Home Blog Page 6364

Connectivity, Transport Keys to Unlocking Laos’ Growth Potential While “Navigating Uncertainty”: WB

By
-
Aiming for sustainable local, regional growth amid global uncertainty.
Reporters, officials join World Bank East Asia Pacific Economic Update conference call from Vientiane.

A complex and fast-changing world and a stronger US dollar on the back of interest rate rises could make for a rough or productive ride for business, investors and the economy in developing countries around the world seeking to ride the wave of continued economic growth, Laos included.

This was one of the take outs from a major regional report entitled East Asia and Pacific Economic Update released by the multilateral World Bank on Thursday.

According to the World Bank, Laos’ economic growth is projected to ease to 6.7 per cent in 2018, down from 6.9 per cent in 2017, remaining robust compared to regional peers.

It recommends that economies such as Laos:

  • Save some financial reserves for a rainy day and loosen up the exchange rate.
    “Reduce short-term vulnerabilities and build policy buffers. Greater exchange rate flexibility can help absorb and adapt to external shocks. Tighter fiscal policies can help preserve or rebuild buffers to cope with a future downturn, without threatening debt sustainability.
  • Trade is your friend.
    “Redouble commitment to an open, rules-based international trade and investment system, including through deeper regional economic integration. Regional economies could gain by deepening existing preferential trade agreements and lowering non-tariff barriers. A further escalation of trade tensions could be avoided by turning to bilateral negotiations or the World Trade Organization.”
  • Get your house in order.
    “Deepen structural reforms, including liberalizing key sectors, improving the business climate, and boosting competitiveness. Leveling the playing field between SMEs and large firms, and between foreign and domestic firms, could also help reduce resource misallocation and create jobs.
  • Build a social safety net.
    “Strengthen economic security and promote economic mobility though programs such as targeted cash transfers, fiscally-sustainable social insurance systems, better access to prenatal and early childhood development, and more resources to schools in geographically-disadvantaged areas so as to reduce gaps in access and quality of education.”

It comes after recommendations for Laos were covered in greater depth in the World Bank publication “Safeguarding Stability” completed in June (prior to major flooding).

In the report, Laos’ economic growth was “projected to ease to 6.7% in 2018, down from 6.9% in 2017, but is still robust compared to regional peers.”

  • “Growth in the power sector and the recent expansion of the manufacturing of electronic parts and components is expected to continue.
  • After a fall last year, tourism is gradually recovering with the number of international tourists and non-ASEAN countries increasing in the first quarter of 2018.
  • Mining output is expected to remain flat this year, but higher metal prices, compared to 2017, are likely to help exports.
  • Expansion of job-creating sectors such as agriculture, manufacturing, and services in recent years, as well as inflows of remittances, are expected to continue to support poverty reduction.
  • Inflation has started to pick up since late 2017, reaching almost 2% by April 2018, reflecting the increase in oil prices.
  • Credit growth further moderated to 11% by the end of 2017, and the trend continued in the first quarter of 2018.
  • The current account deficit narrowed slightly in 2017 due to strong exports of electricity, manufacturing and agricultural products, as well as higher mining exports, supported by improved copper prices. This trend in exports continued into 2018, but import is expected to grow as the construction of the Kunming-Singapore railway and oil prices pick up. Therefore, the current account deficit is projected to temporarily widen this year.”

It said that “despite improvements in macroeconomic management, risks remain.”

  • “Total budget revenues increased by 5% in 2017 compared to a year ago – slightly short of the target and declining to 16.1% of GDP.
  • Cuts in recurrent spending were not enough to offset the increase in capital spending, including for paying off arrears and public investment, mostly in the power sector. Total public spending increased to 21.4% of GDP in 2017, widening the deficit to 5.3% of GDP, up from 4.3% a year ago. Continued efforts to increase revenues and bolder steps on fiscal discipline will be needed to meet the 2018 target of 4.9%.
  • Public debt reached around 61% of GDP in 2017. Debt is largely external and on less concessional terms, which makes Lao PDR’s public debt vulnerable to risks for exchange rate volatility and, to a lesser extent, from interest rate increase.
  • Reserves remain low, with the ratio of reserves to foreign currency deposits at less than 30% and less than two months of imports. Greater flexibility in the exchange rate saw the kip depreciate against the dollar and the baht, narrowing the gap between the official and parallel market exchange rates.
  • Parts of the financial sector remain weak, including with low capital buffers, weakening loan portfolios, and low profitability.
  • The medium-term outlook remains broadly favorable, subject to improvement in fiscal and debt management, reforms in the business environment, and efforts to improve the viability of the power sector.
  • Growth is projected to rebound to nearly 7% next year as large power projects start operation and non-resource sector opportunities, for example agriculture, agro-processing, tourism, trade, and manufacturing, open up in response to improvements in the business environment.”

