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...

Lao Central Bank Issues Statement to Clarify False Foreign Account Claims

The Bank of Lao PDR (BOL) has issued a statement to dismiss false claims circulating online that suggest foreign currency bank account holders may...

Laos, Cambodia Launch Cross-Border QR Code Payment System

The 13th multilateral meeting between the Bank of Laos and the National Bank of Cambodia was held in Vientiane Capital last Friday to discuss...

Lao Govt Issues Loan Policy of USD 128 Million to Boost Economy

The government of Laos has rolled out a credit policy of about LAK 2.5 trillion (USD 128 million) for some industries to enhance the...

Laos Conducts Trial of Digital Kip And Launches QR Payment with Cambodian Bank

Keen on digitally transforming the country's economy and banking systems, the Bank of Lao PDR (BOL) successfully trialed the “Digital Lao Kip,” and implemented...

Laos-China Railway to Increase Ticket Prices by 20 Percent This Year

The Laos-China Railway Company has proposed to the Lao government to increase the price of train tickets this year, due to considerable exchange rate...

Laos, Cambodia Regulators Collaborate to Boost Capital Market Growth

The Securities and Exchange Regulator of Cambodia (SERC) and the Lao Securities Commission Office (LSCO) signed a Memorandum of Understanding (MoU) last week to...