The government has approved the sale of 2,000 tonnes of stockpiled rice to bring down the high market price after a shortage of supply meant the price of rice rose by over 20 percent above normal.
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Lao economic growth will remain moderate in 2019 and 2020, as expansion in the industry and services sectors softened in the first half of 2019 due to fewer international visitor arrivals
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UNDP’s vehicle for fast-tracking development solutions harvests local expertise, identifies grassroots innovations and taps into a global network
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Nearly 80 percent of the construction of the China-Laos railway has been completed,
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The government has issued a prime ministerial decree to establish a Small and Medium-Sized Enterprise Promotion Fund, hoping the intervention will boost business access to finance.
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From quiet beaches in Bali to empty rooms in Hanoi’s hotels, pangs from China’s economic malaise and weakening yuan are being felt across Southeast Asia’s vacation belt.
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Two people have died and two others are missing, while more than 54,000 households in six provinces have been affected by storms that have caused widespread flooding.
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J&C’s “Marketing Over Coffee” is back with its September edition “Using Customer Journey for a Better Marketing Strategy?”
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The cabinet has named the management of currency exchange as one of its top priorities in the coming months, as the gap between the official and market exchange rates widens.
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Is Laos on the edge of an economic boom, or a bust?
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Source: Japan Times Electric wire maker Bando Densen Co. has set up a cable plant in Laos as part of
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The International Monetary Fund (IMF) is predicting a favourable outlook for Laos’ economic growth in the upcoming years despite the present difficulties.
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Source: Vientiane Times The World Bank has recommended that Laos let its currency follow the market as other nations cut
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The Bank of the Lao PDR (BoL) should not merely issue warnings to money changers who break the currency regulation rules
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If climate change trends continue and if population continues to increase, water conflicts will probably be an aspect of our future.
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The Lao government will try to sell more domestic bonds in the local currency in an attempt to address the fiscal deficit and strengthen the national capital market.
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Myanmar and Lao PDR look to be the biggest winners of an ASEAN plan to boost connectivity with a series of infrastructure projects.
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Source: Japan Times Lao Airlines said Thursday it is planning to launch regular flights in November connecting the Laotian capital
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The Mekong River’s extremely low level of water caused by upstream hydropower dam projects has triggered the death of masses of fish and heightened the risk of mass extinction of aquatic life
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The injection of bank credit into the economy continues to slow despite government measures to improve the investment climate for the private sector.
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Laos has steadily faced a higher Inflation rate over the past five months after being pressed by several economic factors.
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The United Nations Educational, Scientific and Cultural Organisation (UNESCO) on Saturday added the Plain of Jars in Xieng Khuang province to its list of World Heritage Sites.
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Laos launched its tourist eVisa service, earlier this week, a move that the travel trade says will make it more convenient for visitors.
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Villagers living near the Mekong River in Thailand and Laos are finding it difficult to cope with sudden releases of water from dams upstream in China.
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There is growing concern about the strengthening of the Thai baht and US dollar against the Lao kip.
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The Ministry of Industry and Commerce plans to establish model restaurants in the Lao capital of Vientiane that will serve single dishes at prices set by the authorities.
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Laos has reported to the World Organization for Animal Health (OIE) a series of seven cases of African swine fever (ASF) in the southern portion of the Southeast Asian country.
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It takes only a cup of coffee to define your marketing solutions
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Lao Development Bank (LDB) and Singapore-headquartered blockchain-based fintech Everex have signed Memorandum of Understanding (MOU) on the initiative.
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The business environment is expected to improve dramatically in the coming years as the government intensifies action to better facilitate business
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The new China-Laos railway is spanning the Mekong River and drilling through mountains. So far, many local Laotians are seeing more trouble than benefits from the project.
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With the exception of Singapore, none of the ASEAN countries are doing so well in terms of providing a great place for their children to live in.
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Some 1,285 people have been found to be involved in corrupt practices, defrauding the government of 999 billion kip
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Laos’ combined exports and imports for this year are struggling to achieve the target
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PM Thongloun pushes back against warnings over infrastructure burden
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The energy and mining sector is trying to cut electricity prices so that power is affordable for local residents and businesses.
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The Annual Vientiane Career & Education Fair is organized by volunteer staff members and students from Lao-American College and AIESEC.
