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Lao electricity export up 125 per cent in five years

From 2016-2020, Laos expanded electricity capacity to 6,457MW for export markets, which represents an increase of 145 per cent over the previous five-year period. The Ministry of Energy and Mines earned more than 130 billion kip ($14.6 million), up 35 per cent compared to 2011-2015. Minister of Energy and Mines Khammany Inthirath reported the results […]

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Laos Launches QR Code Payment Standard

The Bank of Lao PDR has launched a Lao QR Code standard for electronic payments in a move to improve payment services and integration between banks. The QR code standard will comply with the finance and currency sector’s strategic plan and minimize the use of cash, driving the onset of a digital economy and boosting […]

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World Bank Classifies Laos as Lower-Middle-Income Economy for 2020

The World Bank has classified Laos as a lower-middle-income economy in its latest classification for the 2020 fiscal year. The bank classifies the world’s economies into four income groups, namely high, upper-middle, lower-middle, and low, based on Gross National Income (GNI) per capita in U.S. dollars. Lower middle-income economies are those with a GNI per capita between USD 1,026 […]

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Lao SEZs aiming for increase in investors, employees

Laos’ Special and Specific Economic Zone (SEZ) Promotion and Management Office and domestic SEZ authorities are gearing up to promote operations in various zones across the nation. This year, the office will attract at least 163 firms with high quality investment capacity and encourage registered companies to implement their operational agreements. Last year, 202 companies […]

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Moody’s Assigns First-time Issuer Rating of B3 to Laos

American credit rating agency Moody’s has assigned a B3 rating with a positive outlook to the government of Laos, citing the country’s high economic growth potential. The rating agency pointed out, however, the country’s weak executive institutions, limited transparency, and the small economy could be potential challenges. It is the first time for Laos to receive such […]

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Laos Clarifies Business Requirements for Vehicle Industry

Laos has promulgated a new prime ministerial decree clarifying the import and export of vehicles, dealerships, and assembly plants as different types of business. According to the new decree, a company that wants to operate all three types of business must obtain three separate operating licences from the commerce ministry. In the past, some companies […]

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