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ASEAN officials discuss efforts towards Vision 2025 implementation

The Lao PDR as Chair of ASEAN 2016 hosted and chaired the ASEAN Senior Officials’ Meeting (SOM) at the National Convention Centre in Vientiane Capital on Jul 22, 2016.

The meeting was chaired by Mr Alounkeo Kittikhoun, Minister to the Prime Minister’s Office and Laos’ ASEAN SOM leader in the attendance of senior officials’ leaders from ASEAN member countries, Deputy Secretary-General of ASEAN for ASEAN Political-Security Community and delegates.

Samarn Viyaket Dead at 89

It is with great sadness that the Party Central Committee, National Assembly, Ministry of National Defence, Lao Front for National Construction, and the Vignaket family inform Party members, civil servants and government employees, soldiers, and compatriots that Lieutenant General Samane Vignaket died at 00.24 am on July 22, in his 89th year.

President Vorachit demands severe penalties for lack of discipline

Party Chief and President Bounnhang Vorachit has instructed the top anti-corruption body to appropriately punish those officials found violating the regulations in a bid to stamp out malpractice and lax discipline.

Poll Finds Emails Weighing on Hillary Clinton, Now Tied With Donald Trump

Hillary Clinton has emerged from the F.B.I. investigation into her email practices as secretary of state a wounded candidate with a large and growing majority of voters saying she cannot be trusted, according to the latest New York Times/CBS News poll.

World Bank approves loan to Poverty Reduction Fund

The Poverty Reduction Fund Project will continue to improve livelihoods and upgrade infrastructure for residents of 150 rural villages in over 40 districts of 10 target provinces.

The Ministry of Finance yesterday signed a US$30 million agreement with the World Bank aimed at continuing to finance Laos’ Poverty Reduction Fund.

PM asks media ministry to work harder

Prime Minister Thongloun Sisoulith has asked the media to expose issues of social concern in a constructive manner in line with the Media Law, in order that solutions can be reached.

he premier issued the advice during a two-day national meeting of the Ministry of Information, Culture and Tourism held at the National Culture Hall in Vientiane, which ended yesterday.

Laos, Russia enhance bilateral cooperation

Laos and Russia have reaffirmed their commitment to strengthening intergovernmental cooperation in trade, economic, scientific and technical affairs after reaching an agreement yesterday

The agreement was signed in Vientiane by Minister of Investment and Planning, Dr Souphanh Keomixay, and Russia’s Minister of Telecom and Mass Communications, Mr Nikolay Nikiforov.

Number of Japanese Investors in Laos Surges As Country Integrates With Region

MORE AND more Japanese companies are investing in Laos given that the country is integrating with the region and the world and is improving its investment climate.

As of last month, the number of Japanese companies in Laos had climbed to 132, which is double the figure recorded in 2012, according to the Japanese Embassy.

Last year, Japanese businesses operated 22 investment projects in Laos, an increase of two projects from the year before.

However, the value of Japanese investments more than halved from US$38.49 million (Bt1.37 billion) in 2014 to $17.37 million in 2015.

The decline could be linked to the fact that fewer investment projects were operated by Japanese companies in the sectors that generally require large registered capital, such as power and mining.

As for investment trends, manufacturing is the dominant sector but recently Japanese companies have diversified their interests and are increasingly targeting agriculture, banking and consulting.

One of the most interesting features is that the number of Japanese companies investing in special and special economic zones (SEZs), notably in Champassak and Savannakhet provinces, has increased significantly.

In 2014, five projects were operated by Japanese businesses in SEZs with a total value of $5.43 million, rising to 10 projects in 2015 with a total value of almost $6 million.

There is no up-to-date report on the total value of Japanese investments in Laos, but in 2013 the figure stood at $405.7 million.

The government is keen for more Japanese investors to come to Laos because they are concerned about environmental and social responsibilities.

As major investors, the Japanese see Laos as a new production base following the improvement of the country’s infrastructure, legal framework and availability of cheap labour.

One of the main reasons Japanese companies have shifted from Thailand to Laos is because of the risk of flooding, political uncertainty and an increase in the minimum wage there.

Other factors have also led companies to Laos, such as the similarities between Thailand and Laos in language and culture, and competitiveness in labour rates and electricity fees, and the stable political situation in Laos.

It is relatively easy for companies that operate and have some know-how in Thailand to move to Laos, which is known as the “Thailand Plus One” strategy.

If the Lao government further improves the business environment, this momentum of Japanese investment in Laos is expected to accelerate in the future.

There is a framework for the discussion of business environment improvement between Laos and Japan, called the “Laos-Japan Public and Private Sectors Dialogue.”

This annual dialogue began in 2007, aiming to attract more Japanese investment in Laos through discussions about how to address the challenges that Japanese companies in Laos currently face.

These discussions are beneficial for the improvement of the business environment in Laos through the direct exchange of views between the private sector and the Lao government.

Japanese experts say it would be highly appreciated if the Lao government were aware of the issues facing the business sector and formulated concrete measures to address them.

Source: The Nation