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The private sector in Laos is optimistic that trade and investment will be made easier by the public sector following the application of international evaluation standards.
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The number of visitors to Laos from high-end and target countries declined significantly in the first three months of this year compared to the same period in 2018, a recent report reveals.
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Poor construction methods, with soil used in place of concrete, caused a fatal hydropower dam collapse last year in Laos, a panel of water experts has concluded, prompting a rejection of its findings by the South Korean firm that built the project.
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The agreement was signed by the APA CEO, Mr Dominick Williams, and founder and CEO of J&C, Mr Stephan Aeschbach, on Friday in Vientiane.
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Source: Vientiane Times The government is planning to expand Vientiane’s Wattay International Airport to meet the growing need for passenger
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The Lao government has disciplined more than 200 officials involved in taking bribes or embezzlement in recent months as part of a bid to crackdown on rampant corruption in the Southeast Asian nation, but few have been held criminally accountable for their actions.
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The Department of Radio Frequency under the Ministry of Post and Telecommunications continued discussions on a roll-out of the 5G network in Laos with internet service providers yesterday.
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The Ministry of Information, Culture and Tourism issued a notice last week banning the advertising of alcoholic beverages and activities that promote the consumption of alcoholic drinks.
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The Ministry of Industry and Commerce has announced an increase in fuel prices across the country in line with changes in the global oil prices.
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The government cabinet has agreed to revise the electricity unit price structure to lower the cost of electricity, as an incentive to boost investment and productivity.
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Seven major banks in Laos signed a memorandum of understanding on April 22 to establish the Lao National Payment Network (LAPNet) company for a faster, reliable and more convenient payment system.
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In Laos, newly-empowered consumers are basking in the benefits of the polymer industry without knowing the consequences of their consumption on marine ecosystems.
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A group in Laos says designer MaxMara ripped off designs from a local ethnic group with zero compensation or acknowledgment.
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Economic growth in Laos is expected to remain stable this year and next, supported by the expanding agriculture, energy, industry and services sectors, says a new Asian Development Bank (ADB) report.
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The economic growth rate of Laos is high compared to neighbouring countries and some regional peers, however, this has not seen poverty reduction in the country.
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UN Special Rapporteur on poverty and human rights plans to refer the reclusive authoritarian nation to the UN Human Rights Council for a host of abuses and failings
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As many as 1,225 state investment projects have been implemented unlawfully over the past years, the Government Inspection Authority (GIA) reported this week.
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The 414km railway from Yunnan’s provincial capital of Kunming to the Laotian capital of Vientiane would cut travelling time to three hours, from three days
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Industries that produce pollution may have to pay more taxes now that the Lao government has embraced the National Green Growth Strategy.
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Source: Vientiane Times The Lao banking sector is working to improve regulations and update preparations for implementing the Basel II
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Source: RFA Seven high-ranking current or formal officials in Laos’ Vientiane province have been warned and publicly identified for their
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Source: Vientiane Times Germany has pledged to increase assistance to Laos for the development of agriculture and the processing industry,
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Laos is one of the Southeast Asian nations that may benefit from the ongoing trade dispute between the US and China, but the government should also take steps to improve the investment environment.
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Sales of illegal animal products shifted away from shopfronts in Laos and are surging on the Chinese social media platform WeChat
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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.
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Workers have the legal right to require their employers to ensure occupational health and safety, a new governmental decree stipulates.
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The government has given the green light for state agencies to revoke land concession licences held by investors who fail to develop state land in accordance with agreements.
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AOS is developing a strategic plan to become the network centre for a regional electricity transmission system by 2025.
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Lao Prime Minister Thongloun Sisoulith has asked the country’s Ministry of Home Affairs (MoHA) to take prompt action to streamline the apparatus of state organisations so as to improve the performance of officials and public employees.
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LAO authorities have reduced import tariffs on 8,536 items to zero as part of national efforts in establishing the Asean Free Trade Area, according to a government report.
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Pakxong district in Champassak is one of the few places in Laos that has a temperate climate. The relatively high altitude means the area is suitable for growing a wide range of crops that thrive in cooler weather.
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Laos is now actively working to improve the business environment and facilitate trade as part of supporting the government’s policy to improve the ease of doing business.
