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JCV Increases Healthcare Aid in Laos

By
Laotian Times
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familyplanning
familyplanning

Thanks to Japanese Committee for Vaccination (JCV), mothers-to-be and children under five in rural areas of Champassak province have seen improvement in their health due to having proper access to immunizations.

JCV has granted more than US$1.7 million in assistance to Laos through UNICEF since 2007, aiding hundreds of thousands of children and pregnant women.

Dr Somkiet Volalath, of the Champassak Provincial Health Department, has stated that the program has assisted those in the focus areas and is expected to decrease rates of maternal and child mortality. This would help the country eliminate preventable infections and diseases, specifically measles, whooping cough, and diphtheria.

Dr Somkiet, who is also the Vice President of the Provincial Commission of Mother and Child, explained that new types of vaccines have been developed to prevent other infections such as pneumonia and diarrhea as well.

He also stated that, “All children have the right to be protected. If children have not been vaccinated they are at a higher risk of illness, permanent disability, poor nutrition and even death.”

Child mortality rates in Champassak province, (neonatal, infant and under-five) are significantly higher than the national average.

Although immunization coverage for most essential vaccines (BCG1, DPT3, Polio, and Measles) is on par with the national average, essential maternal and child health services such as; antenatal care, postnatal care, delivery by trained personnel, and ORS/home fluids for children with diarrhea, reach less than 40 percent of pregnant women and children in Champassak province.

BCG1 coverage has been maintained above 70 percent during the 2014-2016 periods. However, there is a vast inequality between districts: where Phonthong district shows BCG1 coverage of 93 percent and Pakxong district report only 61 percent coverage.

Over 80 percent of Champassak’s population relies on integrated health outreach for accessing essential maternal, child health and nutrition services and information. This underlines the importance of ensuring adequate frequency and quality of integrated outreach services.

Less than 35 percent of villages are provided health services by district and provincial hospitals, whereas almost 70 percent of villages receive services by health centers.

Visit Laos Year 2018 Kicks off end of October

By
Laotian Times
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Coinciding with the That Luang Festival celebrations, government officials have planned several activities to promote the launch of  “Visit Laos Year 2018” on October 28.

In an effort to boost tourism and attract foreign travelers to the country, Mr Soun Manivong, Head of Tourism Promotion Department, Ministry of Information, Culture and Tourism has stated that the Visit Laos Year 2018 campaign is scheduled to kickoff at the end of this month.

“Since tourism is a key world economic driver, recording rapid growth, countries have focused attention to the tourism sector as a main foreign exchange earner,” said Mr Soun. He added, “In the Lao PDR, the government has promoted and developed the tourism industry since 1989, contributing a constant growth in the sector.”

Laos has seen a 35 percent increase of foreign visitors annually between 1990 and 2000. Since then, this number has continued to increase moderately by 15 percent every year.

However, in 2016 foreign visitor arrivals witnessed a 10 percent year-on-year decrease, with 9.8 percent less foreign visits as compared to the same period last year.

Several national activities promoting Visit Laos Year 2018 have been scheduled. Meanwhile at provincial level, festivals, off road car caravans, art and cultural events have been announced to take place over the next twelve months by provincial governments.

Laos Prints Largest and Longest Sovereign Bond Issue

By
Laotian Times
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Laos has successfully completed its largest and lengthiest bond issue, with a 14 billion baht ($419 million) six-tranche offering in the Thai debt capital markets.

Not only did the sovereign offering surpass the 12 billion baht issue Laos completed in 2015, it also pushed out its curve from 12 to 15 years, and printed the largest tranche at the longest tenor, demonstrating to Thai investors’ positive long-term view on the credit.

The 2.7913 billion baht three-year, 1.0198 billion baht five-year, 340.9 million baht seven-year, 2.967 billion baht 10-year, 1.5055 billion baht 12-year and 5.3755 billion baht 15-year tranches priced at par to yield 3.65 percent, 4.00 percent, 4.60 percent, 5.20 percent, 5.40 percent and 6.05 percent, respectively.

