizing committee of the “Ready 4 Work” Fair 2023 is expecting a large number of participants.
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Laos Records First Trade Surplus of $48million for 2023
Laos registered the first-ever trade surplus of 2023 in February
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Inflation Hits New High of 41.3%
The year-on-year inflation rate is continuing to rise, soaring to 41.3 percent in February.
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Laos Hopes That Business Will be Booming Again Soon
The country is looking forward for the boom of the businesses as more tourists starts to enter.
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Sithandone’s Khaen Twin Towers Construction Kicks Off
A groundbreaking ceremony was held for Khaen twin towers of the Sithandone Special Economic Zone in Khong, Champassak.
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Bank of the Lao PDR Regulates Currency Exchange Rates in Bid to Stabilize the Economy
BOL has issued a new decision on the setting of currency exchange rates, as a guideline for commercial banks trading in foreign currencies.
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Lao Kip Boosts Travel; High-Speed Train Brings More Tourists to Thailand
The number of Chinese tourists visiting Vientiane in Laos, Nong Khai, and Udon Thani in Thailand has increased now.
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Laos, Cambodia Further Strengthen Bilateral Cooperation
Bilateral cooperation has been constantly promoted to strengthens area such as national defense and public security, economy and trade.
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Australia Eyes Closer Economic Engagement with Laos
Business and economic connectivity is set to be one of the key drivers of growth between the two nations in upcoming years.
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January Inflation Rate Soars to New High of 40.3%
Year-on-year inflation in Laos jumped to 40.3 percent in January, the highest rate in 23 years, according to the latest report from the Lao Statistics Bureau.
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5th Thai-Lao Friendship Bridge Connecting Bueng Kan with Bolikhamsai to Open in 2024
5th Thai-Lao Friendship Bridge connecting Bueng Kan with Bolikhamsai to open in 2024
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How To Register A Business: Laos Goes Online To Ease Start-Up Process
The steps needed to register a new business have now been posted online to ease business start-up, which will save time and simplify the process.
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Meat Prices Rise Further With No Sign Of A Fall
The price of beef, pork and farmed fish on sale in markets is continuing to rise, with no sign of a pending decrease given the weak kip and high inflation rate.
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No Progress On Northern Highway Sections, There Are Many Outstanding Tasks
Although its construction has been surveyed and studied for many years, the highway project has not progressed.
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More Money Needed For Payment Of Debt, Salaries, Development Schemes
The payment of government officials’ salaries, investment in development projects and repayment of debts constitute the largest portion of government expenditure allocated for 2023
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EDL Spells Out Measures To Resolve Debt Problems
The Reform Committee of Electricite du Laos (EDL) will roll out four measures aimed at resolving the company’s debt issues
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More Than 1,200 People Cross Laos-China Border In 2 Days
China has eased Covid-19 control measures after almost three years of travel restrictions
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Expressway Tolls Rise In Line With Kip/Dollar Exchange Rate
The Laos-China Expressway Development Cooperation Co., Ltd. recently announced the new toll rates, which have resulted in numerous comments on social media from people already struggling to cope with with rising prices.
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Govt To Mobilise More Funds To Repay Debts, Address Fiscal Deficit
The government plans to mobilise 41.15 trillion kip to address the projected fiscal deficit and repay domestic and overseas loans by the end of 2023
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Despite High Economic Growth, Job Creation In Laos Remains Limited
Laos has recorded one of the highest rates of economic growth in South-East Asia over the past two decades, but few jobs have been created.
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Covid-19 Insurance Now Mandatory For Foreign Workers In Laos
A new regulation issued by the Ministry of Public Security sees all foreign workers entering Laos required to purchase Covid-19 insurance.
