The Bank of Laos (BOL) has issued a notice warning the public against the use of cryptocurrencies, including Bitcoin, Ethereum, and Litecoin, which are unregulated currencies that are not tied to physical cash reserves.
The notice, dated 29 August, is addressed to traders, merchants and ordinary citizens alike, warning against the purchase and sale of cryptocurrencies. It warns of the risks of cryptocurrency, and urges Lao people to study the issue in depth prior to making any investment or purchase of such products.
According to the notice, the rate of global technological advancement is ever-increasing, including the use of Blockchain technology, which is used in electronic financial transactions and is the basis for the rise of cryptocurrency.
Some Lao businesses have already begun acceptance of payment for goods and services in cryptocurrencies, as well as advertising investment or trade in these digital monies.
The Bank of Laos states in its notice that in accordance with the Law on Payment Systems, No. 32/NA, dated 07 November 2017, cryptocurrencies are not real currencies and should not be used for payment of debt. This is because the cryptocurrencies do not meet the standards required for use as currency and are not currently regulated by any legislation in Laos.
Secondly, Lao people are urged to take precautions before making any investment or trade in cryptocurrencies because of the significant risk attached to them, such as its potential use in money laundering or the funding of terrorist activities.
Traders are also warned that the currency suffers severe price volatility, and may be offered as payment for fraudulent activities.
A source at the Bank of Laos told the Laotian Times in a telephone interview that while there is no regulation governing the use of cryptocurrencies in Laos, such currencies can not to be used as a legitimate form of payment, making them effectively illegal.
An official from the Ministry of Energy and Mines revealed that Laos placed second in the list of the most expensive ASEAN countries in which to buy fuel.
The government officer released the startling statistic (dated May 2018) during a workshop aimed at sharing information and knowledge about electric vehicles and its application in and relevance to the Lao market. The workshop was organized by the Transport Department of the Ministry of Public Works and Transport and sponsored by EVLAO and CHOSEN Energy.
While Singapore topped the list at 13,550 kip/liter (gasoline) and 10,101 kip/liter (diesel) as the most expensive place to buy fuel, Laos came second at 9,992 kip/liter (gasoline) and 7,927 kip/liter (diesel).
Cambodia, the Philippines and Thailand placed 3rd, 4th and 5th, respectively. The cheapest place to buy fuel was oil-rich Brunei at 3,193 kip/liter (gasoline) and 1,902 kip/liter (diesel).
How do fuel prices differ in the ASEAN countries?
Transport Department Deputy Director General Boualith Pathomthong told workshop participants that the world was at present confronting the dual challenges of climate change and air pollution caused in part by the presence of an increasing number of traditional motor vehicles.
Many workshop speakers noted that many countries around the world were currently adopting policies and practices aimed at curbing the use of internal combustion engine-based vehicles, citing electric vehicles as a viable, environmentally-friendly alternative. They also noted that the use of electric vehicles could dramatically reduce Laos’ dependency on oil imports.
The biggest and most powerful smartphone is back in its latest iteration, the Samsung Galaxy Note 9, and comes with the new intelligent S Pen to really blow away the competition.
The product was officially launched in Laos by Lao Samsung Electronics on Tuesday.
The Samsung Galaxy Note 9 is possibly the highest performance Android device on the market, and includes a 4000 mAh battery with fast power charge, for long life and use.
It features a dual rear camera system including two 12-megapixel cameras, one wide angle with dual aperture and the other a 2x telephoto camera.
The phone includes 128 GB of internal memory and RAM at 6\8 GB, and features a 6.4 inch Super AMOLED Infinity Display screen size with QHD resolution and HDMI connectivity.
The latest addition to the newest in the Galaxy series is the Bluetooth-enabled S Pen, which uses a supercapacitor to operate the S Pen away from the phone for up to 30 minutes. Users can then simply slide the S Pen back into the phone body for a full charge.
The Intelligent S Pen can be used to activate functions on the phone itself, such as video or camera remote control, power point slide control, etc.
According to Managing Director of Lao Samsung Electronics, Mr. Seungho Choi, Samsung not only leads the smartphone market, but continually focuses on developing new functions for the convenience of users.
