As the value of Kip depreciates against foreign currencies, especially the US dollar, residents are finding it increasingly difficult to repay the installments on their cars or motorbikes. This is not a pertinent issue for people who earn in dollars as the exchange rate doesn’t impact the amount they owe. However, people who earn in […]
Read MoreCurated by the well-known travel magazine, Wanderlust, famous tourist spots in Laos have made it on the list of best places to visit in the world in January 2023. Laos has been selected as among the 20 best places to visit in January 2023 by Wanderlust, UK’s leading independent travel magazine. It is the top ASEAN country on […]
Read MoreThe Central Committee of the Lao People’s Revolutionary Party has pledged to get a grip on the rising inflation and other economic difficulties the country is currently suffering from. Laos recorded 34 percent year-on-year inflation in September – the highest figure in more than two decades. During the fifth Plenary Session which ended on 20 October, The […]
Read MoreMoney exchange units that represent commercial banks are now prohibited from selling foreign currency, according to the Bank of the Lao PDR. Became effective on October 11, the ban supports the government’s attempts to give commercial banks a greater role in the purchase and sale of foreign currencies, while limiting the role of money exchange […]
Read MoreAccording to The International Monetary Fund (IMF), Laos is estimated to grow only 2.2 percent this year, the growth rate will increase to 3.1 percent by next year and will rise to 4.3 percent in 2027. The growth projection in October remains the same as that of July after it was downgraded from April’s forecast […]
Read MoreLaos-China Railway plans to improve the transportation of goods by railway across the border and create opportunities for companies to export their products. Mr. Asan, a Chinese translator for the project management department of China Railway Construction Group (CRCG) revealed that the railway company is exploring a new model of international railway transportation expanding the Laos-China railway […]
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Thailand
