To support the Government of Laos in understanding how digital interventions can continue to improve operational efficiency and user satisfaction, the United Nations Development Programme (UNDP) has joined hands with the Ministry of Technology and Communications (MTC) to develop the Lao PDR Digital Maturity Assessment (DMA). An official launching ceremony for the DMA report was held […]
Read MoreFitch announced the downgrade on its website yesterday, saying that Laos’ Long-Term Foreign-Currency Issuer Default Rating (IDR) had moved downward from ‘CCC’ to ‘CCC-.’ According to Fitch, the downgrade of Laos’ Long-Term Foreign-Currency IDR reflects a further rise in external liquidity risks, driven most recently by the spike in commodity prices and tightening global financing conditions. Laos’ […]
Read MoreForeign currency values, particularly the US dollar and the Thai baht, peaked in June before gradually declining beginning in early July. In June, the Bank of Laos PDR announced limitations on daily foreign exchange transactions with commercial banks. Individuals must now indicate their reason for exchanging foreign currency, while commercial banks must also give priority to organizations […]
Read MoreFrom January to May this year, the total value of trade between Laos and Indonesia reached US$22.7 million, with this figure expected to swell significantly by the end of this year. The two countries have seen a 282 percent increase in trade growth from US$16.1 million in 2017 to US$45.5 million in 2021. Indonesian Ambassador […]
Read MoreThe Sithandone Special Economic Zone (SEZ) in southern Laos is starting construction of two major development projects after the completion of a land survey carried out by Zone officials and the government. One of the developments is a grandiose hotel close to the Mekong River and the Khonphapheng Falls, built in the shape of two […]
Read MoreThe increased minimum wage, now LAK 1,200,000, is only applicable to the private sector, and will not include overtime compensation, according to the Lao Federation of Trade Unions. State media reports that Deputy Director General of the Labour Protection Department of the Lao Federation of Trade Unions, Mr. Athilate Oudomdeth, said during a meeting that the conditions […]
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