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Inflation In Laos Soars To Its Highest Rate At 39.27% In December
In December 2022, Laos set a new record for the highest inflation rate of the year
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Laos Sets Economic Growth Target Of 4.5% For 2023
Despite the global economic downturn, the National Assembly of Laos has set an economic growth target of at least 4.5% for 2023
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Govt Eyes 14.6% Revenue Increase From Tariff-Fees In 2023
To achieve this goal, the Ministry of Finance has pledged to modernise customs management systems at the main border checkpoints as part of efforts to plug loopholes resulting in financial leaks
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EDL Appoints Key Officials For Enterprise Reforms
“It is hoped the newly appointed officials will contribute to stronger business performance and get familiar with the new rules, conditions and environment for the reform process and apply the newly restructured working methods”
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China To Scrap COVID Quarantine Rule For Inbound Travellers
China will stop requiring inbound travellers to go into quarantine starting from Jan. 8
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Straw Hut Village Is New Tourist Attraction in Muang Fuang
A straw hut village has opened in Meuang Feuang district, Vientiane province, as a new tourist attraction in this increasingly popular bucolic riverside retreat
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Govt Eyes Tighter Regulation Of E-Commerce With Eye To Increased Revenue
The government is looking at ways to derive more financial benefit from e-commerce, hoping to better manage and develop this form of business in order to earn more revenue.
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Laos’ Inflation To Fall Sharply In 2023: ADB
The Asian Development Bank (ADB) has forecast that the inflation in the Lao People’s Democratic Republic (Lao PDR) will average 23% in 2022 before falling to 10% in 2023
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Govt Struggles To Regulate Currency Exchange Rates
The continuing depreciation of the kip is creating a major roadblock in the government’s efforts to rein in inflation
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Ministry Outlines Plans To Tackle Flooding In Vientiane
The Ministry of Public Works and Transport is looking at ways to resolve the city’s perennial flooding problem which, despite years of promises, has not improved.
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Gov’t Targets Reduced Inflation Rate Of 9 Percent In 2023
Skyrocketing inflation is causing great hardship and people are desperately wondering how they can survive as prices across all categories hit record highs.
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Improve Key Factors To Boost Tourism Industry, Economist Suggests
“Most importantly, more inbound flights should be started and the number of countries eligible for visa-free travel should be increased.”
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Loss Of Freshwater Dolphins Kills Tourism Industry In Southern Lao Province
A plan to bring a pair of the mammals from Cambodia to breed in Laos has made no headway.
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LTS Ventures Wins Global FINTECH Award
A microfinance platform helps to financially include 850 villages in Lao PDR
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Southeast Asia’s Russian Dilemma As Summits Loom
Southeast Asian countries look set to maintain ties with Russia as a trio of global summits loom, despite United States-led efforts to isolate Moscow over its Ukraine invasion
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China Remains Laos’s Largest Export Market
The main exports included copper, rubber, bananas, cassava and other agricultural products
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Lao Farm Products To Hit Shanghai Markets Under CIIE Deal
China has become a key export market for Lao goods, especially agricultural produce, following the opening of the Laos-China Railway at the end of 2021.
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Police Tackle Human Trafficking In Bokeo
The current situation in Laos mostly involves people being tricked into forced labour, forcing them to provide sexual services, hiring pregnant women, and the live broadcasting of male and female nudity and sex on social media
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Inflation Rate Jumps To 36.75 Percent In October
The price of food and non-alcoholic beverages has surged by 38.8 percent year-on-year, driven by the rising price of rice and other daily food items such as pork, poultry, fish, seafood, eggs, vegetable oil, fruit and vegetables
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Are Laos’ New Railways A Solution To Its Lack Of Trade With The West?
Transport costs are not the only problem facing the country, but reducing them could help spur progress in other areas.
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New Freight Station On The Laos-China Railway in Oudomxay Province Is Set To Boost Regional Trade
All seven freight stations on the Laos-China Railway are now operational following the opening of Xay station in Oudomxay province on Tuesday.
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Thailand Looking To Benefit From Spill Over Of Laos China Rail Link
The Association of Thai Travel Agents (Atta) believes that about 3 million Chinese tourists may use the almost 423 km long electrified railway that runs between the Lao capital of Vientiane and Boten town in northern Laos bordering China.
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Travel Magazine Cites Laos As One Of Top Places To Visit
Laos was listed behind Norway, Malé, Los Angeles, Slovenia and Barbados, which all got special mention at www.wanderlust.co.uk.