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The Bank of the Lao PDR must introduce more concrete measures to keep the value of the kip stable, otherwise the country will face a big challenge in keeping the cost of living at an acceptable level
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The government insists that jobs relating to hair styling for men and women will remain the preserve of Lao nationals as designated by law, despite the many establishments currently being operated by foreign nationals.
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Recent arms deals with Russia offer Laos few gains. Instead, the republic risks becoming a battleground for Russia and China to compete for influence.
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Cambodia, Laos, Myanmar and Bangladesh are the lowest ranked Asian countries in the ease of doing business report
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Laorealestate.la, in partnership with the Lao National Chamber of Commerce and Industry (LNCCI) and Laos’ leading online marketplace, www.yula.la, is excited to announce it will be hosting the country’s first real estate investment expo at Don Chan Palace Hotel on Friday & Saturday, the 1st and 2nd of March, 2019.
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Lao Airlines, the national flag carrier, has launched a weekly flight to Shanghai to serve the expected influx of Chinese tourists and other passengers during Visit Laos-China Year 2019.
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The key important points to note from the Amended Law on VAT are summarized in this alert.
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Employers in Laos will be subject to legal action if authorities discover they are failing to pay their workers the minimum wage.
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Shortage of skilled labour is chronic, resulting in the reduction of garment exports
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Laos will have the opportunity to host the 16th ASEAN School Games for the very first time in its capital Vientiane in 2024, Lao sports authorities said.
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Prime Minister Thongloun Sisoulith has approved a list of businesses that are subject to government control, while also stating that types of business not on the list would find it easier to operate.
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The Central Committee of the Lao People’s Revolutionary Party recently adopted core and urgent measures to drive the macro economy which is currently encountering some difficulties.
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The price of rice dropped at the end of last year in Laos with farmers managing to supply enough rice even after their crops were hit by floods.
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Garment factories in Laos are experiencing labor shortages as workers are looking to Thailand for greener pastures, sources say.
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The Department of Tax has launched a system that ensures land tax payment is bank-based, safe, and fast.
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The Lao government expects domestic and foreign private investment to climb to 23,086 billion kip (over 2.72 million U.S. dollars) in 2019
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Fly from Perth, via Singapore, to Luang Prabang and Vientiane from $189 each way.
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Laos has announced plans to draw more Chinese tourists to the landlocked country that stands at the heart of the Mekong Region.
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Improving the investment climate, and building a state governed by the rule of law will be the main focus of government activities in the first month of 2019.
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The government of Laos says it has been ramping up its efforts to battle corruption over the past two years, but NGOs say that the situation in Laos is getting worse.
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Laos has not fully benefited from the recent regional economic integration as its share of trade with ASEAN nations has declined, according to the National Institute for Economic Research (NIER), a Lao think tank.
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Construction of buildings to house the new Mahosot Hospital in Vientiane started on Friday to replace the existing century-old facility as part of efforts to overhaul the country’s health services.
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Laos will close its “Visit Laos Year 2018 promotion well short of the 5 million tourist arrivals target
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The government has told the National Assembly (NA) that Laos needs to have an electronic signature law in place to boost E-commerce and facilitate E-governance.
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Private investment prospects in Laos remain robust despite the nation’s drop in ranking on the World Bank’s Ease of Doing Business Index, according to a government report.
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Chemicals released into a river by a Chinese-owned banana farm near the Lao capital Vientiane killed over 300 kg of fish in November, prompting warnings by authorities to local villagers not to bathe or fish in the polluted stream, sources in the country say.
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THE TAP-WATER business in Laos’ top tourist destination Luang Prabang has enormous potential for growth due to the rapid expansion of tourism, a high-speed rail project in the works and high demand for water utilities across the country, according to Exim Bank and Thai investors in Laos.
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Two Chinese-owned cement factories in the Vang Vieng district of Laos’ Vientiane Province are covering approximately 900 local families in at least four villages with dust and smog, threatening their health, local sources say.
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A court in the Lao capital Vientiane today handed 15-year prison terms to the owners of a company accused last year of defrauding investors of thousands of U.S. dollars in personal savings, a Lao source says.
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Small and Medium Sized Enterprises (SMEs) in Laos must prepare for a new challenge when the government enforces the Law on Value Added Tax (VAT) next year.
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The government is planning to purchase foreign currencies from various sectors as part of measures to boost foreign reserves, according to a government leader.
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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.
