Thailand Is Laos’ Largest Trading Partner, China And Vietnam Are Top Export Markets
Thailand is Laos’ largest trading partner but the country’s main export markets continue to be China and Vietnam.
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Lao Economy
Number Of New Covid Cases Alarmingly High: Taskforce
The number of new locally-transmitted Covid cases recorded over the past five days remains high, especially in the provinces of Vientiane, Khammuan, Savannakhet and Luang Prabang.
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Govt Pledges To Reduce Nation’s Debt By 2023
The government has vowed to reduce the total public and publicly guaranteed debt stock to 64.5 percent of Gross Domestic Product (GDP) by the end of 2023.
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Price Of Construction Materials Surges, Labour Rates Dip
People hoping to build a house this coming dry season will have to think twice now that the price of many construction materials on sale in Vientiane has risen sharply.
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PM Confirms Laos-China Railway To Open On December 2
Prime Minister Phankham Viphavanh said on Wednesday that the Laos-China Railway will open on December 2 – the day when the Lao PDR will celebrate its 46th anniversary.
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Bureau Outlines Three Main Causes Of Inflation
The Lao Statistics Bureau has highlighted three main underlying causes of inflation, amid rising concerns over the ongoing health crisis and food security.
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Laos Extends Covid-19 Measures Till October 15
The Lao government has extended measures to counter the Covid-19 outbreak for another 15 days until October 15 as infections have continued to rise.
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PM Orders Re-Negotiation For Fair Benefits In Mining, Energy Projects
Prime Minister Phankham Viphavanh has told the Ministry of Energy and Mines to re-negotiate with the operators of hydropower and mining projects to ensure fair benefits from such projects
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Lao Economy Suffering Due To Covid-19 Outbreak
This year’s Covid-19 outbreak has deepened the impacts on Laos’ economy, resulting in business shutdowns, growing health concerns, and falling sales.
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Covid-19 Delays Economic Recovery In Laos: ADB
The unanticipated Covid-19 pandemic has delayed economic recovery in Laos, with consumption hit hard by the virus control measures implemented since April
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Vientiane City Under Lockdown As Covid Cases Surge
Authorities have ordered a full lockdown of Vientiane following new clusters of locally-transmitted cases of Covid in several factories.
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Chinese Investments In Laos Soar, But Little Wealth Is Spread
Not counted is the cost in damage to the country’s environment and Lao citizens’ loss of homes and livelihoods, experts say.
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Laos Records Lowest Trade Deficit, US$24 Million In August
Laos registered a record low trade deficit of US$24 million in August compared to the previous records of the year, with the two-way trade value amounting to US$880 million
Read more Economic Fallout From Covid Deepens: World Bank Survey
he economic fallout in Laos over the second quarter of this year as employment fell off sharply and households and businesses suffered declining income and revenue
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Laos Records Highest Trade Deficit Of US$99 Million In July
Laos registered a record trade deficit of US$99 million in July, with exports valued at US$374 million and imports at a US$473 million, comprising a total two-way trade value of US$847 million.
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Govt Reveals Debt Payment Plan
Revenue earned from potential mining operations, revamped state enterprises and from other as yet untapped sources will be used to pay debts amounting to almost US$14 billion
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College Graduates in Laos Face Bleak Job Prospects Amid Pandemic Shutdowns
Recent college graduates in Laos are having trouble finding work, as businesses continue to shut down in the face of economic difficulties tied to the COVID-19 pandemic.
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Govt Proposes Income Tax Revisions To National Assembly
The Ministry of Finance has revised several articles of the Law on Income Tax, to enable businesses to operate
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US Has Opportunity To Establish Stronger Economic Ties With Laos
The United States has an opportunity to reset its relationship with Laos and establish a future-oriented partnership based on economic development to offer a complement to Chinese influence.
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Laos Issues E-commerce Regulations
Laos is making strides toward providing clear legal guidance for e-commerce operations by issuing legal measures to facilitate the regulation of online business activities.
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Laos Records US$932 Million Trade Value In June
Laos saw a record US$932 million in the value of imports and exports for June, but recorded a trade deficit of US$62 million
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More Workers Needed For Lao Garment Industry
The garment industry in Laos requires more workers, both skilled and unskilled, with almost all garment factories in Vientiane now reopening as lockdown restrictions are lifted.