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Spiraling Inflation Forces Lao People To Cut Expenses
Residents in Lao capital tighten their belts by giving up buying trendy things, spending money wisely, growing vegetables and using domestic products to beat the spiraling inflation which hit a 22-year high in September.
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Laos, S. Korea Partner In Employment Of Lao Nationals In Seasonal Agriculture
Laos & S. Korea have signed a Memorandum of Understanding (MOU) on cooperation in relation to the dispatch of Lao nationals for seasonal employment in agriculture and fishery in Korea
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Health Ministry Admits Low Uptake Of Covid Booster Shots
Although 72 percent of the population have had two Covid vaccinations, only 14 percent have had a booster dose, the Ministry of Health has revealed.
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Brighter Future For Tourism As Visitor Numbers Soar
Statistics show the average visitor on a group tour stays for 2.5 days and spends about US$45 per day. In contrast, an individual visitor stays …
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Money Exchange Units Banned From Selling Foreign Currency
Under the new policy, money changers will be allowed to buy foreign currencies from customers but are forbidden to sell currencies other than kip
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Laos Launches Study On Electric 2-Wheelers
The Study examines the financial viability and environmental sustainability of implementing a battery swapping system model for electric two-wheelers in Vientiane, to help achieve the government’s 2030 target of 30 percent electric vehicle penetration
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ADB Projects Steady Recovery For Lao Economy In 2023
The Asian Development Bank (ADB) believes the Lao economy will see a gradual recovery next year, supported by new investment and higher renewable energy and mining output.
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Lao Central Bank Places New Banknotes In Circulation
The new banknotes can be used alongside the old 2003 notes, which will remain in circulation and can be used as normal.
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Companies Plan To Hire More Employees In 2023: Survey
The survey indicates that businesses main need are for accountants, followed by sales staff.
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Lao Economy Projected To Grow At Only 2.2 Percent This Year: IMF
The IMF’s downgraded growth for Laos is linked to both external and internal factors, with the report forecasting that global growth will decrease from 6.0 percent in 2021 to 3.2 percent in 2022 and 2.7 percent in 2023.
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50 Percent Of World’s Poorest Need Debt Relief To Prevent Major Crisis
Fifty-four developing economies, including Laos, that account for more than half of the world’s poorest people need urgent debt relief as a result of cascading global crises
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Inflation In Laos Hits 22-Year High
Inflation rate in Laos surged from 30.01% in August, 2022, to 34% in September
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Local Drivers Chafe At Costly Fees At Lao-China Railway Station
Drivers are charged high fees to enter the station even to deliver or pick up passengers.
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First-Ever Cryptocurrency Business Kicks Off In Laos
The bitqik platform provides full brokerage and trading services in cryptocurrencies and other digital assets, both within Laos and the region.
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World Trade Growth To Slow Sharply In 2023
World trade is expected to lose momentum in the second half of 2022 and remain subdued in 2023, as multiple shocks weigh on the global economy
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Weak Kip Harming Lao Economy
The currency devaluation is having a damaging effect on the Lao economy, driving up the price of products and creating more hardship for the poor.
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Lao Coffee Brand Wins Asian Award
Lao Mountain Coffee’s peaberry blend has won first place in the Continental Awards for Asia coffee competition.
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Laos-China Railway To Operate Normal-Speed Train Soon
The Laos-China Railway plans to begin operating ordinary train service to ease the rising demand for train travel, especially at the weekend.
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Some 700 Malaysians Trapped In Laos After Answering Casino Job Ads
Some 700 Malaysians are reportedly being held captive in Bokeo province, Laos and have been abused by the resort managers who are allegedly demanding a large ransom for their release
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Thailand Fully Reopens From 1st October
Vaccination proof/ATK test result no longer needed, while period of stay in the kingdom is extended to 45 days for tourists entitled to visa exemption and to 30 days for Visa on Arrival.
