The Governor of the Bank of Lao PDR, Mr. Bounleua Sinxayvoravong, presented a bold proposal to the National Assembly, calling for stringent limitations on luxury imports as a key strategy to combat inflation in Laos. During a recent session at the National Assembly, Mr. Bounleua Sinxayvoravong discussed the rampant inflation in Laos and the unique challenges it […]
Read MorePrime Minister Sonexay Siphandone signed a seven-page order on 14 July to ensure that foreign exchange earned through exports and foreign investments, enters the country through its banking system. According to Xinhua, this latest regulation during a time of soaring inflation and mounting public debt, is an effort to increase the supply of foreign currencies in […]
Read MoreKakao Pay Corp., a mobile payment and digital wallet service in South Korea has launched an overseas ATM withdrawal service in partnership with Global Loyalty Network (GLN), an overseas payment platform under Hana Bank, to allow users to withdraw national currency in Laos, Vietnam, and Japan using just their mobile phones. To use the service, […]
Read MoreThailand’s cabinet has agreed to allow 500,000 foreign workers from Laos, Cambodia, Myanmar, and Vietnam to stay until the end of the month, to sort out their work permits to legally work and live in the country. Traisuree Taisaranakul, the Deputy government spokeswoman, said on Thursday that the agreement was reached on 4 June, following an amnesty program […]
Read MoreThe Ministry of Industry and Commerce (MTC) announced a number of measures to promote domestic production and reduce imports during the 5th Ordinary Session of the 9th National Assembly last week. Deputy Minister of Industry and Commerce, Mrs. Chansouk Sengphachanh, said that the MTC has been working with the Ministry of Planning and Investment to […]
Read MoreThe governor of the central bank highlighted the root causes of the foreign currency shortage and outlined key measures to address them during debates at the National Assembly last week. In response to questions raised by members of parliament, the Governor of the Bank of the Lao PDR, Dr Bounleua Sinxayvoravong, said Laos has faced […]
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