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Vientiane
Sunday, December 22, 2024
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Economy

State Budget Mismanagement Uncovered in Vientiane Capital

Laos is facing issues in managing its state budget, with billions of kip unaccounted for, according to the Vientiane Capital People's Assembly on 19 December. President of Central Region Audit Office No.1, Khammone Bouaphanh revealed that LAK 4.77 billion (about USD 217,000) had not been transferred to the official state...

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...

Phout Simmalavong Receives Japan’s Order of the Rising Sun in Official Ceremony

On 18 December, Phout Simmalavong, Minister of Education and Sports and President of the...

Creative Economy Revolution: How ASEAN’s Youth are Leading the Charge

On 2 to 5 December, the Young Southeast Asian Leaders Initiative (YSEALI) Summit 2024...

Bank of Laos Vows to Resolve Foreign Exchange Problems

The Bank of the Lao PDR held a press conference today to announce solutions it has proposed for the ongoing foreign currency problem faced...

Public Left to Speculate as Fuel Shortages Continue in Laos

Despite continued fuel shortages that have been described as a crisis for Laos, little guidance has been provided to the public as gaps in...

Myanmar Central Bank Bans Payments in Foreign Currency

The Central Bank of Myanmar (CBM) on Wednesday banned foreign currency for local payments to stabilize the foreign exchange rate in the country. The bank...

Laos-China Railway to Link with Thanaleng Dry Port 

Authorities have begun preparations to link the Laos-China Railway to the Thanaleng Dry Port to better facilitate freight transportation. While goods are currently transported by...

US President Biden Forms Economic Bloc for Indo-Pacific

US President Joe Biden has formed an economic framework with 12 Indo-Pacific nations officially named the Indo-Pacific Economic Framework. Five years after his predecessor pulled...

New Cryptocurrency Mining Operation Opens in Laos 

Laos has officially launched a cryptocurrency mining operation in Bachiang Chaleunsouk District, Champasack Province. A ceremony to launch the project was held by Lao...