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BCEL-KT: Trade Summary (Oct 28, 2016)

LSX traded positively on Friday, rising 8.18 points to close at 995.21 points, with 6,400 shares traded (about 21.4 million kip in terms of trading value). EDL-Gen edged up 50 kip at 4,900 kip with a handful of shares traded, while BCEL stayed still at 5,200 kip with the exchange of 1,500 shares. PTL saw 4,000 shares changed hands at the stable price of 2,300 kip. In the meantime, LWPC and SVN closed unchanged at 6,100 kip and 3,000 kip respectively, with no trading.

Ford Motor Company, Hospitality Training Institute Assist Primary School

Ford Motor Company and Lao Ford City are collaborating with the Lao National Institute of Tourism and Hospitality (Lanith) to hold a community development activity at Thintom Primary School under the title Ford Global Caring Month.

The activity will be held on November 5 in Hadxaifong district, Vientiane, led by Lao Ford City Sales and Operations Manager, Mr. Chakkaphonh Malabandith, and Director of Lanith, Ms Sayavath Chasane.

Mr Chakkaphonh Malabandith said Lao Ford City received US$4,000 from their parent company towards the outreach programme. The company has initiated a corporate social responsibility campaign to assist with social and environmental issues.

This is not the first time Ford has reached out to the community at large. In 2013, the company built two classrooms at a primary school in Sor village, Sangthong district, Vientiane.

The following year, the company provided a financial grant to procure training equipment for the Rescue Foundation, worth US$20,000 in total. In 2015, Lao Ford City awarded scholarships worth another US$20,000 to students at the Lao National Institute of Tourism and Hospitality.

In their upcoming community development initiative, a donation of educational materials and sports equipment will take place in support of the students at Thintom Primary School. Staff from Lao Ford City and Lanith will also paint classrooms and interact with the children.

Source: Vientiane Times

NUOL Staff, Students Missing Out on Japanese Scholarships

Teachers and students at the National University of Laos (NUOL) have a low rate of application to scholarship programmes offered by the Embassy of Japan due to a lack of knowledge concerning the application process.

Overall, the number of teacher and student participants has declined over the years.

According to the NUOL, on average 20 recipients a year travel to Japan to pursue the various programmes on offer, but recently that number has sometimes fallen to as low as nine.

Speaking at the announcement ceremony for the Study in Japan Fair, NUOL Vice President Associate Prof. Dr Houngphet Chanthavong told attendees he hopes that number will increase by next year.

He elaborated on the long history of cooperation in the field of education between Japanese and Lao institutions, which include exchange programmes, research collaborations, visiting lecturers and other initiatives.

The fair is designed to provide students and educators from Laos with correct, up-to-date information about Japanese higher education and research institutions in order to help candidates select an appropriate school and successfully lodge their applications.

An official from the Embassy of Japan said this year many different subjects are open to Lao applicants, including business, science and Japanese language.

He emphasised the importance of language programmes in developing human resources as a bridge for future cooperation between the two countries but also added that no matter what subject Lao participants choose to pursue, the transfer of specialised knowledge will be indispensable in helping Laos’ overall progress.

By attending the fair, students will have assistance in gaining access to these programmes and advice on following the correct protocol to make a successful application.

Source: Vientiane Times

Expert Clarifies Differences in Poverty Statistics

The number of people living in poverty nationwide, which has been shown to be increasing, doesn’t mean their living conditions are getting worse but instead reflects changes in criteria for measuring poverty.

An expert from the Central Committee on Rural Development and Poverty Eradication (CRDPE) made the clarification at a lecture held last week in Vientiane to mark International Day and National Week for Poverty Eradication, which ran from October 17 to 24.

The confusion occurred concerning the figures provided by a report from the Lao Statistics Bureau (LSB) titled “Lao PDR 2015 Census- Based Poverty Map: Province and District Results”.

The report, which was issued during a meeting in July, showed more than 65,000 poor individuals living in Vientiane, which accounted for 8.5 percent of the 772,000 population, while the report disseminated by the capital administration at a session of the Vientiane People’s Council held in May showed only 13 poor families in the capital.

The LSB report map also showed that around 39,000 people in Phongsaly, 105,000 in Huaphan, 95,000 in Luang Prabang, 104,000 in Khammuan, 302,000 in Savannakhet, 183,000 in Saravan, and 164,000 people in Champassak provinces were living in poverty.

A figure unveiled at the lecture showed that about 76,000 families were living  under the poverty line in 2015 accounting for 6.6 percent of all families in the country. Around 456,000 individuals are poor if each family has six members on average.

The number is still lower than the number of poor people in Khammuan and Savannakhet provinces combined, according to the map.

The LSB report map was put together based on the Lao Expenditure and Consumption Survey (LECS), which was conducted in 2012/13 (LECS- 5) and the 2015 Population and Housing Census. LECS-5 covered a sample of more than 8,000 households comprising about 43,000 individuals.

