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Govt, Microsoft to Accelerate Digital Transformation

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Software giant Microsoft has underscored its commitment to empowering every person and every business in Laos.

The initiative is in line with Microsoft’s National Empowerment Plan, which aims to advance the adoption of emerging technologies for sustainable development.

Another objective is to generate new business development opportunities, especially those with positive societal impacts.

This information was outlined during the Empowering Laos’ Conference, co-hosted yesterday by the Ministry of Post and Telecommunications and Microsoft in Vientiane.

Attended by key government officials and partners, the event demonstrated how the government can leverage technology to digitally transform and support economic development. This cloud-based, digital transformation roadmap is especially aimed to enable emerging markets, such as Laos, to harness the power of technology to embark on a digital transformation journey, aligned with their national priorities.

Speaking at the government solution day event, General Manager, Public Sector, Microsoft Asia Pacific, Vivek Puthucode, said the benefits of the digital economy remain out of reach for many in emerging markets despite the enormous untapped opportunities across various industry sectors.

Our approach is to work closely with governments and public sector agencies to support them in overcoming challenges and building more cloud-enabling environments to accelerate their competitiveness, productivity and modernisation of operations through trusted technology, Puthucode said.

We have worked with governments in neighbouring Indochina countries and witnessed how they have successfully harnessed the power of technology to leapfrog to their next stage of economic development. We are confident that Laos will be able to follow suit and build on their learning as part of their own digital transformation journey, Puthucode added.

With the introduction of Microsoft Office 365 business productivity services in Laos, Microsoft also aims to set in motion a reinvention of productivity in enterprises across the nation, transforming employee collaboration and customer engagement through the power of the cloud.

Embracing trusted technology, particularly the power of cloud computing, will be key to enabling Laos’ growing economy to take a giant leap forward, propelling our nation into a lower-middle income country, said Minister of Posts and Telecommunications Dr Thansamay Kommasith.

Government Solution Day affirms our vision of working with a trusted solutions innovator such as Microsoft to drive inclusive growth transforming the way both public and private sectors operate not only by ensuring the accessibility of tools, but also by establishing the right processes and building the digital skills of our citizen.

Besides having access to the right tools, people must also know how to use them, General Manager of Southeast Asia New Markets, Microsoft Asia Pacific, Michelle Simmons said.

Looking ahead, what will be critical for Laos to thrive is digital literacy. We are working with the government to not only deliver educational programmes, but also to support the educators themselves with the right resources to impart science, technology engineering, and mathematics skills to local youth, preparing them for the jobs of the future.

Microsoft had previously inked a Memorandum of Understanding with the Ministry of Education and Sports in Laos to develop a holistic plan to leverage technology for education, covering a range of programmes that support the development of 21st century skills and employability of students.

Source: Vientiane Times

Ambassador Highlights Laos-Russian Cooperation

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Reconstruction of health facilities, involvement in UXO clearance, and the maximisation of benefits from the use of natural resources in Laos are all fields in which the Russian Federation may provide assistance to the country under their cooperation efforts.

Russian Ambassador to Laos, Mikhail Baranov delivered the message about the perspectives on cooperation between the two countries at a meeting held in Vientiane on Wednesday between Russian officials and representatives from different agencies of the Lao government along with media personnel.

The ambassador mentioned geological exploration, which he said complied with the programme on international development cooperation, and would be useful for Laos.

According to him, this means Russian geologists will assist Laos in exploring and setting the record about what valuable minerals are existing in the country’s territory.

This assistance to the Lao side will help it make better and more rational use of its abundant resources, Ambassador Baranov said.

After Laos and Russia reached an agreement on economic cooperation in 1991, the economic and trade cooperation between the two countries has gained new momentum in recent times.

As of 2009, Russia has invested US$52 million in 12 projects in Laos concerning mining and energy development, and industrial administration.

Mr Baranov referred to the outcome of the 12th meeting of the Laos-Russia joint commission on trade-economic and scientific-technical cooperation held in June, which has confirmed the fields of telecommunications, hydropower, civil aviation, minerals and mining, and office supplies as priorities of cooperation between the two countries.

