The Bank of the Lao PDR has drafted a new administrative regulation intended to regulate currency exchange businesses following the depreciation of the Lao kip against foreign currencies. The Bank of the Lao PDR (BOL) made a commitment at the latest National Assembly session to try to maintain the value of the Lao kip against major international […]
Read MoreJapanese commercial bank Maruhan Japan Bank Lao and local ride-hailing service Loca Laos have inked a deal on an e-commerce automated settlement solution to be provided by the Japanese bank. A signing ceremony was held at Maruhan Japan Bank headquarters in Vientiane yesterday, with the agreement signed by Maruhan Bank Chief Executive Officer, Mr. Anthony Chin, and […]
Read MoreWhile Laos has been promoting a one-stop investment service for many years, lawmakers admit that the reality remains a tedious process mired in bureaucracy. Speaking at the National Assembly’s ninth session yesterday, Deputy Prime Minister Dr. Sonexay Siphandone expressed his dissatisfaction that investors still need to obtain approval from each line ministry responsible for a […]
Read MoreThe Government is set to review the gross domestic product (GDP) growth target and present the revision to the upcoming session of the National Assembly for discussion, following an economic downturn due to the Covid-19 pandemic. The National Assembly is to open its ninth ordinary session of the 8th legislature in Vientiane tomorrow. A range […]
Read MoreElectricity rates have sparked debate once again, with a new adjustment to be made for use between 151 – 461 kilowatt-hours (kWh) per month during the Covid-19 period. A press briefing was held at the Prime Minister’s Office yesterday regarding the results of the monthly government meeting, held on Wednesday, during which the issue of […]
Read MoreRecent reports in Laos of price surges for essential foods and medicines, rising unemploymentand ballooning national debt, are proving to be a case study for local policymakers to avoid as the COVID-19 economic fallout worsens. Comparisons between the neighbouring countries are clear after a recent World Bank report outlined mirrored economic conditions this year, after […]
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