The authors of the Lao PDR 2015 Census-Based Poverty Map said in the report that LECS-5 was the most appropriate in terms of timing and also collected information similar to the Census questionnaire, which was relatively detailed.

However, they said the questionnaire contained no information on either household incomes or household expenditure, but covered, at individual level, demography, education, economic activities and durable goods ownership. At the household level, dwelling characteristics were covered.

Regarding the difference between the number of poor people indicated by the LSB report map, which is much higher than that stated in the lecture, Head of the CRDPE’s Office of Planning and International Cooperation, Mr. Chit Chanvisay, asked those present not to panic.

“This is not about people who have returned to poverty, but this means the standards for measuring poverty have been improved,” he said.

In the past, if a man had a bicycle he was recognised as poor, while if that man had a motorbike today he would complain he was poor, Mr. Chit said.

“Our country accepting new, higher-standard targets means the country has been improved,” he added.

 

Source: Vientiane Times

Laos Gears Up for GI Products

Through the imminent signing of new geographical indication (GI) regulations Laos should be able to add products to this list in the near future.

Interest in GI has grown worldwide which can promote traditional production methods and certification of products associated with a region. In the last decade, over 150 GIs have been registered in Southeast Asia alone.

The information was revealed by the United Nations Food and Agriculture Organisation (FAO) Representative to Laos Dr Stephen Rudgard during the Regional Seminar on the Promotion of Geographical Indications, held on Wednesday in Vientiane.

In his opening speech, Dr Rudgard congratulated the Ministry of Science and Technology on the signing of a Memorandum of Understanding between the Lao and Cambodian governments for cooperation on Trademarks and GI as well as for hosting its first “GI week”.

“The organisation of this seminar, as well as the GI week in Laos, are both a great opportunity for participants to share common experiences and success stories on GI promotion – both at public and private levels – and to further disseminate GI awareness,” Dr Rudgard said.

GI was a name or mark used on certain products corresponding to a specific geographical location or origin, he explained. “A GI mark on a product certifies that it has certain authentic qualities, is produced using traditional methods, or has a reputation because of its geographical origin.”

Some examples of GI products many people may already know are: Champagne from France, Lamphun Brocade silk from Thailand, Kampot Pepper from Cambodia, Darjeeling Tea from India, Van Yen Cinnamon from Vietnam and Kobe Beef from Japan.

In order to receive a GI certification on a product, Dr Rudgard explained that farmers have to meet the specification standards on origin, production and control mechanisms of the product.

The GI legal protection aims to protect and empower smallholder producers as well as raise awareness among consumers on the quality and authenticity of products, particularly those that may not be as popularly known as others.

The GI initiative encourages producers and manufacturers to increase their production to meet the demands of more quality- conscious consumers, but all the while keeping the essence and traditional ways of production.

In addition, GI also promotes the socio-economic development of the region from which these products come.

“These GIs are important for local producers because GI helps small-scale producers sustain their unique identity as well as switch from quantitative to qualitative strategies in promoting their products in markets,” Dr Rudgard added .

Like in many developing countries, around 80 percent of the rural population in Laos is dependent on agriculture for their livelihoods. Therefore, promoting small-scale farmers through GI contributes to reducing poverty and hunger, according to FAO.

 

Source: Vientiane Times

Agricultural Research in Remote Areas to Be Extended

The National Agriculture and Forestry Research Institute and National University of Laos will continue a collaborative research project for the improvement of the livelihoods of small-scale farmers in semi-mountainous areas.

The two parties will continue to work at the Japan International Research Centre for Agricultural Sciences (JIRCAS) for the development of the project after seeing the progress made under the project from 2011-2016.

The message was relayed during an inception workshop held yesterday in Vientiane led by the Deputy Minister of Agriculture and Forestry Mr. Thongphat Vongmany and the Ambassador of Japan to Laos Dr Takeshi Hikihara.

The three parties are also planning to carry out the following four components of the projects in Laos, particularly in the central and northern areas, according to a statement from the institute.

Those components are multiple use and value addition of the regional resources for sustainable improvement of productivity in semi-mountainous villages in Indochina; formation of food value chain through the value addition of food resources for supporting sustainable rural development; development of forestry technologies in indigenous tree plantations on slopes in Laos; and technical development for the captive breeding of indigenous freshwater shrimp.

The above projects include more research fields to try to improve the food value chain, forestry and indigenous shrimp culture techniques in addition to the livelihood improvement of the small scale farmers in semi-mountainous areas.

Yesterday’s meeting was co-chaired by the university’s Acting President Prof. Dr Somsy Gnorphanxay , JIRCAS President Mr. Masa Iwanaga, and the institute’s Director General Dr Bounthong Bouahom.