He noted VimpelCom Lao, the telecommunications service provider of Beeline as a major Russian investor in Laos, which he said had a secure business operation, providing quality mobile phone and internet signals.

Also mentioned by the ambassador, the International Book Company-Securities (Mezhdunarodnaya Kniga), which has been operating in Laos for many years, will prove a reliable partner for the country.

The agreement of the two governments on permission for their citizens to stay in each other’s countries for periods up to 30 days without a visa was noted by the ambassador, as part of joint efforts in promoting tourism and exchange visits between the two nations.

Cultural exchange and education are also in the spotlight of cooperation between Laos and Russia, with increasing offers of scholarships by Russia for Lao students to continue their studies at Russian institutes and universities.

More than 80 Lao students received Russian scholarships this year, while only 37 students received the awards last year.

Laos’ Ministry of Science and Technology and Russia’s Tomsk State University signed a Memorandum of Understanding on cooperation last month, while both sides agreed upon the establishment of a Russian university research centre at the National University of Laos.

An artists’ group from Saint-Petersburg also performed in Vientiane last year, while Russian Week was organised in the Lao capital this year.

A joint orchestra concert of youths from ASEAN and Russia will take place in Vientiane next year, according to the ambassador.

Source: Vientiane Times

Nayoby Bank to Increase Loan Amounts, Expand Branches

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Nayoby bank will increase the maximum loan amount it releases to a customer from the current 30 million kip to 50 million kip next year and expand its service coverage in a move to enable more farmers to access finances for their production needs, a bank governor has said.

Governor of the Bank of the Lao PDR, Dr Somphao Phaysith revealed the plan recently when he addressed the National Assembly (NA)’s ordinary session.

We will increase the credit budget for the bank [Nayoby bank]. We plan to announce the new policy by the end of this year, he told the session.

The state-own Nayoby [policy] bank, whose policy is to particularly release loans for poverty-fighting schemes, will also expand its loan service coverage along with considering lower interest rates for loans, Dr Somphao said.

We will study lowering our interest rates appropriately, he said.

The planned improvement of the bank’s policy including its plan to expand service coverage will be made in line with the Party and government’s policy that intensifies efforts to alleviate poverty, the bank governor told the NA.

To expand its loan service coverage to reach local people in remote communities, the bank – which now has 10 branches and 71 service units – will inaugurate a pilot scheme by integrating its loan services with some village funds.

Dr Somphao admitted that commercial banks in Laos have been unable to expand their branches and service units to all communities across the country.

The bank governor responded to a question raised by members of the parliament asking about the loan policy of the Nayoby bank after learning there have been irregularities in the loan approval process.

Dr Somphao admitted that there were 17 irregular cases over the past few years but all those cases have been addressed and those officials involved have been disciplined.

The cases included some where individuals who collected the names of local people and claimed they were representing the people in applying for loans from the Nayoby bank, for which the bank released the loans.

The bank’s officials thought they [the individuals] were truly representing the people and released the loans, he said.

In this regard, once the loans were disbursed and the bank’s officials came to collect the money back, they found that the people did not know and did not receive any loans.

In addition, there were cases in which borrowers (people) paid back the loans but the bank’s officials did not hand out the money to the bank.

Dr Somphao said a number of measures have been taken to address the cases and penalise the involved parties.

Source: Vientiane Times

Laos-China Railway Awaits Landmine Clearance

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Laotian Times
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Construction of the Laos-China railway in Luang Namtha province has yet to commence as some UXO clearance activities need to be completed before the rail builders can move full steam ahead with the project.

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Country Makes Remarkable Achievements in Foreign Affairs

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The relations between the Lao PDR and great powers have seen positive escalation, while the nation has maintained normalcy in its relations with developed countries, reflecting some remarkable achievements in Laos’ foreign affairs.

The achievements were disseminated at the 13th meeting on foreign affairs, which opened yesterday in Vientiane, with Minister of Foreign Affairs Mr Saleumxay Kommasith presiding over the meeting to review the performance of the sector over the past three years.