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Slower Growth Projected For Lao Economy: World Bank
Economic performance in Laos could be compromised by slowing global demand, rising debt, and a reliance on short-term economic fixes to cushion against food and fuel price increases
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Typhoon Noru To Bring Heavy Rain, Thunderstorm To Most Of Laos
Typhoon Noru is expected to hit the central and southern provinces of Laos today, bringing heavy rain and thunderstorm to most of the country
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Govt Pledges To Tackle Public Debt, Price Increases
The government has vowed to further address mounting public debt and the vulnerability of the macroeconomy to prevent the country from being dragged into default.
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Laos, Thailand, China To Build New Railway Bridge For Freight
Laos, Thailand, and China are thinking about building a new railway bridge, running parallel to the first Lao-Thai friendship bridge
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Economic Recovery In Laos Delayed Due To Rising Prices, Supply Disruptions: ADB
The Asian Development Bank (ADB) has lowered its 2022 economic growth outlook for Laos to 2.5 percent from 3.4 percent projected in April and to 3.5 percent from 3.7 percent for 2023.
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PTT Focuses On Sustaining Its Business Operations
The company’s policy is linked to the unfavourable global economic outlook and continuing depreciation of the kip, which are impacting on businesses in Laos.
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Rail Operator To Provide Overnight Parking At Vientiane Station
The Laos-China Railway Company Limited has announced that it will provide overnight parking and toilet facilities at the station in Vientiane.
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Weeks After Tropical Storm Ma-On Batters Northern Laos, Residents Struggle To Recover
Hundreds of people are displaced amid widespread damage in Oudomxay province
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Laos Limits High-Ranking Government Officials To Only 2 State-Owned Vehicles
Prime Ministerial Decree 599 demands excess vehicles be returned in push to rein in corruption.
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Low Income Earners Concerned About Food Expenses
People with low incomes across the country are concerned about their growing expenses on food following a steep rise in the prices of agricultural and food products.
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Innovation Through Collaboration
DiscoverLaos and J&C Group have recently formed a new strategic partnership
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Laos-China Rail A Boon For Thais
Cross-border tourism flows increase, and fresh goods exports find new markets
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Major Thai Agencies Predicting Repeat of Bangkok’s “2011 Great Flood” – City Will Disappear Altogether By 2100 Unless Govt Acts
Some of the direst warnings in more than a decade have been issued from two major Thai sources regarding severe flooding this year in Bangkok, the Thai capital.
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Fitch Plans To Withdraw Ratings Of Laos
Fitch Ratings plans to withdraw the ratings on Laos in approximately 30 days from the date of this commentary for commercial reasons.
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Claims Of Default In Laos Are Bankrupt
Geo-economic factors mean that the concerns about Laos defaulting are unrealistic.
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Ride-Hailing Firm’s EV Answer To Inflation In Laos
“The EV is one of the keys to fight inflation,” Loca chief executive Souliyo Vongdala tells the Straits Times.
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Govt To Reform Lao Airlines
The government has set up a committee to carry out business reforms in the state-owned Lao Airlines to ensure that the national flag carrier becomes self-sustained in financial management.
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Lao Commerce Ministry Registers Rise In New Businesses
Retail and wholesale outlets together with car and motorbike repair businesses accounted for 29.4 percent of all new business registrations in the first six months of 2022.
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Thousands Affected By Floods In The North
Thousands of people in northern areas of Laos are suffering after rivers flooded following several days of heavy rain.
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Laos Meets Target Of Vaccinating 80% Of Population Against Covid-19
Source: TheStar A total of 5,885,061 Lao people have had one dose of a Covid-19 vaccine, equaling 80.2 per cent
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Laos’ Trade Deficit Reaches US$114 Million In July
The main importing countries of Laos include Thailand, China, Vietnam, the United States, and Japan.
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Luang Prabang Is Top Favourite With Thai Tourists
The town of Luang Prabang, which is renowned for Unesco’s listing of its old quarter as a world heritage site, has seen 90 per cent of room reservations made by Thai visitors since Laos lifted all entry restrictions in May.
