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Laos to study marijuana for medical uses

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Laotian Times
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Laos to study marijuana for medical uses

Laos has formed a task force committee to conduct a study on the potential of marijuana for medicinal use.

The committee, led by the Minister of Health Dr Bounkong Syhavong, is to carry out a study on the use of marijuana for medicinal purposes as well as its economic, social, and political impact while ensuring compliance with international principles, the Vientiane Times reported.

The Lao government will take further steps based on the findings of the study.

The government’s move came after the health ministry submitted a proposal to build a hospital to treat cancer with traditional medicines extracted from marijuana and other natural herbs.

The government first agreed in March to organize a seminar to discuss and study medicinal marijuana.

Since the cultivation, trade and use of marijuana are currently prohibited in Laos, current legislation has to be amended if Laos were to legalize medicinal marijuana, Vientiane Times noted.

“Despite being illegal, many Lao people are believed to use cannabis to relieve pain and fatigue,” the paper added.

Prohibition Partners, a nongovernmental organization with a mission to open up the international cannabis industry, believes cannabis producers and large pharmaceutical companies from the West see enormous business potential in Asia, which is considered the “untapped” market.

The organization estimates 85.5 million of Asia’s roughly 4.5 billion population in 2019 are cannabis users, projecting the Asian market will be worth USD 8.5 billion in 2024, with medical use accounting for USD 5.8 billion of that.

This is mainly because allowing medical cannabis is seen as a step toward approving recreational use as seen in Canada’s case, which legalized cannabis in late 2018 after years of allowing medical use.

South Korea, for example, legalized cannabis in November last year although it still remains a subject for strict control.

In the same month, Japan approved clinical trials for the cannabis compound Epidiolex, a CBD oral solution used in treating epileptic patients.

The move was followed by Thailand that approved marijuana for medical use and research in December last year.

Meanwhile, Malaysian Health Minister Dzulkefly Ahmad said in June that drugs had destroyed many lives, but wrongheaded governmental policies had destroyed many more.

He noted that he thought it was obvious that after 40 years of war on drugs, it had not worked and there should be the decriminalization of drugs, adding that such a move would be a “game-changer”.

Laos joins UNDP Accelerator Lab Network to Tackle Development Challenges

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Laotian Times
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Laos joins UNDP Accelerator Lab Network to Tackle Development Challenges

Laos has become one of the latest countries to have Accelerator Lab launched by the United Nations Development Programme (UNDP).

The lab is designed for participating countries to find “radically new approaches” that fit the complexity of current development challenges.

It aims to transform UNDP’s collective approach by introducing new services, backed by evidence and practice, and by accelerating the testing and dissemination of solutions within and across countries.

The lab also analyzes challenges within local contexts to identify connections and patterns in search of new avenues of work to act effectively in addressing wicked development challenges. UNDP currently runs 60 labs across 78 countries.

In Laos, the lab will map local grassroots solutions, test them and, if found viable, scale them up to quickly answer important challenges, according to a statement by UNDP Los. In particular, the global plastic crisis and youth employment are among focuses.

“With the Accelerator lab, we want to quickly identify burning issues that affect people and economic development, explore and map the solutions that already exist, experiment what could work and share widely in Lao PDR and with the rest of the world,” said Ricarda Rieger, UNDP Resident Representative.

Thailand Arrests Lao Money Launderer linked to Drug Ring

By
Laotian Times
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Thailand Arrests Lao Money Launderer linked to Drug Ring

Thailand has arrested an alleged money-launderer in Mukdahan Province, bordering Savannakhet. The arrest was the result of an ongoing investigation into the money trail generated by a drug ring based in Laos, which smuggles drugs into Thailand’s northeastern provinces.

41-year Watchaphum Sudlar was charged with money laundering, with the Thai police claiming he laundered more than THB 200 million (USD 6.5 million) over a four-month period, according to the Lao Post.

The laundered money had been transferred to the bank account held by a man only identified as Mr. A Money, and the cash was later sent to other accounts.

Thai investigators tracked down the money trail, which led to the arrest of Mr. Watchaphum, according to an article in the Bangkok Post.

Police found THB 1.5 million in cash and LAK 55 million (USD 6,240) in his possession, along with four bank account books and five ATM cards. Other items seized included a pickup truck, five mobile phones, a gold necklace, a 1.8-carat diamond ring and other items.

Mr. Watchaphum denied all of the charges, however. He told police he ran a currency exchange business in Outhoumphone, in Savannakhet Province in Laos, and he would often withdraw THB 500,000 to 5 million at a time upon customers’ requests.

He insisted he had no knowledge about the source of the money that his clients acquired, adding his only took fees from them.

Mr. Watchaphum is well known in certain Lao circles as the husband of a Savannakhet-based net idol named “Jae Nang,” famous for her rants and critiques released on  Facebook.

