Authorities in Laos have officially authorized two licensed cryptocurrency exchange platforms to operate in the country. The Bank of Laos (BOL) has granted their Agreement in Principle for Cryptocurrencies Exchange Platform to LDX (Lao Digital Assets Exchange Co.), a joint venture between AIF Group and Phongsupthavy Group, and to Bitqik, a subsidiary of Simuong Group. […]
Read MoreThe World Bank’s latest Global Economic Prospects report suggests Laos will see economic growth of 4.5 percent in 2022 and 4.8 percent in 2023. The global economy is entering a pronounced slowdown amid fresh threats from Covid-19 variants and a rise in inflation, debt, and income inequality that could endanger recovery in emerging and developing […]
Read MoreLaos has been the largest recipient of Vietnam’s overseas investment so far, with 209 projects totalling 5.1 billion USD in registered capital, Minister of Planning and Investment Nguyen Chi Dung has said. Vietnam currently ranks third among Laos’ foreign investors. Vietnam’s investment in Laos has been on the upward trend. In 2021, the country channelled […]
Read MoreThe government of Laos now owns a 60 percent share in Vietnam’s Vung Ang Port, up from its previous 20 percent stake. A share transfer agreement for the Lao government’s 60 percent ownership in Vung Ang Port was revealed during the 44th meeting of the Vietnam-Laos Inter-Governmental Committee on Bilateral Cooperation, held in Hanoi yesterday, […]
Read MoreVIENTIANE: The Regional Comprehensive Economic Partnership (RCEP) agreement could bring great economic development opportunities to the region and the agreement is very beneficial for Laos, said Daovone Phachanthavong, the vice executive president of the Lao National Chamber of Commerce and Industry (LNCCI). Being part of the agreement would provide more market opportunities for Laos to expand production for export […]
Read MoreLaos has earned over USD 900 million from the export of agricultural products in 2021, according to a recent government report. Exports of bananas brought in USD 225 million, while rubber earned USD 214 million, with cassava earning USD 196 million, sugarcane at USD 25 million, and watermelon netting USD 26 million, Xinhua reports. An outbreak of lumpy […]
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