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Laos Welcomes 42,197 Tourists In First Six Months Of 2022
Laos has seen a surge in the number of visitors following the lifting of travel restrictions in January as the Covid-19 pandemic subsided.
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Lao Govt Approves Tax Cut On Diesel To Ease High Prices
Removal of the excise tax charged on diesel is in response to a request from fuel businesses and importers, who are struggling source sufficient funds to buy fuel.
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Inflation In Laos Rises To 25.6 Pct In July
The higher prices of fuel and consumer goods and the continuing depreciation of the Lao currency kip are among the main factors driving the inflation.
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Govt Fights Extravagance, Promotes Frugal Spending
The government has outlined measures to reduce extravagance and promote austerity, to cut waste and ensure effective use of the state budget for the intended purpose and the maximum benefit of the nation.
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The HIV Response Is In Danger, The Promise Of Ending AIDS Is Under Threat
The human cost of a stalled HIV response is chilling. Globally, more than 1.5 million people became infected with HIV last year. That’s 4,000 people every day, more than a quarter of them young people aged 15-24.
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Vangvieng Takes Steps To Address Complaints Around Overpricing
As tourists return to Laos, with many coming from Thailand, there have been complaints about the high prices charged at some hotels, guesthouses and restaurants.
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Association: Fuel Supply Will Be Normalised In The Near Future
The government is holding talks with the Lao Fuel and Gas Association over the possibility of importing another shipment of fuel, as it is expected that current stocks will be depleted by the end of this month,
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Lao Migrant Workers Send Home Millions Of Dollar This Year
During the first six months of this year, Lao nationals working in other countries transferred millions of US dollar in remittances to Laos, with most of the money going to their parents.
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Laos Plans To Import Fuel From Saudi Arabia
The Lao government is committed to ensuring that sufficient supplies of fuel are provided to meet public demand and boost economic growth after a countrywide fuel shortage in May and June caused widespread disruption.
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Laos Among Countries With Highest Inflation In SE Asia
Laos has one of the highest inflation rates in the region, with the price rise recorded 23.6 percent year-on-year in June, according to ADB
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Rail Operator Increases Train Services
The lack of seats and the difficulty in obtaining tickets led passengers to make complaints on social media about the problems encountered, with many people having to wait for hours in long lines to buy tickets. This forced the company to expand its services.
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Will Laos Be Sanctioned For Embracing Russia?
The West has pressed Laos to ditch Russia and support its sanctions but the SE Asian nation has stayed true to its old Cold War ally
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Section II Of Lao-Thai Railway Delays Opening
The Phase II of the project comprises a 7.5km extension of the railway from the Thanalaeng station at the Thai border to the Vientiane station.
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Govt Pledges To Stabilise Macro Economy
The government pledged to ensure sufficient fuel is available by pursuing market-based mechanisms, saying this would minimise damage to the economy and small-scale commercial production.
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Just Scan To Pay: S’pore And 4 SEA Countries To Link QR Code Payments By Nov, Bypassing USD
The central banks of five Southeast Asian (SEA) countries have agreed to link their payment systems by November of this year, in order to allow for easier transactions for travellers within the region.
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People Call For Steps To Prevent Cheating Of Tourists In Luang Prabang
A number of Lao social media users have called on authorities to take immediate action to prevent the cheating of foreign visitors by some vendors at popular tourist destinations such as Luang Prabang.
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Soaring Prices Put Squeeze On Low-Wage Earners
The year-on-year inflation rate hit 23.6 percent, the highest figure ever recorded since May 2000.
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Developing Asia’s Economic Outlook Downgraded As China Growth Slows
The Asian Development Bank (ADB) has lowered its economic growth forecast for developing Asia including Laos to 4.6 percent this year, from 5.2 percent projected in April.
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Laos Dam Leaks Normal, Says Thai Partner
Reported leaks at the sides of the Nam Theun 1 Hydropower dam under construction in Laos were not a cause for concern and were normal when a dam began storing water
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Chinese Investors Buy Up More Land In Laos
Land surrounding a new railway station in the capital is in high demand, sources say.