A report disseminated at the meeting remarked on two events including the second political consultation held in Moscow, Russia, and the 11th meeting of the Laos-Russia joint commission on trade-economic and scientific-technical cooperation as achievements towards the active improvement and upgrade of relations with great powers.

These have contributed to deepening the friendship and good relationship between Laos and Russia, as well as between the two ministries of Foreign Affairs, the document stated.

Meanwhile the relations between Laos and the United States have seen the exchange of visits between top leaders, and the visits of high-level delegations and experts. The two countries signed an agreement earlier this year on trade and investment during the special ASEAN-US Summit.

The United States is considering granting rights under the Generalised System of Preferences to Laos as a least developed country, aimed at promoting imports from Laos to the United States, with a special focus on textile and garment products.

In addition, the European Union announced at the Laos-EU JC meeting held in Brussels in 2014 that it would provide 207 million euros as Official Development Assistance to Laos from 2014 to 2020.

The cooperation between Laos and France was noted as a historical milestone, with France continuing the provision of US$25 million a year as assistance in the second phase for bilateral cooperation projects in agriculture, health, cultural and education infrastructure.

The meeting was held under the theme: Preventive diplomacy and breaking through in the mission of national defence and development, enhancing ownership for regional and international integration.

The ministry’s leaders, department directors, ambassadors, diplomatic permanent representatives and consular generals overseas, as well as senior diplomats were in attendance to identify deficiencies and seek solutions for addressing them, and making new achievements in the nation’s foreign affairs.

Strengthening the capable leadership and the ownership of civil servants in the sector was a special topic of discussion at the meeting.

The government has been actively promoting its cooperation with the international community following the direction of building a state governed by the rule of law through implementing its obligations to the international community.

As of today, Laos is party to more than 900 international conventions. In relation to 450 of these conventions, it has bilateral agreements with 65 countries.

As of this year, the Lao PDR has diplomatic relations with 139 countries around the world, and maintains 39 embassy offices overseas. Of this number, 26 are embassies, three are permanent representative offices, nine are consul generals, one is a consulate office, and the nation also has honourary consulate offices in 17 countries.

The ministry has a total personnel of about 1,000 people, of whom 250 people are implementing their mandates in overseas locations.

Source: Vientiane Times

BCEL-KT: Trade Summary (Dec 7, 2016)

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Trade Summary

On Wednesday, Lao Securities Exchange, the index stayed unchanged at 1,028.48 points, posting a small trading volume of just 1,100 shares, making around 5,550,000 kip. As the banking stock played an important role today with 700 shares exchanged at the unchanged price, 5,100 kip. In addition, EDL-Gen had only 400 shares matched at 5,100 kip.
Nevertheless, the rest show no execution as LWPC closed at 5,400 kip, PTL at 2,500 kip and SVN at 3,000 kip respectively.

Trade Surplus Predicted for 2016

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Phousy Construction and Development Public Company (PCD) will continue its public share offering roadshow in Hong Kong and Singapore next week in an effort to raise funds for the operational needs of the company.

Chairman of the PCD’s Board of Directors Mr Sithong Phommachith made the statement during the public share offering roadshow launched in Vientiane on Monday night.

In his opening remarks, Mr Sithong stressed that PCD-one of the nation’s leading design, engineering, procurement, and construction service providers- will also launch a similar event in Luang Prabang province today (December 7), saying The public share offering roadshow will help investors to understand the company, especially its vision and development plans.

PCD recently has sought permission from the Lao Securities Exchange (LSX) committee to launch a share offer to raise funds for the company’s operational needs.

Mr Sithong said the PCD submitted a proposal to the committee asking for permission for an initial public offering (IPO) of 150 million shares and the company expected to raise not less than 300 billion kip from this mobilisation.

He highlighted that the expected mobilised funds will be used to purchase machinery and equipment for construction works and research and development purposes.

We will also use funds as turnover capital for construction works and business operations of the company, Mr Sithong said.

He expected the share offer to sell out and said the group would pay dividends to shareholders twice a year.

A financial consultant revealed that the company has enjoyed strong business operations with a backlog of work which will generate about 393 billion kip in income.

