Business

Laos Tightens Foreign Borrowing Rules as Debt Risks Persist

Laos has tightened controls on foreign borrowing as the government seeks to limit debt risks and reduce pressure on foreign-currency reserves and the Lao kip. Under a new Bank of Laos decision issued in August, individuals and companies must obtain central bank approval before taking certain loans, guarantees, trade credits...

Laos Cuts 7-Day Base Interest Rate to 7% as Economic Risks Persist

The Bank of Laos (BOL) has cut its seven-day base interest rate from 8...

Laos Studies USD 1 Billion Vientiane-Lidu Industrial Park in Pakngum

On 13 August, Laos agreed to study the development of a new industrial park...

Vientiane Halts New Microfinance, Pawnshop Licenses Amid Regulatory Review

On 31 July, the Bank of the Lao PDR (BoL) suspended applications for new...

Lao Authorities, Lao Bank Seek Legal Action Against Thai Media Over Money Laundering Claims

On 31 July, Lao authorities and Lao Development Bank (LDB) met with Thailand's Central...

Laos to Allow Foreign Ownership under Condominium Law

Foreigners will be allowed to own condominium units in Laos under a newly amended Law on Land. The new Law on Land has been published...

Star Fintech Signs Payment Link Deal With BIC Bank

Star Fintech has signed a Memorandum of Understanding with BIC Bank on cooperation and interconnectivity between the two banks. The signing of a Memorandum of...

Panyathip Students Overcome Pandemic Challenges to Graduate in 2020

Panyathip International School, the British international school in Laos, saw its class of 2019-2020 complete their graduation ceremony at the Landmark Hotel in Vientiane...

LOCA Introduces Pickup Truck Service on Ride-Share Platform

The LOCA ride-hailing service has announced that due to an overwhelming number of requests, the platform will be adding a pickup truck service. "Over the...

7-Eleven Convenience Stores to Enter Laos By 2022

7-Eleven has signed a master franchise agreement with CP ALL Laos, a subsidiary of Thailand's CP ALL Public Company, to operate 7-Eleven stores within...

Star Telecom Wins Stevie Award for U-Money Service

Star Telecom has received the Silver Stevie Award for Innovation in Consumer Products and Services for its u-money e-commerce solution. The telecom firm took home...