Phongsaly provincial authorities have given the green light to a Chinese business group to carry out survey and a feasibility study on the development of a new Triangle Special Economic Zone (SEZ), local media reported. If approved, the zone would be located in the province’s Nhot-ou district at the shared border between Laos, China and […]
Read MoreVientiane (VNA) – The year-on-year inflation rate of Laos rose to 4.7 percent in July, highest level recorded since August last year, reported the Lao Statistics Bureau. Fluctuating currency exchange rates are considered to be one of the main drivers of inflation in Laos. Strong demand for foreign currencies, notably the Thai baht and US dollar, means that businesses often rely […]
Read MoreThe Lao economy is on course for moderately improved growth in 2021, despite an outbreak of Covid-19 denting the promising economic recovery made earlier in the year, according to the World Bank. The Bank’s latest Economic Monitor for Laos – A Path to Recovery – predicts that gross domestic product (GDP) growth will rise to […]
Read MoreThe Bank of Laos (BOL) has issued a notice warning the public about the usage of unregulated cryptocurrencies, including Bitcoin, Ethereum, and Litecoin, which are not connected to actual currency reserves. The notice states that while authorities have already issued a notice to warn the public against the use of Cryptocurrencies in 2018, many continue to trade in […]
Read MoreRevenue earned from potential mining operations, revamped state enterprises and from other as yet untapped sources will be used to pay debts amounting to almost $14 billion, the Lao government has told the National Assembly (NA). Foreign debt has accumulated to about $13 billion and domestic debt now stands at $900 million. Money has been […]
Read MoreThe Lao government has spent over LAK 15.82 billion on food, transportation, and other necessities for Lao migrant workers returning from Thailand. Minister of Labour and Social Welfare, Ms. Baykham Khattiya, said during the first extraordinary session of the ninth legislature last week that the Lao government has spent more than LAK 15.82 billion on assisting Lao […]
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