“Going forward, policies should aim to reduce risks and implement business environment reforms for long-term growth.

  • Taking bolder steps on the fiscal consolidation plan and fiscal discipline is an immediate priority. Improved tax administration, expanding the tax base, modernizing revenue collection methods and the ongoing revision of laws can contribute to higher revenue collection.
  • Public investment should be carefully prioritized and scaled back, particularly in the power sector.
  • Achieving stable and long-term growth will require vibrant private sector development, including addressing informality and constraints to doing business, as well as investing in human capital and infrastructure services.”

 

“Large challenges loom for the global economy”

The WB’s report comes as another global organisation, the International Monetary Fund (IMF) issued its own latest World Economic Outlook released overnight.

The IMF singled out ultra-low interest rates and surging debt levels as potential triggers for another meltdown.

“The extended period of ultralow interest rates in advanced economies has contributed to the build-up of financial vulnerabilities,” the IMF warns.

Increases in rates could see a turbulent ride ahead for global currencies and exchange rates and the willingness of creditors to lend at rates of interest that remain at historic lows.

“The large accumulation of public debt and the erosion of fiscal buffers in many economies following the crisis point to the urgency of rebuilding those defences to prepare for the next downturn.”

Fortunate Escape For 66 Folk? Search for Missing Flood Victims in Attapeu Officially Ends

By
Laotian Times
-
Search for Attapeu Flood Victims Offiically Ends

Sixty-six fortunate folk have been located alive as the Lao government taskforce headed by the Deputy PM reported 34 confirmed dead, 31 missing and another six post-flood disaster-related fatalities in Attapeu in final figures cited by to the nation’s news media Thursday.

The search for the remains of victims from the XePian Xe Namnoy hydropower Saddle dam D failure disaster has come to an official end, with a meeting presided over by Laos’ Deputy Prime Minister Sonexay Siphandone on Thursday was set to consider for confirmation a report and press statement on the loss of human life resulting from the July 23 flash floods in Sanamxay district, Attapeu province.

A draft press statement yet to be endorsed by the committee was reported on by Lao National Radio.

Lao National Radio
Lao National Radio on Sanamxay Flood Toll

It found the meeting of the National Disaster Preparedness Committee was expected to hear some 34 had been located deceased, a further six folk had since died in hospital from injuries sustained in the period since the disaster on July 23.

In a remarkable turn of fortune yet in fitting with the remoteness and challenges presented by the flood-affected area, it was also expected to endorse the finding that some 66 fortunate folk had been found alive. As a result, the number missing has been revised down to 31.

The meeting was also to report on efforts in the recovery and restoration of livelihoods for flood-affected households in Attapeu including progress on issues relating to water and food, clothing and shelter. It heard an overview of the situation concerning the livelihoods of survivors, specifically the progress made in constructing housing and the distribution of foodstuffs to flood victims.

It also aired the results of research on creating a special task force at the provincial level to promote, monitor and assist implementation of various works to help the affected population until Attapeu “can stand on its own once more”.

The number was revised down from the previous figure of 131 after it was discovered that some 66 persons including those who had been registered as residents and believed possibly missing were not in the affected area at the time.

According to the statement under consideration at the meeting, Interviews with village offices and those at the scene had revealed that 66 persons had escaped to different areas during the event and have since returned to be registered, reducing the official number of missing persons to 65.

Of this number, the remains of 34 were found in the search, leaving the number of persons unaccounted for at 31 persons.

