The country recorded a year-on-year inflation rate of 38.86% in May, according to information from the Lao Statistics Bureau (LSB). The year-on-year inflation rate in Laos declined to 38.86 percent in May, down from 39.89 percent in April and 40.97 in March this year. In the same period in May 2022, the country recorded a 12.8% inflation rate, […]
Read MoreThe Bank of the Lao PDR (BOL) has informed key stakeholders of the objectives of its credit policy in order to stimulate economic growth as part of the implementation of a resolution of the National Assembly. A meeting to outline the objectives of the policy was held at the Prime Minister’s Office on Tuesday, chaired […]
Read MoreThe Ministry of Labor and Social Welfare expects to provide training and employment for more than 300,000 workers nationwide. Vientiane Times reports that Ms. Anousone Khamsingsavath, Director General of the Department of Employment said that the ministry wants to provide relevant training to 392,000 workers and assist them with securing job placements. The figures were revealed at […]
Read MoreVIENTIANE: With the tourism sector in Laos gradually recovering, the Lao government expects that China’s resumption of outbound group tours will be a strong boost to the Southeast Asian country’s tourism industry. Laos has seen a boom in tourism in the first three months of 2023 as more than 831,000 foreign tourists visited the country, in […]
Read MoreWhile investment in concession operations and special economic zones dropped in Laos last year, the number of newly registered businesses has increased significantly, a new report has unveiled. The value of authorised investment in concession projects dropped from US$7.39 billion in 2020 to only US$2.41 billion in 2021 and US$2.14 billion in 2022, according to […]
Read MoreOver the past two years, Laos has experienced a sharp depreciation of its local currency, the LAK, against foreign currencies. The government has taken a series of measures to thwart this depreciation and get the local currency back on track. One of these measures was the closure of foreign exchange shops, other than those of […]
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