Economy

Laos to Reopen Applications for Non-Bank Financial Institutions by End of 2026

The Lao central bank plans to resume accepting applications to establish new non-bank financial institutions by the end of 2026, after suspending new applications earlier this year to review and update licensing regulations. Visone Saysongkham, head of the non-bank financial institution supervision department at the Bank of the Lao PDR...

Vientiane’s Smart Road Cleaning, Cooling Pilot Project Nears Completion

Vientiane’s Smart Clean-Cooling Road System pilot project has reached 95 percent completion, and contractors...

Laos Inflation Rises to 7.8 Percent in September as Education, Utility Costs Climb

Laos’ inflation rate rose to 7.8 percent in September, up from 7.7 percent in...

African Swine Fever Disrupts Pork Supplies, Beef Prices Rise in Vientiane

The pork shortage is putting pressure on Vientiane’s meat markets as African swine fever...

Corruption Crackdown in Laos’s Attapeu Province Uncovers Millions in Financial Irregularities

Attapeu authorities have detailed five years of corruption investigations and financial irregularities, including a...

Laos Enhances Business Infrastructure With Streamlined Approval Process

In a move to foster a more conducive business investment environment, the Lao government has approved a new regulation set to slash the registration...

Laos Government Imposes Higher Fines to Curb Unlawful Mining Practices

In a move to penalize mining companies that carry out unlawful practices, the government has issued fines of over a billion kip to ensure...

Luang Prabang Targets 1.7 Million Tourists Amid Heritage Preservation Concerns

Luang Prabang is set to dazzle visitors in Visit Laos Year 2024, aiming to attract both domestic and international visitors throughout the year. However,...

Laos Partners with Chinese Firm for Tech Advancement in Mineral Exploration, Environmental Management

The Lao government has joined forces with a Chinese firm to revolutionize mineral exploration, natural resource mapping, urban planning, and environmental management across Laos. On...

Oxfam Warns of Trillionaire Emergence as Wealth Soars Amid Global Poverty

The wealth of the world's five richest individuals has soared by an alarming 114 percent since 2020. With Oxfam predicting the emergence of the...

Tallest Building in Laos to Open in March, Marking 75th Army Anniversary

The upcoming 75th anniversary of the Lao People’s Army will be marked with the grand opening of the towering 33-story Latsavong Plaza in central...