Economy

Laos’s Credit Rating Upgraded After Bond Sale, Hong Kong Tax Pact

Laos has received a credit rating upgrade after issuing a USD 500 million international bond and signing a tax agreement with Hong Kong aimed at reducing costs for cross-border investors. On 29 October, S&P Global Ratings upgraded Laos’s long-term credit rating from CCC+ to B-, with a stable outlook, indicating...

Laos Eyes 500MW Renewable Electricity Export to Singapore

Laos is eyeing a major expansion of its clean energy exports following a proposed...

Laos Orders Local Trade Offices to Stop Restricting Business Competition

The Ministry of Industry and Commerce has ordered trade offices nationwide to stop imposing...

Laos Inflation Eases to 7.7 Percent as Electricity Costs Remain High

Laos’ inflation edged down to 7.7 percent in October from 7.8 percent in September,...

Laos Links South Korea Work Visas to Overstay Rates as Program Expands

Laos will suspend access to South Korea’s seasonal work program for 3 years if...

National Assembly Members Ask Government to Reassess Fuel Price Structure

  Members of the National Assembly and People's Provincial Assemblies have asked the government to reassess the structure of fuel pricing. The Second Ordinary Session of...

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,...