Business

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 percent to 7 percent a year as inflation remains below the government’s 8 percent target. The Monetary Policy Committee approved the cut at its meeting on 20 August, where it reviewed monetary policy, economic conditions, fuel...

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...

Chinese Commerce Chamber Urges Businesses in Laos to Cut Ties with Scam Networks

The General Chinese Chamber of Commerce in Laos has told its members to check...

Vietnam President To Lam Visits Laos, Strengthening 62-Year Cooperation with New Agreements, Initiatives

President of Vietnam, To Lam, visited Laos on 11-12 July, receiving a warm welcome from President of Laos, Thongloun Sisoulith. The visit aimed to enhance...

Vientiane Council Urges Compensation for Thanaleng Dry Port Affected Residents

The Vientiane People’s Council has called for compensation for residents who lost land or property due to the construction of the 51.1-hectare Thanaleng Dry...

China Targets Southeast Asia in Bid to Lead Global EV Market

China's growing electric vehicle (EV) industry has its eyes set on dominating the Southeast Asian market as part of its broader ambition to lead...

Thai Tourists Go Cashless in Laos with New QR Payments

Thai tourists visiting Laos can now conveniently scan QR codes to pay for goods and services, thanks to a new cross-border payment system recently...

Efforts Underway to Lower Airfares Between Bokeo-Vientiane

The Lao government is negotiating with Bokeo International Airport to establish affordable Lao Airlines flights between Bokeo Province and Vientiane Capital.  This effort aims...

More Than 415,000 Lao Workers Abroad Affecting Domestic Labor Market

Over 415,000 Lao workers are currently employed abroad, exacerbating a labor shortage in the country, as highlighted by Baykham Khattiya, Minister of Labor and...