Read more Covid Restrictions Extended, Some Lifted To Ease Economic Impacts
The surge in imported cases of Covid-19 has prompted the government to extend the virus control measures outlined in Prime Ministerial Order No. 15 for another 15 days until August 3.
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Govt To Take Stronger Action To Contain Spread of Covid-19
The government has vowed to take stronger action to contain the spread of Covid-19 and to tackle economic difficulties created by the pandemic.
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Laos, Russia Agree To Cement Ties, Broaden Cooperation
Lao and Russian foreign ministers have agreed that both sides will work together to cement ties and broaden cooperation between their two countries.
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Laos Grapples With Rising Inflation
The consumer price index has continued to surge despite measures imposed by the government to manage the prices of goods in local markets.
Read more Laos’ trade deficit exceeds US$54 million in May
China is the largest market for Lao exports, while Thailand remains one of Laos’ main importing countries with imports reaching a record value of US$227 million in May.
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Laos Sets Out Rules for Securing Investment Promotion Incentives
Laos has issued important new guidelines on obtaining investment promotion incentives in the country.
Read more Lockdown Extended For 15 Days, Some Restrictions Lifted
The government has extended the lockdown for another 15 days until June 19, with restrictions to continue in areas of infection known as red zones, while some virus control measures have been eased.
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Authorities Mull Policies To Ease Impacts Of Covid-19
A number of policies are being considered to mitigate the effects of the ongoing Covid-19 outbreak on the economy and people’s livelihoods.
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Railways To Help Laos’ Businesses Blossom
Once opened, the Laos-China Railway promises to be a significant engine of business development in Laos.
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Laos Must Speed Up Reform To Maximise Benefits Of Railway: World Bank
In order to maximise benefits from the rail project, Laos must quickly create a business friendly environment.
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Lao Govt To Address Seven Urgent Issues To Spur Development
Newly-elected Prime Minister Phankham Viphavanh highlighted the seven concerns
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Unemployment In Laos Soared By 20 Percent In 2020
The unemployment rate in Laos skyrocketed to 20 percent in 2020, a 10.6 percent increase compared to the figures for 2017, and the global Covid-19 outbreak was the main factor for the sharp increase in the number of jobless in the country.
Read more Laos Records US$729 Million In Imports, Exports For October
Laos reported a record US$729 million in imports and exports in October this year, with the value of exports put at US$347 million and the value of import calculated at US$382 million.
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Lao Govt Vows To Smooth The Path For Investors
The Lao government has pledged to remove barriers and further improve the business climate in a bid to attract more investment from Laos and foreign countries.
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Lao Government Outlines Plans To Tackle Debt Issue
The Lao government has announced that it will manage and address public debt in various ways as it seeks to ease the country’s financial tensions.
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Projected Revenue Shortfall Adds To Nation’s Debt Burden
Laos is undergoing an unprecedented level of macroeconomic stress and the pandemic has worsened an already fragile economic landscape.
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Laos To Lose US$483mil In Export Revenue Over COVID-19
The country is still facing a huge trade deficit
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Laos Has Avoided A Major Health Crisis, Yet To Be Immune To Global Economic Downturn
The Lao PDR has so far avoided a major health crisis but has not been immune from the global economic downturn as the COVID-19-induced economic recession has affected the country through multiple channels including tourism, trade, investment, commodity prices, exchange rates, and lower remittances.
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Lao PM Announces Tax Break
Lao Prime Minister Thongloun Sisoulith just announced the following tax measures to reduce the impact from COVID19 on SME’s
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Thai Economic Outlook Among Asia’s Weakest
Thailand is preparing to restrict some aspects of daily life after the country’s biggest spike in coronavirus cases, further damaging one of Asia’s weakest economic outlooks.
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Laos’ Eonomic Growth Outlook Stable For 2019, 2020
Economic growth in Laos is expected to remain stable this year and next, supported by the expanding agriculture, energy, industry and services sectors, says a new Asian Development Bank (ADB) report.
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