Among those that were severely injured, the number of people who have died in hospital numbers six. In addition to those found deceased directly as a result of the catastrophe, the confirmed death toll from the disaster stands at 40.

The committee was also to hear minutes from a recent Prime Ministerial meeting, during which the PM highly valued and praised the efforts of the special task force. The statement indicated the efforts had been implemented as guided by the Party and government, and in accordance with the government’s disaster recovery plan.

The task force was expected to be told it must continue to assist in disaster recovery work nationwide, particularly in Attapeu, where the livelihoods of affected victims must be improved.

This could be achieved by creating new production areas, protection from diseases, daily needs and the continued construction of temporary and permanent housing, to ensure the livelihoods of affected victims will continue to be improved from their current fate and onward towards a state of greater livelihood security and normalcy.

 

Mouvement at the Cutting Edge of Men’s Fashion in Laos

By
Laotian Times
-
mouvement mens fashion Laos

Take a stroll through the markets of Laos and you will surely see the sinh, the long wraparound skirt which is the national dress for women. A vast array of patterns and colors allows women to be able to match the right sinh to any occasion. Sensing that these beautiful styles lacked a similar male outlet for sartorial expression, local fashionista Phonethida Somsaart embarked on creating her own clothing brand: Mouvement.

“In the past, there were only a few Vietnamese tailors making clothes for men which were rather basic. Now men’s tastes and interests in fashion have changed. Men are increasingly aware of global trends and styles on TV and online, so a simple suit is no longer sufficient,” she said.

Before opening, Phonethida enrolled in a short course locally to apprentice and to build her knowledge and skill in men’s fashion.

“At the beginning, I was doing everything from measuring, to cutting and sewing. Now I have built the shop up and have many staff, so I can focus more on handling customers and growing the business,” she added.

Mouvement now has two locations in Vientiane, aimed at serving discerning gentlemen who wish to be on the cutting edge of male fashion: the main branch in Phonsinouan, and a secondary branch in That Luang.

“We are considering expanding to other regions in the country, but we want to make sure that we maximize our reach in the Vientiane market first,” said Phonethida.

The shops have a wide variety of suits on hand to give ideas in selecting the right style, cut, and color. Fabrics in use include imported wools, polyesters, and linen. Phonethida is also inspired by traditional textiles made in Laos, so to bring more focus to local materials she has even begun using locally produced cotton and silk.

 

Staff are on hand in every step of the process to assist and offer advice to ensure the client is completely satisfied.

“At Mouvement, we focus on service. We offer free alterations for the lifetime of the suit, so if you gain or lose a few kilograms, we will alter the suit at no charge. If you care for your suit, it can last more than ten years!” adds Phonethida.
The tailors in the workshop are also very experienced and able to create artistic pieces in both Lao and foreign sizes.

Phonethida mentions, “we have begun getting more and more Westerners to our shop and we are delighted to be able to share a piece of Laos that they can take back to their countries.”

 

Mouvement’s main branch is located on Phonsinouan Street in Ban Dongpalanethong and can be contacted at
020 23 244 339 or https://www.facebook.com/mouvementbrandlaos

 

 

Text: Jason Rolan JASON ROLAN

Photographs by: PHOONSAB THEVONGSA & MOVEMENT

Originally Published in: Champa Meuanglao

Si Phan Don – The Original River Life Experience

By
Laotian Times
-
River Life Experience Tour Southern Laos

When I first visited Si Phan Don, which literally translates to Four Thousand Islands, I had the feeling that the pace of life in the rest of Laos might be a little fast. Here is where I came to understand the true meaning of ‘sabai-sabai’ or ‘taking it easy’.

Continue

Emmy win for HCM Trail Documentary: Mountain Bike champ Rusch traverses Laos in Blood Road

By
-
Rebecca Rusch
Rebecca Rusch's Blood Road (image Red Bull Media)

Traversing the mountainous spine of Laos, Cambodia and Vietnam, three-time world mountain bike champ, US mountain cyclist Rebecca Rusch’s eye-opening 2017 documentary Blood Road has won an Emmy, one of US televisions highest honors.