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Laos To Raise Minimum Wage From August 1
The monthly minimum wage in the country will be increased to 1.2 million kip (US$78) starting on August 1.
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Why China Can’t Let Laos Default
Laos faces intensifying economic and financial crises and there is likely no way out without some form of a Chinese bailout or debt forgiveness.
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Lao Fishermen Return To Malaysia, Despite Risks
Few of the fishermen are there legally, leaving them vulnerable to exploitation
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Why A Monopoly Like The Lao Electricity Company Is Making Losses
Electricite du Laos (EDL), a monopoly company which should generate a significant amount of revenue from its dominance in the energy market, has been operating at a loss for many years and has accumulated huge debts.
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Foreign Ministry Takes Steps To Tackle Lao Passport Debacle
There has been a surge in passport applications since the government reopened the country for international travel in January.
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A Fuel Shortage Is Driving Laos — Which Is On The Brink Of A Debt Default — To Seek Out Cheap Russian Oil
Russian gas is 70% cheaper than supplies from other international sources, according to Nikkei, citing local media.
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Inflation Hits 22-Year High Of 23.6 Percent
The inflation rate in Laos hit 23.6 percent year-on-year in June, the highest figure ever recorded since May 2000 as surging prices of energy and consumer goods continue to deepen hardship and create new pains for the Lao public.
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New Rail Link To Speed Up Logistics, Transport Operations
A track change station was officially opened at the Vientiane Logistics Park on Friday, creating an official link between the Laos-China Railway and the Laos-Thailand Railway.
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PM: Embezzlement, Lax Management Key To Losses By State Enterprises
Embezzlement by executives and staff, combined with poor management, are the main reasons for the chronic losses suffered by state enterprises, the Prime Minister has told the National Assembly (NA).
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PM: Govt Mulls Curbs On Imports To Save Foreign Currency
The premier said changes to the quantity of vehicles, alcoholic beverages and other imported luxury items would be considered, so that shrinking foreign currency reserves could be kept for essential goods.
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Lao Authorities Rescue Nearly 500 Workers From Golden Triangle SEZ
Many of the workers are human-trafficking victims lured to the Chinese-run special economic zone for jobs.
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Laos Installs New Central Bank Chief, Limits FX Sales
Laos lawmakers on Monday approved the appointment of a new central bank chief and two deputy prime ministers
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Laos Gives Green Light For Investment In EVs
The government’s policy for promoting EVs includes zero percent tariffs, an excise tax of only three percent and a value-added tax of seven percent in order to lower the prices of EVs
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Thailand Pass, Covid Insurance To End July 1
Thailand Pass registration and compulsory Covid-19 insurance will be lifted for all people arriving in Thailand from July 1
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Looming Debt Crunch Positions Laos As Next Possible Asia Default
Source: Bloomberg Laos, with dwindling cash reserves and surging inflation, is facing some of the same strains that pushed Sri
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Govt Eyes 4.4 Percent GDP Growth Despite Economic Woes
The Lao government will aim for Gross Domestic Product (GDP) growth of at least 4.4 percent over the last six months of this year
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State Enterprise Reform: Some Now Profitable, Others Dissolved
Two banks previously owned by the state and which suffered chronic losses have begun making a profit following major reforms that saw a 70 percent stake in the banks sold to local investors
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Surge In Travel From Laos
More than 2,000 Lao people are arriving in Nong Khai province every day after the Thai-Laos border checkpoint reopened.
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China-Laos Railway Extending Through To Thailand
Expansion of the route makes Thailand a ‘China Plus One’ Option
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Central Bank Tightens Monetary Policy
The move is aimed at reducing the amount of money in circulation and curbing the spiralling inflation rate, which was recorded at 9.9 percent in April.
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What’s Causing The Currency Crisis In Laos?
Mounting foreign liabilities and thin foreign exchange reserves have left the nation of 7 million acutely vulnerable to global financial shocks.
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Laos To Benefit As Pfizer Slashes Drug Prices For Poorest Nations
Pfizer Inc plans to sell its entire portfolio of brand-name drugs at cost in as many as 45 lower-income countries, including Cambodia and Laos, one of the most comprehensive and ambitious drug-access programmes ever announced by a large pharmaceutical manufacturer.
