VIENTIANE (XINHUA) – The gross domestic product (GDP) of Laos grew 4.3 per cent year-on-year in the first six months of this year, Lao News Agency yesterday quoted a government minister as saying. Economic output in the first half of this year reached LAK95.2 trillion (about USD6 billion), equivalent to 49.6 of a pre-set annual […]
Read MoreLAOS with dwindling cash reserves and surging inflation is facing some of the same strains that pushed Sri Lanka to default and threatens Pakistan’s balance of payments. Fuel shortages across the South-east Asian country of 7.5 million people is the latest sign of distress, the result of elevated oil prices and a plunging currency. Most […]
Read MoreNine bus routes linking Thailand and Laos were reopened on Wednesday as the two countries eased travel restrictions imposed after the arrival of the Covid-19 pandemic. The state-owned Transport Co announced the opening of the routes, some of them operated in cooperation with Lao bus firms. They include services between Bangkok and Vientiane and Bangkok […]
Read MoreThe central bank of the Lao PDR suggests banning members of the general public from owning foreign currencies to address money-related problems including Kip depreciation and rising inflation. KPL reports that the government is about to issue bonds with high interest rates to reduce the volume of cash in circulation next month. This happened after the Bank of Lao […]
Read MoreThe planned resumption of bus services between Khon Kaen and Vientiane has been postponed as the Lao kip worsens. The Lao partner responsible for running the bus route has said he is not ready for services to resume, citing the weakening of the Kip currency from 250 to 450 kip per Baht, as well as […]
Read MoreA leader in Laos’ tourism industry is setting his sights on Vietnamese tourists, who he says like to come to Laos to marvel at the country’s natural beauty. Member of the Board of Directors of the Guide Association, Mr Inthy Deuansavanh, who owns Green Discovery Laos, told Vientiane Times “Indeed, the strong point of Lao […]
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