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 Remains Unable to Streamline Investment Process

While Laos has been promoting a one-stop investment service for many years, lawmakers admit that the reality remains a tedious process mired in bureaucracy....

Lao Railway Staff To Take Intensive Chinese Language Course

Lao employees who are to operate the Laos-China Railway have begun an intensive Chinese language course at the Confucious Institute of the National University...

Johnson & Johnson Discontinues Skin Whitening Creams in Asia

Johnson & Johnson has made a decision to cease the sale of skin whitening creams popular in Asia after its products have come under...

Chao Anouvong Park To Be Upgraded In Bid To Attract Tourists

Chao Anouvong Park is to receive renovations to improve the site in a bid to attract more tourists, both foreign and domestic. Fujiwara Enterprise, in...

Ministry of Labor Orders Employers to Pay Wages Despite Pandemic

The Lao Ministry of Labor and Social Welfare has instructed employers to ensure workers are fairly compensated despite an economic downturn due to the...

Nikon Cuts Workforce in Laos and Thailand

Nikon has published a revised financial forecast, releasing its 2020 fiscal year financial results, and announcing it has had to cut ten percent of...