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Laos On Alert For Monkeypox Among Tourists
Lao health authorities are monitoring tourists for cases of monkeypox, following a report from the World Health Organisation (WHO) that cases of the disease have emerged in several countries.
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Traffic Slow At Main Vientiane-Thailand Border Crossing
Few people have crossed the Lao-Thai Friendship Bridge linking Vientiane to Nong Khai province in Thailand since the government reopened all international border crossings on May 9.
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Thailand Pass Remains in Place
Foreigners are still required to download Thailand Pass prior to entering Thailand
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Armed Robbers Attack Woman In Sikhottabong, Vientiane
The use of guns to commit crimes in Vientiane is becoming increasingly common, with most incidents occurring at night.
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Fuel Shortage Soon To Be Resolved, Lao Govt Says
The government says the fuel crisis will be resolved in the near future as it will provide Thai baht and US dollars to fuel importers by authorising additional foreign currency payments to oil companies so they can import more fuel.
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Govt Takes Steps To Withdraw Excess Vehicles From Leaders
A number of vehicles are expected to be withdrawn from Party and state leaders as well as senior officials after action has been taken to retrieve surplus cars in accordance with a new regulation.
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As Borders Reopen, Labor Shortage Looms In Laos’ SEZs
Lao workers are returning to Thailand where they can make more money.
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More Than 2,000 People Enter Laos After Country Reopens
Over 2,000 people, both Lao and foreign nationals, have entered Laos at land borders and the airport in Vientiane since the government reopened the country last week.
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Lao Economy Grinding To A Halt As Fuel Crisis Deepens
A plummeting currency, dwindling foreign reserves, and a spike in global oil prices have led to shortages across the country.
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Businesses And People Hit By Depreciating Local Currency
The value of the Lao kip has dropped significantly since last year against the backdrop of volatility in the global fuel market due to the Russia-Ukraine conflict.
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Entry-Exit Rules Explained As Full Reopening Begins On Monday
The government has dropped six entry requirements that were previously imposed to contain the spread of Covid-19, with Laos fully opening up to travellers on Monday.
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Fuel Shortage Causing Hardship For Lao People
Fuel shortages forced petrol stations in Vientiane and some provinces to close on Monday, with many of desperate motorists going from one station to another in the hope of filling up their tanks.
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Thai Border Checkpoints Ready For Laos Reopening Today
Thai authorities are preparing for border reopening with Laos after the neighbouring country lifts entry restrictions from Monday.
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Laos Announces Full Reopening Starting May 9
The government has announced that all international border crossings will reopen, so that Lao and foreign nationals, well as stateless people, can enter and exit Laos freely.
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Inflation Rate Closes In On Two Digits
The year-on-year inflation rate in Laos surged to 9.9 percent in April, the highest figure recorded since January 2016
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Covid-19 Cases In Laos Surpass 200,000 But Infections Are On A Downward Trend Despite Festive Season
The National Taskforce for Covid-19 Prevention and Control reported in an announcement yesterday that the Covid-19 situation had not been dramatically affected by new year celebrations.
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Govt Agrees In Principle To Raise Minimum Wage
The government has agreed in principle to increase the minimum wage in a bid to ease the hardships suffered by many people amid the rising cost of living.
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Laos Records Trade Surplus Of US$100 mn In March
Laos registered record two-way trade of US$1,100 million, including exports of US$600 million and imports worth approximately US$500 million, in March, resulting in a trade surplus of US$100 million.
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Thailand Drops PCR Test On Arrival, No SHA Hotel, ATK Test ‘Optional’
Thailand’s Centre for Covid-19 Situation Administration has just announced major changes to the county’s Test & Go program, part of the broader Thailand Pass.
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Broker of the Year 2021 – J&C Insurance Brokers Awarded
J&C Insurance Brokers is an award-winning and leading independent insurance specialist in Laos offering customer-tailored solutions.