The Samsung Galaxy Note 9 was launched at an official ceremony in Vientiane, attended by Mr. Seungho Choi, alongside members of the business community, government officials, and invited guests.
The Samsung Galaxy Note 9 is now available at all Samsung retailers across the country.
Not surprisingly, to make my way over to LOCA headquarters for this story, I downloaded and installed the LOCA app. A vehicle was sent to my office to pick me up, and I tracked its progress on my mobile phone until a small, unassuming hatchback pulled neatly up against the curb. A message appeared on my screen; “I am here.” I hopped in the front seat and was greeted with a shy smile from Pui, my designated driver for the trip.
Pui says most of her passengers are foreigners already familiar with the ride-sharing concept. They are often business travelers visiting the city for the first time, taking a LOCA trip from meeting to meeting. She is one of the few full-time LOCA drivers who work Monday to Friday.
Pui, a full-time LOCA driver, escorts a passenger (the writer) to his destination
“My family has no idea what I’m doing. They don’t understand exactly what LOCA is. But they are happy that I’m working,” she says, noting that before LOCA she was unemployed.
“I worked as a delivery driver a few years ago. I liked the freedom it gave me, so I thought I’d try this. I get to be my own boss and I meet a lot of new people.”
With over 900,000 vehicles on the road and no viable public transport system insight, traffic in Vientiane is becoming a thing – a thing mentioned in casual conversation, a thing appearing in news reports, and a thing to be battled during the daily commute. Roads are small, cars are big, and people still double park to buy a bunch of bananas. It’s no wonder, then, that local tech firm Bizgital put their heads together and came up with a solution.
Arriving at the Bizgital building, I input a special promo code and find 80,000 kip sitting in my LOCA virtual wallet. The trip cost 25,000 kip, leaving me with some extra credit. Pui waits for her next passenger, and I head up the stairs to meet Souliyo Vongdala, Chief Technology Officer at Bizgital, the man behind the LOCA ride-sharing app.
It took six months for the team to draft the driver registration procedures, and Souliyo assures me that all drivers are thoroughly screened. They are provided a training video, and their first few rides are monitored to ensure they adhere to LOCA’s internal safety regulations.
Souliyo Vongdala, CTO of local technology firm Bizgital
“We have systems in place to minimize safety risks, although we can’t be there for every trip. If a vehicle’s insurance policy expires, for example, that vehicle will be automatically suspended until a new insurance policy is taken out.”
Cash payment was out initially, says Souliyo, but it was brought back in at a later stage due to high demand. And the problem of cash management turned out to be an opportunity.
“If you complete a trip that’s worth 50,000, you can give the driver a 100,000 kip note and ask them to deposit the remainder into your LOCA virtual wallet. That way you’ll have 50,000 kip in your account to use for future trips. The system automatically manages this.”
Drivers are paid weekly, and can choose their own working hours. However, being an entirely new concept, many drivers are apprehensive at first, unsure if they will turn a profit. To combat this, LOCA is investing heavily by setting guaranteed payments for drivers in case they don’t get enough traffic.
The dearth of public transportation is one of the reasons the LOCA app was created. But Souliyo sees more opportunities for his application with corporate clients, who can now send employees around town without the use of private vehicles.
“Your company will have access to a back-end system, and you can add employees into your account. LOCA will bill you for trips at the end of the month. Not only will you know how much it cost, but also where your staff go. It’s fair for both sides.”
LOCA’s beautiful and modern user interface
When asked if he’s worried about competition from taxis, Souliyo smiles. He knows that LOCA is cheaper than many taxis, and easier to find. And it eliminates discrimination against tourists, who are often charged double by certain unscrupulous taxi drivers.
The application now has over two thousand registrants, including over fifty drivers. But surprisingly, the biggest request from local people so far has been an extension of the app to include motorbike taxis. And LOCA is working with insurance agencies to make this happen.
“Even me, I want to take a motorbike taxi because it will be cheaper and faster during peak hour,” says Souliyo.
LOCA trips can be paid for with Visa or MasterCard, as well as cash, and the developers are working with local finance institutions to bring QR code payments online. So the future looks bright for LOCA, who plan to expand to every major city in Laos within the next few years.
When asked about the name of the app, Souliyo gives another knowing smile, and says that all the proposed names were thoroughly researched.