A portion of the proceeds will be used to relinquish a 1.794 billion baht bond maturity on October 10, as well as other debts, while half will be invested in infrastructure projects. Laos’ debut 1.5 billion baht three-year bond matured in May 2016, and a further 434 million baht bond was redeemed in December.

Financial institutions acquired 57.7 percent of the issue, high net-worth investors took 27.8 percent, asset managers booked 13.9 percent, and others bought 0.6 percent.

The bonds are rated BBB+ by Tris Ratings, so the deal also marked the first time that an issuer with that rating had sold 15-year bonds in the Thai market.

The Ministry of Finance issued the bonds on behalf of the government, and received approval in mid-September to sell baht bonds, converting part of the proceeds into US dollars in the onshore foreign currency market.

The total issue size was capped at 14 billion baht, which Thailand’s Ministry of Finance had approved.

Bangkok Bank, Siam Commercial Bank and Thanachart Bank were joint lead arrangers, while Twin Pine Group was an advisor.

Source: Reuters

Legal Action Against SP Financing Company Underway

By
Laotian Times
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Row of cars
Row of cars

Authorities have advised those who have previously purchased  vehicles from the  SP Sipathoumphone company to officially  declare their losses and file a case against the enterprise.

The Office of the Public Security Department in Vientiane province has issued an announcement advising former customers of the company to declare their losses and press charges by the end of October so that police can proceed with the next step.

The SP Sipathoumphone company has been operating as a financing agency since 2015. The company’s business model receives cars from other companies and sells them, however those companies have failed to see any payments.

Head of Office at the Public Security Department, Lieutenant Colonel Daenphet Phomahalath, said the first branch of SP Sipathoumphone is located in Phonsineua village, Phonhong district, Vientiane province, and the second is located in Thongnami village, Pakkading district, Borikhamxay province.

Authorities currently have the SP company owner, Mr Bounmy (Somphone Sipathoumphone) and his associate, Mr Thonglai in custody and are both now awaiting trial.

Over 60 cases have been reported to police, with each complaint claiming money was lost through transactions, totaling almost US$4 million, over 800,000 Thai baht, and 92,700 million kip.

The police has urged  people who have lost money to promptly bring evidence of their deficit to the Office of the Public Security Department in Vientiane province, specifically to the Economic Affairs division.   

Although unrelated, this scandal comes shortly after PS-Agriculture and Industry Development Import and Export Co., Ltd., a company that was discovered to have been illegally sourcing money from members of the public along the lines of a financial institution.

Miss Grand Laos Showcases That Luang as National Costume

By
Laotian Times
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The time has come for Laos to send its first crowned Miss Grand Laos to Vietnam to compete for the International title.

In a year of firsts, Laos has not only crowned its first Miss Universe Laos, but in July crowned the first Miss Grand Laos, and is sending her to compete against 80 other countries for the Miss Grand International title.

Ms Chinnaly Norasing, an 18-year old student who graduated from Kiettisack International School this year, is the first contestant from Laos to win this title and will be representing her home country in the world competition, Miss Grand International 2017 hosted in Vietnam on October, 5th.

Ms Norasing has won 1st place in the 7th Lao National Asean Quiz 2016, an English competition aimed to evoke the spirit of healthy competition amongst the ten ASEAN countries through geography, history and economic cooperation.

Themed ‘Ending War and Violence’, the pageant will commence on October 5th with the final show scheduled to conclude on October 25th.

Quang Binh has been selected as the location for the national costume competition, where Miss Norasing will officially debut her national costume for Miss Grand International 2017.

Her national costume was inspired by the famous Pha That Luang, or the Great Golden Stupa, in Vientiane Capital. The design of the costume is a uniquely stunning feature, embodying the spirit of the Lao people and their virtues. The accents and embellishments featured on this costume present Laos’ cultures, traditions and identity.

Please follow the Miss Grand International’s for broadcasting information.

Photo Courtesy: Miss Grand International FB Page

Oct 4-6 Official Boat Racing Festival Dates

By
Laotian Times
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Following an announcement made by the Governor of Chanthabouly district, Mrs. Bouarone Vongdarasan, the annual Boat Racing Festival will officially take place Oct 4-6 at Chao Anouvong Park.