In addition, the company is conducting survey and design work to bid for contracts that would amount to 1,276 billion kip, due to the fact that Laos still needs massive investment to develop its infrastructure and the nation enjoying outstanding economic growth compared to other countries in Southeast Asia.

Mr Sithong said PCD submitted the proposal on November 16, 2016 to sell 150 million shares with each share expected to cost not less than 2,000 kip (par value).

At present, the company has registered capital of 700 billion kip and once it is registered on the LSX the registered capital will rise to approximately 1,000 billion kip.

The cost of the IPO will be precisely defined once the LSX committee approves the company’s proposal.

The company has set an ambitious goal to become the country’s leading construction and development service provider towards expanding its business services into the ASEAN Economic Community.

He stated that 45 billion kip of the funds to be raised will be used to purchase machinery and equipment for construction works.

Another 15 billion kip will be used for analysis and development affairs, 150 billion kip will be used as turnover capital for construction affairs, 60 billion kip will be used as turnover capital for the company’s business operations while about 30 billion kip will be used to repay existing loans.

Speaking briefly during the meeting, PCD’s CEO Ms Philaiphone Vongpraseuth, said the company currently has three undergoing construction projects totalling of about 840 billion kip.

In her presentation, Ms Philaiphone stated that the company had also carried out survey and design on some other projects and is prepared to participate in biddings. The combined cost of these projects is expected to reach about 1,276 billion kip.

Ms Philaiphone said the company employed a qualified and competent team of engineers and staff as well as modern construction technologies and equipment to deliver good quality work in a timely fashion.

Due to these factors, the company had gained the confidence of customers enabling it to grow rapidly, Ms Philaiphone added.

APM (LAO) Securities Company Limited CEO Mr Somphob Sakpanpanom said he strongly believed that PCD would grow further, especially once it is registered with the LSX as additional funds can be raised to facilitate the company’s development and operational needs.

Monday’s meeting was attended by Minister of Public and Works and Transport Dr Bounchanh Sinthavong, the Deputy Governor of the Bank of Lao PDR Mr Sonexay Sitphaxay, senior officials from line ministries and organisations concerned, and other invited guests.

Source: Vientiane Times

Australia Continues to Support Lao Students

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The Australian government is continuing its support for local students to further their education by studying at the National University of Laos (NUOL) this year.

The support comes from the Laos Australia National Scholarships (LANS) Programme, focusing on helping poor students around the country.

This year, about 52 scholarship awardees will join over 280 other students currently pursuing undergraduate degrees. Another 20 scholarships were presented to students from northern Laos last month, who will complete their LANS degrees at Souphanouvong University in Luang Prabang province.

Australia’s Ambassador to Laos, Mr John Williams, speaking yesterday before the LANS congratulations ceremony, said the programme sought to provide a chance for high-performing high school leavers from regional Laos to complete quality university degrees.

He said the LANS programme, currently in its sixth year, covered not only tuition costs and living expenses, but a separate Academic Support Programme to build study and life skills, including intensive English language training.

Through LANS, Australia is delighted to be able to help young, talented Lao men and women from a number of provinces to gain the knowledge, skills and qualifications they need to build rewarding and productive careers, he said.

The 52 new scholars, including 26 women, were selected from hundreds of school leavers entering the National University this year. They are keen to pursue careers in science, education, law, business, agriculture and the environment – all areas vital for the economic development of Laos, he added.

It’s hoped in the future LANS graduates will be able to compete and win selection for Australia Awards and other quality international scholarships programmes to complete higher degrees overseas and build even stronger skills to support Laos’ development.

Vice President of National University of Laos, Ms Somchanh Bounphanmy, said every year, Australia offered scholarships to students from remote districts for tertiary study at the NUOL and Souphanouvong University.

LANS covers tuition fees, a monthly stipend, home travel, extra tuition and other university costs. She said young people’s education was about personal development, improving social skills and opening up minds to new horizons and possibilities while determining the path they will eventually take in their professional lives.

It’s also about determining where you will make your mark in life. How you can rise to the personal challenges you set yourself. And how you can contribute something back to the Lao PDR and its socio-economic development, not least in your home districts or provinces, she added.

 

Source: Vientiane Times

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