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The Lao government will cut the annual quota of new civil servants from 3,000 people this year to 1,500 people next year to ease its budgetary burden, Prime Minister Thongloun Sisoulith told the parliament on Tuesday.
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The revenue earned from taxes has increased massively since the government introduced an online payment system.
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The free trade zone will also be a way for Thailand and the Mekong countries to profit from China’s flagship Belt and Road initiative.
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Authorities should address issues that are a source of annoyance for tour operators and tourists, to ensure better conditions for visitors during Visit Laos-China Year 2019 and beyond, tour operators say.
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The border gate between Myanmar and Laos has been upgraded and given international status, according to the Ministry of Labour, Immigration and Population.
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The Vientiane State Bus Enterprise (VSBE) has doubled bus fares for students commuting on Thangon, Dongdok and Phontong-Dongdok routes.
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That is the claim of a Stanford University engineering expert who has scientifically analyzed the site of the disaster that likely killed hundreds of Lao villagers
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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.
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UNDP’s annual statistical update points out challenges and successes
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Prime Minister Thongloun Sisoulith has urged the Bank of the Lao PDR (BOL), the nation’s central bank, to pay serious attention to implementing Order No. 02/PM on improving the climate for doing business.
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Asia and Europe should strengthen cooperation to narrow the development gap that remains wide, Laos has told the 12th Asia-Europe Meeting (Asem12) in Brussels, Belgium.
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South Korean lawmaker and liberal newspaper allege that SK E&C altered original plans to maximize profits
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The Lao inflation rate continued to increase above 3 percent in September despite the government introducing a number of measures to control the price of goods in local markets.
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Chinese economic development strategies need fine-tuning
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Lao Airlines has shifted its primary focus from searching for a business partner to improving service in a bid to make the national flag carrier more competitive
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Scientists are racing to stamp out the disease in southeast Asia before unstoppable strains spread.
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Authorities need to reduce the regulatory burden or “red tape” that businesses face in conducting their activities due to rules and regulations so that their compliance costs can be cut to increase their efficiency.
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The Technical and Vocational Education Department of the Ministry of Education and Sports and Luang Prabang Film Festival have launched a new short film competition to celebrate the Lao tourism and hospitality sector.
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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.
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Lao firms and households are expected to benefit from a new US$13-million project, which will promote reforms to the business environment, for instance reducing the number of days needed to start a business.
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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.
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Natural disasters coupled with global economic and political uncertainty have had a direct impact on the implementation of the 8th Five-Year National Socio Economic Development Plan (NSEDP 2016-20), according to a senior government official.
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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.
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Vientiane Airport has doubled the size of its international terminal, supporting a Laotian initiative to boost tourism. Laos expects Vientiane’s international passenger traffic to double over the next five years, driven by a rapid increase in visitor numbers.
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Source: The Asean Post Last July, Lao witnessed a catastrophe when the Xe-Pian Xe Namnoy dam located on the Xe
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Laos will conduct a population census in 2020 to provide updated information for indicators, baselines and targets to be incorporated in the 2021-2025 National Socio-economic Development Plan.
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Internet users will have a wider choice of service options when the Lao Asia Pacific Satellite Co., Ltd. rolls out 4G wireless throughout the country early next year.
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Laos continues to face a high risk of money laundering despite the country graduating from the “grey list” of the Financial Action Task Force last year, according to the National Money Laundering and Terrorist Financing Risk Assessment (NRA).
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Prime Minister Thongloun Sisoulith has ordered ministers, the Vientiane mayor and provincial governors to implement eight measures to stimulate economic growth.
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The Ministry of Finance in Laos has announced it has adopted a new Asean tariff code, giving a signal that Laos is ready to become part of the single regional market of 600 million consumers.
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Laos and Myanmar have approved the 12th map of the border between the two countries, which they will use as an annex to the agreement on a permanent borderline dated June 11, 1994.
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Flooding caused by recent storms in Laos has killed at least 46 people while 97 others are missing and four people were injured, according to the latest report from the National Disaster Prevention and Control Committee.
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Yesterday, provinces in at-risk areas were on the alert and monitoring the level of the Mekong, especially in Vientiane, Luang Prabang, Pakxan district in Borikhamxay province, Thakhaek district in Khammuan province, and Pakxe in Champassak province.