Traditionally, the festival is held every year at Tha Vat Chanh, Chanthaboury district, where boats representing public organizations, private sector, business community and communities compete for victories and prizes.

With the festival drawing massive crowds of guests, participants and vendors from Vientiane Capital and provinces all across the country, the aim of the event is to promote and preserve the culture of the Lao people.

Many vendors travel long distances to sell popular traditional street foods such as khao lam, ping kai and tam mak houng. 

Almsgiving will be made by buddhist worshippers at 7:00am on October, 5 followed by a traditional candle lit procession held at temples nationwide after sunset. In the evening, people release small banana trunk boats lit with candles down the river for good luck, also referred to as lai heua fai.

Oct. 6 the boat racing festivities will conclude, followed by the winners being announced and trophies awarded in the late afternoon.

Roadsides near the boat racing venue and vacant land, along with footpaths, are designated paid parking spaces. Standard parking fees vary, typically starting at 3,000 kip per bicycle, 5,000 kip per motorcycle and 15,000 kip for cars.

Local authorities have stressed that maintaining peace and order during the celebration of the festival is a high priority.

Tax Collectors to Audit 200 Businesses to Boost Revenue

By
Laotian Times
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In an attempt to collect additional taxes before the end of the year, the Deputy Minister of Finance has announced that finance authorities are planning to audit more than 200 major companies that have been under the management mandate of central-level state bodies and Vientiane authorities.

The deputy minister, Dr Atsaphangthong Siphandone, informed members of the National Assembly (NA) at a meeting in Vientiane, that the inspections are being facilitated by six teams of finance authorities that began auditing enterprises the beginning of September and are still underway.

The objective of these audits is to ensure that companies have paid the correct amount of taxes based on their actual income, and have strictly complied with financial regulations.

The controversy is that many businesses pay taxes based on reports amassed by their own staff, which are then assessed by tax officials. NA members have previously expressed concerns that this practice had lead to loopholes for revenue leaks, as businesses are unlikely to report their true income so they can minimize the tax levied.

The maneuver is among measures initiated by the government in an effort to boost revenue collection over the last six months of this year.

The inspections are also intended to maximize revenue collection, as the government has struggled to collect revenue in line with the target for 2017.

Dr Atsaphangthong  has projected that revenue collection for 2017 was expected to reach 23,489 billion kip, accounting for 98.1 percent of the amount targeted.

During the first six months of 2017, over 10,365 billion kip was collected, accounting for just 43.29 percent of the year’s plan. Measures are being implemented to collect the remaining  13,124 billion kip before the end of the year.

In addition to the inspection of the 200 businesses, Dr Atsaphangthong emphasized that authorities will place great importance on properly collecting taxes and tariffs from major sources or products such as petrol, vehicles, construction materials and electrical equipment, as well as consumer and durable goods.

Attention would also be focused on collecting taxes and fees from small and medium enterprises as well as hydropower and mining projects.

Officials would intensify efforts to collect revenue sourced from leasing fees of state assets as well as concession fees.

China Southern Airlines Offers Vientiane-Guangzhou Flight

By
Laotian Times
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As of September 27, China Southern Airlines is offering Vientiane passengers a direct flight to and from Guangzhou three times a week.

The world’s fourth largest airline will transport passengers on Wednesdays, Fridays and Sundays via A320 airbus. It will depart Guangzhou at 16:30 hours and arrive in Vientiane at 18:10 hours, and leave Vientiane at 19:10 hours and land in Guangzhou at 22:25 hours.

The launch of the new air route establishes a key effort under the One Belt One Road strategy, encouraging  cultural exchanges, as well as trade and investment between the two countries.

Airline passengers traveling between Vientiane and Guangzhou can expect to experience prompt and convenient service coming from this launch, as passengers transiting through Guangzhou no longer have to  re check-in their luggage when traveling to other international destinations such as Europe, America, Japan or Republic of Korea.

Ranking the largest airline in Asia, China Southern Airlines has a fleet consisting of more than 700 airplanes.

Before the launch, Lao Airlines was the only other airline offering a direct flight in between the two cities.

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