The documentary film brings the less adventurous and athletic of us on a ride to learning more about the trials and tribulations of remote and rural Laos, Vietnam and Cambodia post-Vietnam War (also known as the 2nd Indochina War or American War).

The film won the prize for Outstanding Graphic Design and Art Direction at Tuesday evening’s 2018 39th Annual News and Documentary Emmy Awards, helping audiences to understand the ongoing impact of war on Laos. The film was screened at the Luang Prabang Film Festival 2017.

The daughter of a military airman shot down in war, in 2015, Rusch set out on a journey to find her father’s crash site with a film crew.

Pairing up with Vietnamese cross-country mountain biker Huyen Nguyen, the pair retrace the 1,200-mile Ho Chi Minh Trail, a historic secret network through Vietnam, Cambodia, and Laos that the Northern Vietnamese used to supply forces in the south.

On their journey, they receive insights and assistance from many locals, keen to welcome and share their stories to create a better future. The film also received logistics support from local and international experts on the ground in Laos and beyond.

The endurance test brings the pair and the audience to face the past and to look to make a positive impact on the present and future.

Blood Road had its BC Premier earlier this year at the 2018 VIMFF.

The American author and ultra-endurance athlete was 24 Hour Solo Mountain Bike World Champion in 2007, 2008 and 2009.

Rebecca Rush celebrates Emmy win for Blood Road with followers on Twitter.

The film attracted warm reviews from the press upon release, including the LA Times,  ESPN and more.

 

Climate, Peace, Development Desires Aired as Laos Meets World at Annual UN Assembly

By
-
Mr Saleumxay Kommasith
Laos' Minister of Foreign Affairs Saleumxay Kommasith addresses the UN General Assembly.

Between US President Donald J. Trump’s signature America First rhetoric and self-appraisals generating “spontaneous murmurs” and the attendance of New Zealand’s first baby and mum Jacinda Adern, you might be forgiven for missing Laos’ Foreign Minister in the international news reports generated at the United Nations (UN) General Assembly this weekend.

Yet crucial issues of climate change, support for vulnerable communities and countries, sustainable development, peace on the Korean peninsula and beyond and the unilateral imposition of sanctions were among those issues raised by Laos when it had the opportunity to speak directly to the international community.

Laos’ Foreign Minister Saleumxay told the UN General Assembly on Saturday in New York that Laos supported and urged the international community to uphold and further strengthen multilateralism. “This remains one of the core values of our only universal organization, the United Nations,” he said.

Realizing the goals of the 2030 Agenda for Sustainable Development at a time of a changing climate requires national governments and the international community to work “hand-in-hand’ with extra thought to the vulnerable, particularly Least Developed Countries and Small Island Developing States. “Against this backdrop, it is more crucial than ever for world leaders to honour the commitments pledged in the Paris Agreement.”

Laos also highlighted the critical importance of peace and security for socio-economic progress in all nations. “Past experiences have shown that settling disputes by peaceful means is the best way to ensure durable peace that is essential for sustainable development of a nation.”

The international community must help build mutual trust and confidence among countries to support them overcome challenges between them and resolve disputes peacefully, he said.

As such, Minister Kommasith welcomed the thawing of relations in the Korean Peninsula and between the Democratic People’s Republic of Korea and the United States.“We hope that such positive momentum will be strengthened, thereby, contributing to the maintenance of peace and stability, and denuclearization in the region as a whole.”

He also called for the end to the economic blockade of Cuba, given that the enforcement of isolation and sanction measures imposed on any country may not bring about benefits to the international community. “On the contrary, it will cause a loss for all and lead to increasing hostility,” the minister said.

The Lao minister expressed his country’s concern on the continued lack of progress on the Isreal-Palestine front.“We hope that this long overdue issue on Palestine will be resolved by peaceful means in order to achieve a two-state solution where Palestine and Israel can live side by side in peace, security and within internationally recognised borders as stipulated in the relevant UN Security Council Resolutions,” Minister Saleumxay said.