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The Thai and Lao pollution control agencies have agreed to work together to reduce air pollution caused by vehicles in the two countries, especially at border checkpoints.
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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.
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Shaken by a deadly dam collapse, Laos needs to reconsider its long-term strategy
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The international terminal of the airport serving the Laotian capital of Vientiane, Wattay International Airport, can now accommodate as many as 2.3 million foreign travelers a year, roughly nine times the original terminal’s capacity.
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Members of the Lao business sector have recently called for the government to abolish a 10 percent excise tax on internet usage, claiming that Laos remains the only country in Asean to impose the charge.
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The average fuel price in Laos is more than double than the global price
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The Bank of the Lao PDR looks set to face a big challenge in keeping the value of the kip against the US dollar stable, as the local market is ignoring the official reference currency exchange rate.
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A number of car dealers in Vientiane have renewed marketing strategies to boost sales of their vehicles as they have been hit by lack of purchasing power in the capital.
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The number of newly registered and expanded businesses in the capital increased almost threefold during the first six months of the year.
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Laos having regrets as China’s grand Pan-Asia railway dream sours
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Vicha Poolvaraluck, chief executive of Major Cineplex, said he signed the deal with Thatnakhone Thammavong, president of TK Group and Lao World Plc, an owner of ITECC Mall, to open the new state-of-the-art cinema.
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The 16-hectare resort overlooks a lush greenery with a backdrop of beautiful mountain views and paddy fields along meandering streams and ponds in the rustic countryside.
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Public debt is estimated at around 68 percent of GDP and almost half of the money is being borrowed from one source – China.
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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.
Domestic and foreign investors will be granted a number of tax breaks under a new amended decree related to specific and special economic zones (SEZs) issued recently by the government.
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The concrete casting for the last pier understructure of LuangPrabangrailway bridge has been successfully completed, laying down all the foundation construction work of the two cross-Mekong River super major bridges along the China-Laos railway.
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The government is not so confident in achieving its target of attracting five million tourists to Laos in 2018 as an informal mid-year summary had shown that less than two million had visited the country so far this year, Prime Minister Thongloun Sisoulith told the recent Lao Business Forum.
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Lao state and private television broadcasters are being requested to utilise the country’s own Laos-Pacific Pacific Satellite Co., Ltd. (LAOSAT).
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More than 2,715.8 billion kip will be sourced and allocated for the promotion of small and medium enterprises (SME) to facilitate better access to finance to grow their businesses.
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While giving a guidance talk at the 11th Lao Business Forum on Jul 5, Prime Minister Thongloun Sisoulith emphasized the importance of strengthening the business sector through the improvement of business-related laws and regulations adding that doing so could help achieve the national socio-economic development goals.
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Following Savannakhet’s declaration of Kaysone Phomvihane district as a city in May, the province is upgrading popular tourism sites in three districts in a bid to attract more visitors.
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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.
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The Lao Coffee Festival reinforced the growing significance of the coffee industry in Laos and the tiny, landlocked Southeast Asian state’s aspirations to become a major player in this area despite the challenges that remain.
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The government is contemplating a cut in budget expenditure to maintain financial liquidity following a revenue shortfall during the past four months of this year.
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Laos will join Cambodia, Vietnam and Myanmar in offering an online e-visa option for tourism purposes, the last country in Southeast Asia to switch from passport-page sized stickers to electronically prearranged visas for self-printout
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Laos has begun to witness improvements in non-resource exports amid declining mining output and a government policy to boost growth in the manufacturing sector
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The removal of barriers to bank lending and borrower withdrawals foreign currencies are set to benefit enterprise in Laos after the Bank of the Lao PDR removed restrictions in this regard, according to an announcement from the central bank.
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The strategic process run for MMG’s Sepon copper-mine in Laos has culminated in the sale of the operation for US$275 million to a Chinese buyer.
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All enterprises that have been registered and have obtained a tax ID will have to comply with the Value Added Tax Law.
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The Mekong River Commission (MRC) announced yesterday that Laos has formally notified the Commission of its intention to construct the Pak Lay dam on the mainstream of the Mekong River.
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As the only landlocked country in Southeast Asia and one of the least developed ones in the region, Laos seems to have different priorities on growth that are driving it pile on even more debt.
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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.
