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Monday, December 23, 2024
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Economy

Korea Funds Bridge, Road Safety Upgrades on National Road in Laos

On 19 December, the Korea International Cooperation Agency (KOICA) announced a grant of USD 13 million to upgrade six bridges and improve road safety on National Road No. 8 which connects Laos, Thailand and Vietnam.   Korean Ambassador Jung Yung Soo highlighted the project as a symbol of Laos-Korea cooperation and...

Vientiane Surpasses Poverty Reduction Target, 99.43% Progress Achieved

Almost the entirety of Vientiane’s population is now above the poverty line, according to...

State Budget Mismanagement Uncovered in Vientiane Capital

Laos is facing issues in managing its state budget, with billions of kip unaccounted...

Rising Costs Prompt Market Reform Proposals

National Assembly Representative for Vientiane Capital, Valy Vethsaphong, has called on the Lao government...

Vientiane Economy Hits 5.85 Percent Growth, Beating Expectations

Vientiane Capital's economy grew by 5.85 percent, surpassing the National Assembly's initial target of...

Lao Government Approves Tax Reduction on Diesel for Farmers

The Government of Laos has agreed to abolish the excise tax on diesel, which was previously levied at 15%, in an effort to reduce...

Chinese National Commits Suicide on Laos-China Railway

A Chinese national was killed by a Vientiane-Boten freight train on the Laos-China Railway on 3 August in Naxaythong District. Lao Public Security Television...

Laos Behind Other ASEAN Nations in Digital Maturity

Laos ranks ninth out of the ten ASEAN countries in terms of digital access, affordability, and quality of internet services, according to a new...

Fitch Downgrades Laos’ Long-Term Foreign-Currency IDR to ‘CCC-‘

American credit rating agency Fitch Ratings has downgraded Laos' status as it believes the country is now more vulnerable to default on financial obligations. Fitch...

Laos-China Railway Admits Poor Management

The Director-General of the Laos-China Railway made a statement yesterday admitting the railway system's inefficient management. Mr. Daochinda Sihalath, Director-General of the Laos-China Railway, acknowledged...

Prices Still High in Laos Despite Drop In Foreign Currency Values

Despite a drop in the value of key foreign currencies, food and imported goods prices still remain high. Foreign currency values, particularly the US dollar...