The “Lasting Laos” campaign and the SUSTOUR Laos Project are working with local businesses to encourage sustainable tourism and help the Lao economy recover from the financial setbacks of the Covid pandemic. Today’s travelers look for more than just comfort and value: many now seek to improve their carbon footprints by making more sustainable travel, […]
Read MoreThe Ministry of Labor and Social Welfare will raise the minimum wage for low-skilled workers amid the rising cost of living in Laos. According to a notice issued by the Ministry of Labor and Welfare, the minimum wage for low-skilled workers will be raised from LAK 1,100,000 to LAK 1,200,000 beginning next month, and to LAK 1,300,000 […]
Read MoreLaos will shortly begin supplying Singapore with electricity under the Laos-Thailand-Malaysia-Singapore Power Integration Project (LTMS-PIP). Vientiane Times reported on Monday that a total of 100 MW will be supplied by Laos to Singapore as a trial run. The power purchase agreement was signed in Vientiane Capital on Friday by Managing Director of the Lao state-owned Electricite du […]
Read MoreThe Bank of the Lao PDR (BOL) has announced that commercial banks and currency exchange providers will be subject to new limits on the sale of foreign currencies. A new Decision on currency exchange services for commercial banks and exchange booths limits the sale of foreign currency to LAK 15 million per individual, per day. Individuals must […]
Read MoreThe Lao government is so desperate for cash that it is offering about U.S. $340 million in bonds with a six-month interest rate of 20 percent, terms that sources told RFA sounded too good to be true. The Lao economy is struggling with rampant inflation, a severe lack of foreign currency, and shortages of food […]
Read MoreThe Lao kip has plunged to a record low in recent days against the US dollar and Thai baht despite the government’s attempts to stabilise currency exchange rates. The value of the national currency has nosedived since the end of March, the Governor of the Bank of the Lao PDR, Mr Sonexay Sitphaxay, told National […]
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