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A new IP law will come into force in the Southeast Asian nation of Laos this weekend, introducing trademark opposition procedures to the country for the first time. The new law also stipulates the creation of a new digital platform for brand rights and expands the range of images eligible for trademark protection in the jurisdiction, among other things.
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The EF English Proficiency Index is out for the past 12 months. In Asia the proficiency scores go from Singapore at the top to Laos at the bottom.
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Work has begun on the construction of the new Kasemrad International Hospital Vientiane (KIH Vientiane), the largest private hospital in Laos, with an expected completion date in two years’ time.
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The government has issued a new decree to strengthen collaboration between the Prime Minister’s Office and ministries, provinces, the capital and ministry-equivalent organisations.
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Countries at most risk include those that consume the most rice and have the lowest gross domestic product (GDP), such as Myanmar, Laos and Cambodia
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The Lao tourism industry is not only playing a significant role in boosting economic growth, but is also creating a huge number of job opportunities for local people, experts have noted.
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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.
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.
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Local tour companies are continuing efforts to promote Laos as an adventure tourism destination with a recent exhibition held at the Vientiane Center shopping mall.
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The rising price of fuel has become the new driving force behind inflation, sending a signal that the government must address this economic risk.
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Lao economists have urged the government to accelerate the privatisation of state enterprises that have been underperforming, as part of measures to improve its financial position.
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The injection of bank credit into the Lao economy has been on the decline after reaching a peak over the past several years, according to economists.
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Laos is an ASEAN member country in the heart of the Indochinese region, which has economic potentials and is opening up itself for cooperation with other countries.
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Lao government officials have launched a new push against corruption in the one-party communist state, with state inspection authorities stepping up investigations across the country and reporting in February that they had discovered up to $120,000 missing from state funds, sources in Laos said.
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More than US$5 billion is needed to build a railway linking Vientiane to a seaport in Vietnam’s Ha Tinh province, Vietnamese media reported on Friday, citing study results.
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The collection of revenue throughout the nation over the past four months has reached 5,297 billion kip, equal to only 20.81 percent of the figure targeted for the whole of 2018.
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The predicted economic slowdown in China, one of the top three foreign investors in Laos and an important trading partner, could affect the Lao economy, the government’s economic analysts have warned.
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Vientiane province’s Vangvieng district will officially be declared a tourism town in 2020 in terms of natural and cultural attractions, as part of the government’s efforts to promote the tourism industry.
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Lao economists have called on the government to pay more attention to preparations for the country’s expected graduation from the least developed country (LDC) status, to ensure sustainable development.
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Electronic visa (E-visa) services are set to be offered at the end of this year or early next year in a move to attract more foreign tourists to take vacations in Laos.
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The government has approved a minimum wage increase from the present 900,000 kip to 1.1 million kip a month, according to the Prime Minister’s Office.
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The construction cost of many projects with State investment have been found to be too expensive and exceeding the realistic value, inspectors have confirmed.
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For the first time since it was identified by the United Nations as one of the world’s Least Developing Countries (LDC), Laos has fulfilled the eligibility criteria to be removed from the list, and could see its status upgraded as early as 2024
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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).
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The Lao government says the country will earn increased revenues from the energy and mines sector this year on the back of continued growth.
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The government has approved a change in the status of Luang Prabang, Kaysone Phomvihane and Pakxe from towns to new cities, according to the Ministry of Home Affairs.
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Beijing-backed US$6.7 billion high-speed railway project threatens to bust the small nation’s already fragile finances
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A Lao company has officially opened an inland container depot (ICD) at the Boten Specific Economic Zone (SEZ) in Laos’ northern province of Luang Namtha.
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Next month marks Lao Prime Minister Thongloun Sisoulith’s second year in power, a role few Communist Party apparatchiks have grasped with so much aplomb.
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In the 2018 Doing Business report, Lao PDR was ranked 141 out of 190, down from 139 the previous year.
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Landlocked by Myanmar, Cambodia, China, Thailand, and Vietnam, Laos is among the poorest economies of the world. Yet, in terms of gross domestic product (GDP), the economy continues to soar. Over the last decade, Laos has sustained an average growth rate of 7.8 percent, relatively higher than its neighboring countries.
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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.
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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.
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A total of 212 people died in road accidents around the country from January to February this year, with many of the crashes attributed to speeding and drunk driving.
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