Mr Kommasith also underlined the need to address the scourge of transnational crime, at all levels, noting Laos’ commitment with regional countries at the Association of South East Asian Nations (ASEAN) and the international community in the fight against illicit drug trafficking, illegal wildlife trade, human trafficking and other serious crimes.

Dr Phetsamone Indara is Lao PDR’s first Eye Health Hero

By
Laotian Times
-
Dr Phetsamone Indara

The International Agency for the Prevention of Blindness (IAPB) has recognised Lao PDR ophthalmologist Dr Phetsamone Indara as an Eye Health Hero.

Dr Indara, who performs eye surgery and treatments in partnership with international development organisation The Fred Hollows Foundation, is the first ophthalmologist from Lao PDR to receive the honour.

The Fred Hollows Foundation CEO Ian Wishart received the award on behalf of Dr Indara at an IAPB conference in India this week.

Mr Wishart said Dr Indara was one of only 22 global Eye Health Heroes for 2018.

Since 2005, Dr Indara has headed the Eye Unit of Oudomxay Provincial Hospital in northern Lao PDR and in 2008, he was appointed as the secretary of Lao Ophthalmology Society.

“Over the past 10 years, The Fred Hollows Foundation has been proud to partner with Dr Indara and the Oudomxay Provincial Hospital as we work together to end avoidable blindness in Lao PDR,” Mr Wishart said.

Dr Indara has 16 years of experience as an eye doctor. In his first five years of practice, he has already screened 35,325 patients and conducted 3,069 cataract surgeries.

Dr Phetsamone Indara and two of his staff at a mobile eye camp in Nam Ngeun Village, Namor District, Oudomxay Province.
Dr Phetsamone Indara and two of his staff at a mobile eye camp in Nam Ngeun Village, Namor District, Oudomxay Province.

In addition to screenings and eye operations, Dr Indara has played an active role in eye health research and training and has played a leading role in producing Lao PDR’s first hand book for primary eye care. The hand book is an essential national resource to train volunteer health workers in primary eye care.

Dr Indara said he was humbled to be named Lao PDR’s first Eye Health Hero.

“I love to see people empowered to lead independent lives. I am very happy to be a partner in helping the poor, and treating those who are blind to improve their vision and their quality of life,” he said.

“I also hope that future generations of eye health doctors, nurses and workers in Lao PDR can one day be eye health heroes and help end avoidable blindness in our country.”

The Fred Hollows Foundation is an international development organisation working to eliminate avoidable blindness worldwide in more than 25 countries around the world. In Lao PDR, The Foundation is active in 10 provinces, including Oudomxay.

For the past 10 years, The Fred Hollows Foundation has helped more than 106,000 people in Lao PDR see again, thanks to the commitment and tireless work of eye health heroes such as Dr Indara.

Swiss Horn, Lao Khene, Fanglao Whip Up A Storm for the Ages at Lao National Circus

By
-
Winds & Musics
National Circus with Swiss horn player Eliana Burki with Lao dance troupe Fanglao.

With a horn blazing, local and international folk were drawn out of Vientiane’s homes, guesthouses and hotels like the children in the fabled tale of the Pied Piper of Hamelin as “Winds and Musics”, a traditional x modern Lao-Swiss music/dance collaboration, descended with much fanfare upon the capital Friday night.

Out front from the beginning was the incredible swiss horn and saxophone of Switzerland’s own Eliana Burki, ably backed on guitar.

The outsized intruments were hard to miss, and the sounds they created well-adjudged sublime.

The attendees were entranced further when the swiss sounds were joined by the sound of the Lao khene pipe and drums.

Things went up another notch with the addition of dancers, expressing the sounds in the physical form, much to the selight of the crowd of many ages and nationalities.

The intimate yet inclusive Lao National Circus space once again proved a phenomenal locale within to enjoy live music, with the city’s denizens counting down the days until the next chance to enjoy each other’s company in the Lao capital.

Thank you to all including the Swiss Agency for Development and Cooperation the Winds & Musics Swiss-Lao ເຂົ້າຊົມຟຣີ event, Eliana Burki and all artists for a great Friday night experience in Vientiane, Laos!

Check out more images at @Laos Briefly.

1...6,3636,3646,365...6,629Page 6,364 of 6,629