Bizgital team behind the LOCA app
LOCA is making a fantastic offer to the public: simply download the app and get your first ride for 80,000 Kip by entering the promo code “GETLOCAL80“. This promotion is available to new users only. Use this code with the wallet payment method when requesting your first ride.
Nakarath City in Chao Anouvong Park Partially Submerged Under Water
Aug 19 – Vientiane Capital authorities are on high alert as they prepare to protect against flooding in some areas of the capital city, after water levels were reported to have risen to 11.2 meters. 11.5 meters is the alarming level while 12.5 meters is considered dangerous.
The Vientiane Capital Authority has requested that the following public bodies of Vientiane Capital take the necessary precautions:
Commission on the Prevention and Control of Natural Disasters to monitor, instruct and prepare to provide assistance to the local population
Department of Agriculture and Forestry to monitor and inspect all water gateways
Department of Public Works and Transport to inspect all roads that may be impacted by flood water
Office of Urban Planning and Administration to check all sewage system points to ensure efficient drainage of flood water
Authorities of all districts near the Mekong River and its tributaries to warn its denizens, especially the ones in low grounds, to move all personal belongings to safe, high grounds; children to avoid playing near riverbanks
Law enforcement (military, police and village militias) officials as well as individuals are urged to create sandbags and use them to protect against flooding
Other parties to assist in whatever way they can
Images taken from Mahason Magazine show the alarming rise in the water levels of the Mekong River in the capital. Shop owners of the new market stalls in Nakarath City on the Chao Anouvong Park riverbank can be seen moving their belongings to high ground. The shops have been almost completely submerged under water. No casualties have yet been reported.
The Mekong River Commission (MRC) has welcomed the highly applauded and progressive decision of the Prime Minister of Lao PDR, following an extra-ordinary meeting of his cabinet on 6 August 2018, that the country will review all existing and under-construction dams and suspend the consideration of all new hydropower investments considering the Xepian Xenamnoy dam break.
According to the press release by the Lao government, the review and suspension will also afford the country to update its hydropower strategy and plan.
“As a regional intergovernmental organization, we wholeheartedly welcome the decision and initiative of the Lao Prime Minister to review all the dams and re-examine all new hydropower investments,” MRC CEO Pham Tuan Phan said. “We’re seeking ways to synergize Lao PDR’s efforts in reviewing and updating its hydropower strategy and plan with the MRC’s basin development strategy and plan and the on-going state of the basin report for a more sustainable Mekong region,” he added.
The MRC, in which Lao PDR is an active member, contributor and host to its Secretariat Headquarters, has long supported this country and three other Member Countries – Cambodia, Thailand and Viet Nam – in the sustainable development of the Mekong River basin. The Commission has both strategies and technical expertise at its disposal to assist the Member Countries, in particular Lao PDR, in this endeavor.
The MRC has recently completed a $4.7 million study on the Sustainable Development and Management of the Mekong River Basin, including the Impacts of Mainstream Hydropower Projects, known as “Council Study”. The Council Study, commissioned in late 2011 by the four Mekong Prime Ministers and completed in December 2017, indicates both positive and adverse impacts of planned water resources development.
Following the endorsement by the Mekong Prime Ministers at their 3rd MRC Summit in April 2018 to consider findings of the Council Study, the MRC is working to update a Mekong Sustainable Hydropower Development Strategy (SHDS) with alternative development pathways that consider the most optimal and sustainable portfolio of projects. This update considers regional energy needs and integration, national development goals, emerging forms of energy renewables, climate change, transboundary social and environmental considerations, cost and benefit sharing and joint projects.
The SHDS, expected to be approved by the Member Countries in early 2019, will lead to an adaptation of national plans and projects. It will also contribute to the 2019 update of a Mekong Basin Development Strategy (BDS) – a cooperative plan toward joint efforts to address national, cross-border and regional needs, challenges and opportunities – with a new Basin Development Plan (BDP) for the whole basin. The BDS/BDP prioritizes not only hydropower projects but also irrigation, flood and drought control, navigation and tourism.
The MRC will invite and closely work with its Dialogue Partners – China and Myanmar – in the update of the BDS/BDP because development and management of the Mekong River needs to be conducted from a whole of basin perspective. Mekong-related cooperation frameworks such as Lancang-Mekong Cooperation, Greater Mekong Sub-region, Lower Mekong Initiative, Mekong Japan, Mekong Korea, and Mekong Ganga are also called upon to engage and support.
