While inflation is projected to fall in 2023, there is no quick fix to the country’s economic troubles. Inflation in Laos continues its alarming upward trend, reaching 40.3 percent year-on-year in January, the government announced this week, the highest figure that the country has reported since 2000. According to a report issued by the Lao Statistics Bureau […]
Read MoreThe country reported an increase in the importation of electric vehicles last year, following multiple hikes in fuel prices. Mr. Thongphat Inthavong, Deputy Minister of Energy and Mines, said at a conference earlier this month that people in Laos have started using electric vehicles more after fuel shortages and increase in fuel prices that were reported in […]
Read MoreThe two-way trade income between the countries increased by 24 percent in 2022, crossing over USD 1.7 billion. The report stated that the two countries’ industry and trade sectors worked together to organize several trade promotion activities during the year, which helped in increasing bilateral trade. In 2022, Laos imported goods worth USD 656 million from Vietnam, […]
Read MoreDeputy Governor of Vientiane Capital, Mr. Phounkhong Bannavong met with the Thai Permanent Secretary for Commerce, Mr. Keerati Rushchano on his visit to Laos earlier this month, to discuss the possibility of reopening four borders checkpoints connecting Laos’ Vientiane Capital and Thailand’s Nong Khai. During their meeting, Mr. Phounkhong expressed that Thailand should quickly reopen four border […]
Read MoreThe central bank of Laos has issued a notice suspending loans to cryptocurrency business from January this year. The notice issued by the Bank of the Lao PDR states that the suspension was put in place to reduce financial risk and maintain the financial stability of commercial banks as well as promote the supply of credit to the […]
Read MoreThe country’s inflation rate increased by 1.03% from December 2022, according to the Lao Statistics Bureau (LSB). The main factors contributing to the surge was the ever-rising price of fuel, gas, and other imported products, combined with the continued depreciation of the LAK currency. Laos also reported an average inflation rate of 23 percent last year, which was a […]
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