Source: Vientiane Times

500m Yuan Payout for Property Owners Alongside Railway May Be too Small

The compensation to be paid to the owners of parcels of land and buildings that will be used or demolished to make way for the Laos-China railway may not be enough.

Ministers addressed this issue at the National Assembly’s ongoing debate session on Wednesday, answering questions put by Assembly members concerning the compensation to be paid to property owners living in areas where the railway will be built.

Minister of Public Works and Transport Dr Bounchan Sinthavong said that 500 million yuan (about 599 billion kip) had been allocated for compensation payments, but he thought this amount may be insufficient.

“To ensure that the many people who will be affected by the railway will receive compensation, we have negotiated payments with the Laos-China Joint Venture Company,” he said.

One of the questions concerned the planned 50-metre section of land that is to be fenced off along either side of the railway, which in some places runs close to Road No. 13 North and other roads. The questioner wondered if it would be possible to reduce this width.

Dr Bounchan said the matter had been discussed with the Laos-China Joint Venture Company and the consulting company on Tuesday, when officials said this might be possible, but stressed that safety must be assured alongside the track.

It was also stated that people living in the provinces and in Vientiane would be able to grow rice alongside the railway.

Assembly members put 15 questions to the Minister of Public Works and Transport, but he was only able to answer seven in the time available.

Minister of Planning and Investment Dr Souphanh Keomixay said the railway project was 70 percent owned by China and 30 percent by Laos.

Construction is scheduled to begin in December after the signing of a concession agreement in November. The US$6 billion railway, to be built over a distance of 427 km, will be completed by 2021.

The railway will use a 1.435-metre standard-gauge track. There will be 33 stations, 21 of which will be operational initially.

There will be 72 tunnels with a total length of 183.9 km, representing 43 percent of the railway’s total length. The line will also have 170 bridges totalling 69.2 km in length, accounting for 15.8 percent of the total.

Passenger trains will travel at 160 km per hour, while the speed of rail freight will be 120 km per hour.

The railway in Laos will link with the track in Thailand to form part of the regional rail link known as the Kunming-Singapore railway, covering a total distance of about 3,000km.

Source: Vientiane Times

Govt Talks Tough in a Bid to Save Money

Limiting expenses on overseas travel, entertaining foreign guests, and civil servant numbers will be among government measures to save state resources and relieve financial tensions.

Deputy Prime Minister and Minister of Finance Mr. Somdy Duangdy yesterday outlined the plan at the ongoing ordinary session of the National Assembly (NA) in response to a query by the NA Secretariat.

“We will reconsider what amount of money will be allocated appropriately for overseas trips by officials,” Mr. Somdy said, giving this as an example of a savings measure.

A suggestion was raised concerning the appointment of the head of a ministry or province to lead a committee implementing the savings policy, with results to be reported regularly to higher authorities.

During the debate on the National Socio-Economic Development Plan, NA members questioned the large number of civil servants, pointing to the Ministry of Home Affairs as an example, which they said was overburdened with salary payments.

Mr. Somdy said the government would scrutinise the number of civil servants and jobs at that and other ministries, aiming to streamline government bodies and save resources.

The Deputy PM made mention of the Ministry of Finance’s announcement No. 2878 dated September 1, 2016, on savings measures, which instructed budgetary units not to spend their remaining allocated money on expenses during fiscal year 2015-16.

Mr. Somdy said around 1 trillion kip had been saved following the announcement as about 96 percent of the allocated state budget was spent in the year.

The government also plans to strengthen legislation such as the decree relating to procurement, construction, repairs and services, which uses public money.

“We will improve the determination on office construction and repairs to be more concrete, and use Prime Ministerial Decree No. 03 on procurement, bidding and tenders as a tough tool in managing expenses by government agencies,” the Deputy PM said.

Chronic violation of financial discipline by budgetary units and government officials was a major concern raised by NA members.

Mr. Somdy promised that his ministry would evaluate the use of budgets by sectors at the central and local levels.

Tough and decisive measures will be imposed on budgetary units found to be in violation, while promotion will be given to those who use money transparently and effectively for planned purposes. Allocations will be increased for some units next fiscal year in accordance with government agreements.

The Ministry of Finance will strengthen post-expense monitoring and inspection, which will be done quarterly and reported to higher authorities with appropriate penalties for violations.

Improvements of inspection authorities within ministries and agencies and the enhancement of measures against offenders have been proposed by the government with a special focus on revenue collection.

Mr. Somdy said his ministry is drafting legislation on the management of civil servants and officials within the ministry, especially staff responsible for revenue collection and expenditure.

“This second piece of legislation will be an additional specific tool along with the Law on Civil Servants, which will toughen up the law,” he said.

“Offenders within the finance sector will receive tougher punishment than offenders in other ministries and agencies,” Mr. Somdy added.

Source: Vientiane Times