The updated SHDS, Lao hydropower strategy and plan and BDS/BDP will pave the way for a more sustainable development of the Mekong River basin since prioritized development projects with high basin-wide benefits and low transboundary costs would be promoted, considered and built. These projects would then also facilitate the implementation of MRC’s guidelines, such as the Design Guidance for mainstream dams, which includes dam safety standards, and the Prior Consultation process under the Procedures for Notification, Prior Consultation and Agreement (PNPCA) – a set of three separate processes undertaken by MRC Member Countries for certain projects using water from the Mekong basin, which may significantly alter water flow or water quality of the Mekong mainstream.
“While the dam break is a national tragedy, it ushers in a new hope for a more optimal, sustainable and less contentious path for development of one of the greatest rivers in the world. The governments of Lao PDR and Mekong countries deserve all our support and I call on all other Mekong-related organizations and cooperation frameworks to join us,” CEO Pham said.
Project owners of the Xepian Xenamnoy Hydropower Project are working with local authorities to accelerate the construction of temporary accommodation to house those made homeless by the floods that devasted Sanamxay District of Attapeu.
12-14 temporary one-story structures, each with 10 rooms capable of housing 4 people are expected to be built. Toilets will also be included in the structures. If weather permits, construction is currently expected to take approximately 2 months since work began at the beginning of August.
The temporary structures will be built in a primary school in Hartyao Village and in Dongbok Village.
Director of the Attapeu Provincial Energy and Mines Department Vithaya Phommachanh said that in “in the future, we plan to build permanent houses in Tamoryord, Hindong, Nonthasengchanh and Dongbak villages as well as the necessary infrastructure.”
The number of people who will require accommodation in the temporary houses is unclear at this stage because the figures have fluctuated after some people returned home when the floodwater receded.
Sanamxay district chief Bounhome Phommasane said that there were over 7000 villagers affected by the flooding – over a thousand families from 6 villages were heavily impacted.
The affected families are currently living in 439 temporary camps in Sanamxay.
Large numbers of people are still in need of rice and other food, along with drinking water, cooking equipment, and other essential items.
As of yesterday, the death toll from the flood caused by the collapse of an auxiliary dam at the Xe-Pian Xe-Namnoy hydropower project had climbed to 35, including three injured people who died in hospital. Some 99 people are still missing.
Thousands of people in the southern province of Attapeu, whose homes were swept away flash floods following the collapse of an auxiliary dam of the Xepian Xenamnoy Hydropower Project in Laos several weeks ago, are seeking shelter in areas known to be contaminated by unexploded ordnance (UXO), experts say, as mud and flood water obstruct aid efforts.
The United Nations said that Attapeu is exceptionally contaminated by UXOs with almost 320 hectares in Sanamxay district (the site hardest hit by flooding), where people are sheltering in camps that are designated as “confirmed hazardous areas”.
“There’s a real danger that explosive items on or in the ground will have moved,” said Blossum Gilmour, Lao Country Director for Mines Advisory Group (MAG), a British NGO that assists people affected by landmines.
“Areas which have been cleared of bombs may need re-clearing … But also, as people are evacuated from their homes, they may be relocated to places which have not yet been cleared.”
Laos is the most heavily bombed country per capita in the world as a result of a secret bombing campaign by the United States during the Vietnam conflict several decades ago.
Much of Laos is still littered with UXOs, despite decades of clearance efforts, with about 300 new casualties each year, many of them children, MAG says.
Laos was hit by a tropical storm on July 18 and 19, which caused flooding in parts of 13 provinces, including Attapeu, the United Nations said. As floodwaters rose, a saddle dam that was part of Laos’ $1.2 billion Xe-Pian Xe-Namnoy hydropower project collapsed, sending torrents of water crashing into neighboring villages.
The U.N. said three camps “remain largely inaccessible” and that aid officials are in discussion with the military about using its helicopters to provide “last mile delivery” of relief items, including food.
With seasonal rains continuing until September and water levels rising in the Mekong River and its tributaries, “flooding across the country may spread further,” the U.N. said.
