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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...

Vientiane Authorities Crack Down on Illegal Currency Exchange Operators 

Authorities in Vientiane Capital are struggling to control unlicensed currency exchange businesses amid a widening gap between official and market exchange rates. Rising inflation and...

Construction Begins on China-funded Educational Facility in Vientiane Capital

Construction of a new facility funded by China at the Laos Institute of Posts and Telecommunications in Vientiane Capital has begun. Lao Minister of Technology...

Laos Forms New Committee to Reform Struggling Power Company

The Government of Laos has set up a special committee to reform Electricite du Laos (EDL) as part of attempts to reign in bloated...

Feasibility Study Completed for Vientiane to Pakse Expressway

A new expressway linking Vientiane Capital with Champasack Province is closer to reality after a feasibility study for the project has been completed. The...

Laos Records Bumper Trade Surplus in 1st Quarter

Laos recorded a trade surplus in the first three months of this year, despite the continued depreciation of the Lao kip amid increased production...

2022 Road Tax Now Payable in Laos

The Ministry of Finance has called upon vehicle owners to make payment of the 2022 road tax, which is now due and payable. According to...