Economy

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...

Prime Minister Calls for Tighter Oversight of Boten SEZ Amid Development Challenges

Prime Minister Sonexay Siphandone has called for stronger management of the Boten Special Economic...

Laos-China Railway Trade Surges as Cross-Border Freight Hits New Highs

Trade along the Laos-China Railway continued to grow sharply in the first half of...

Laos Identifies Two New Rare Earth Target Areas Across Four Provinces

Laos has completed field surveys and identified two major potential rare earth target areas...

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...

Laos to Increase Fuel Prices Again Tomorrow

The government of Laos has announced an increase in fuel prices effective tomorrow following a recent fuel shortage. According to a notice issued by the Ministry...

Nearly 500,000 Unemployed in Laos Amid Covid-19 Pandemic

  The Ministry of Labor has reported that nearly 500,000 people remain unemployed across the nation this year, including those already in the country and...

Finance Ministry: State Lottery Creates Jobs, Revenue

The Ministry of Finance has defended its decision to expand the national lottery to three days per week as a means of creating employment...

RCEP, World’s Largest Trade Pact to Come into Effect in January

The RCEP, the world’s largest free-trade bloc, will officially come into effect in January next year. The Regional Comprehensive Economic Partnership (RCEP) was signed last...

Laos to Mine Bitcoin and Repay National Debt

  The government of Laos hopes to earn LAK two trillion in revenue from mining and trading the bitcoin cryptocurrency. Lao Minister of Finance, Bounchom Ubonpaseuth,...

Laos Sees Foreign Currency Outflow of Over USD 303 Million this Year

The Lao government has reported a foreign currency outflow of over USD 303 million in the first nine months of this year. According to a...