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Price Of Imported Goods Soars To Record High
The cost of imported household goods surged by 15-50 percent in April compared to the figure recorded in January
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LoudChat: Laos Launch First Communication App
LoudChat, Laos’ first communication app was launched last week by the Ministry of Technology and Communications and Sirichalernxay Sole Co., Ltd.
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New EMU Train Of China-Laos Railway To Serve Lao Festival Travel Rush
Source: Global Times The third Lane Xang EMU train for the China-Laos Railway has arrived in the Lao capital Vientiane
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Laos Issues Tax Obligations for Non-Resident E-commerce and Digital Platform Providers, Joins Other ASEAN Markets
Under the new rules, non-resident e-commerce and digital platform providers must register for a tax identification number (TIN) via an online portal to file and pay their taxes. Further, they must register and pay value-added tax (VAT) if their annual revenue meets a certain threshold.
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Inflation Jumps To Record High
The year-on-year inflation rate in Laos surged 8.5 percent in March, even more than expected, and rose to the highest figure recorded since January 2016.
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Govt To Mull Cut In Excise Tax To Reduce Price Of Fuel
The government will consider cutting or even waiving excise tax on the price of imported oil, to reduce skyrocketing prices at petrol stations.
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Govt Approves Reduced Civil Servant Quota For 2022
The approved the number is down from the quota of 1,600 new civil servants approved in 2021 and the figure of 2,000 allocated in 2020.
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Covid Taskforce Issues Advice On Booster Doses
The taskforce advises that the severity of infection will decrease as people gain stronger immunity to Covid with each additional dose of vaccine.
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World Bank Downgrades Lao Economic Growth Rate To 3.8 Percent
Laos’ economy is projected to expand by 3.8 percent in 2022, down from the 4.5 percent growth rate predicted in October last year, and 3.3 percent in the downside scenario, according to the World Bank’s latest report.
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Lao Govt Mulls Full Reopening For Foreign Tourists
The government is mulling full reopening of the country to foreign tourists after piloting the first phase of partial reopening for targeted groups of visitors.
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Updated Measures For Entering Thailand Announced, Starting April 1st
Travelers are no longer required to provide a negative RT-PCR test within 72 hours of departure. However, the RT-PCR test requirement for the on-arrival date remains unchanged.
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Govt Seeks Procurer Of 183 Electric Vehicles For Leaders
The government is looking for a suitable company to purchase electric vehicles (EVs) for use by Party and state leaders, aiming to switch to EVs as the price of petrol soars.
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Low Minimum Wage Causing A Worker Shortage
The Lao Federation of Trade Unions (LFTU) has called on businesses, including garment factories, to pay workers the increased minimum wage, which rises from 1,100,000 kip to 1,500,000 kip per month this year.
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EDL Suffers Electricity Theft Worth 200 Billion Kip
Electricite du Laos (EDL) lost more than 200 million kip last year due to illegally modified electricity meters and other forms of electricity theft.
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Govt To Slash Fuel Prices
To reduce the pressure of rising food prices, the government will cut the cost of fuel by 650 kip per litre for premium fuel, 540 kip per litre for regular fuel and 610 kip per litre for diesel
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Inflation In Laos Higher Than GDP Growth
Inflation in Laos has surged higher than the projected rate for the Gross Domestic Product (GDP), sparking fears among many people regarding the impact on their living standards.
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Laos Fragrance Brand Scents Success In Hugely Competitive Market
Laos’ first perfume brand HSMM Fragrance launched two new scents – “Lady of Lao” and “Black Intense” – at the 2021 Outstanding Entrepreneurs “Made in Laos” Award ceremony held in Vientiane la
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Labour Ministry To Set Up Worker Database
A Labour Registration and Data Platform will be set up in Vientiane for the compilation of information concerning both Lao and foreign nationals working in Laos.
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Foreign Currency Deficit Among Economic Challenges Confronting Laos
Laos’ overall balance of payments situation is negative despite a trade surplus of US$1.32 billion in 2021 because foreign exchange inflows represent only 26.45 percent of the total export value.
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