A new $6 billion Chinese-built railway line opens in Laos this week, bringing hopes of an economic boost to the reclusive nation, but experts are questioning the benefits of a project that has seen thousands of farmers evicted from their land. The 414-kilometre route, due to open on Friday, took five years to construct under […]
Read MoreThe United Nations General Assembly has adopted a resolution that will see the graduation of Laos from the least developed country category. Laos, along with Bangladesh and Nepal, will officially graduate from the least developed country (LDC) category after the UN General Assembly adopted a resolution on the three nations yesterday. According to a statement by the […]
Read MoreThe Bank of Laos has ordered Phousy Group to cease operations of its Cryptocurrency exchange known as Welnance. According to a notice issued yesterday by Director-General of the Payment Systems Department, under the Bank of Laos (BOL), Mr. Soulysak Thamnuvong, digital asset business activities operated by Phousy Group have not been undertaken in accordance with […]
Read MoreThe government of Laos plans to spend over USD 100 million to promote domestic production in the country and boost exports. A loan from China’s National Development Bank (CDB) will be used to fund select enterprises amid the government’s efforts to increase domestic production and exports to foreign countries, according to KPL. Governor of the Bank […]
Read MoreLaos expects to earn USD 463 million in the final quarter of this year from mineral sales both domestically and for export, after earning USD 1.464 billion in the first nine months of 2021. Deputy Prime Minister Dr. Sonexay Siphandone told the National Assembly last week that the value of mineral sales this year is […]
Read MoreRepresentatives from Thailand, Laos and China held a tripartite meeting via video conferencing on Friday to discuss the construction of a dual-track railway link between the three countries. Attending were Transport Ministry’s deputy permanent secretary Sorapong Paitoonphong and officials from other transport-related agencies like the Department of Rail Transport (DRT) and State Railway of Thailand […]
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