(Photo: Bangkok Post)

VietinBank Opens Laos Headquarters in Vientiane

By
Laotian Times
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VietinBank Opens Laos Headquarters in Vientiane

Vietnam Joint Stock Commercial Bank for Industry and Trade (VietinBank) has inaugurated the headquarters in the Lao capital Vientiane, a move that comes amid increasing cooperation between Laos and Vietnam in the banking and finance sectors.

VietinBank opened its first branch in Laos in 2012, which was officially upgraded in 2015 to VietinBank Laos to become a wing of VietinBank. Then the bank opened a branch in Champasack Province in September 2016.

Speaking at the inauguration ceremony on September 17, Lao Deputy Prime Minister and Finance Minister Somdy Duangdy said the new headquarters will contribute to raising the brand name of the bank, and giving a facelift to Vientiane and Laos in general, as quoted by Nahn Dan newspaper.

VietinBank’s move comes with the latest cooperation between Laos and Vietnam in the finance and banking areas.

The Bank of the Lao PDR and the State Bank of Vietnam held a conference on September 17 to share experience in macro-economy management, particularly in the finance-banking area.

They exchanged views on macro-economic and currency policy as well as the method of management over commercial banks run by the State and related matters while having agreed to continue foster affiliation in professional activities and information technology application.

In particular, the two sides vowed to encourage and create favorable conditions for commercial banks of each other to seek partnership and invest in each other’s country to promote the banking system in both countries.

They also discussed “difficulties” and “obstacles” that six Vietnamese commercial banks in Laos, including VietinBank, are facing and how to tackle them, Vietnam Plus reported without providing further details.

Chinese-Lao Collaborative Movie “Champa Blossom” Premieres

By
Laotian Times
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Chinese-Lao Collaborative Movie “Champa Blossom” Premieres

A Chinese and Lao collaborative production, Champa Blossom, has officially premiered at Vientiane’s Major-Platinum Cineplex.

The movie was jointly produced by Laos and China, and begins screening nationwide today.

A ceremony was held for the premiere at the cineplex on Wednesday, attended by the cast, crew, producers, and relevant government officials from both countries.

“It is a please to celebrate the friendship between Laos and China, especially during Visit Laos-China Year 2019,” said Mr. Vithoun Soundara, Director General of the Cinema Department, Lao Ministry of Information, Culture, and Tourism.

The story of Champa Blossom demonstrates the friendly and cooperative relationship between Laos and China, and delves into the significance of the friendship and unity between the two nations while presenting the beautiful natural scenery of Laos to the audience.

Shooting commenced in 2016, with a cast of Lao and Chinese actors, telling the story of love between Lao and Chinese nationals, and demonstrating the differing but equally beautiful cultures of each.

The star of the show is Lao doctor-turned-actress Chandaly Ningnang Sitpraxay.

In the 90-minute film, five Chinese youths who travel among ASEAN countries, one of which is Laos.

During the visit, they meet a young Lao girl who is half-Lao and half-Chinese, and who works part-time in a restaurant. Together they join to sing the song Thian Mi Mi.

Later, two of them meet again in Luang Prabang and young love blossoms between them.

The movie is in celebration of the 55th anniversary of bilateral relations between Laos and China.

Morning Market Mall Complex Slated for Redevelopment

By
Laotian Times
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Morning Market Mall Complex Slated for Redevelopment
The Morning Market Mall

A press conference was held last Friday at Vientiane’s Talat Sao (Morning Market) Mall to inform the public of the future of the market and mall complex, which has been uncertain for some years.

The press conference was held by Mr. Atsaphangthong Siphandone, Vice Mayor of Vientiane Capital, Mr. Xaykham Ounmixay, Vice President of the State Inspection and Anti-Corruption Authority, Mr. Khammone Bouaphane, Deputy Head of the Vientiane Capital Department of
Finance, alongside heads of urban planning and public works departments.

Shopkeepers and retailers currently operating inside the mall complex were also present at the press release.

According to a recent Lao Post story, Mr. Khammone said that in line with a notice by the Prime Minister’s Office on dispute resolution in relation to the concession of the morning market, the Vientiane Capital administrative authorities are making every effort to find a resolution to the ongoing dispute.

Whilst details of the nature of the dispute were not revealed, resolution of the dispute will involve the redevelopment of the morning market site as part of a wider plan drafted by the Vientiane Capital Department of Public Works and Transport, and in line with current market conditions.

The Morning Market complex is currently under the custodianship of the government, with the original market and first Morning Market Mall being managed by a special government department. The Morning Market Mall II complex is under the management of Houasinh Phattana Ltd, who won the right to management by court order.

Signage for a non-existent Big C Super Center remains at the mall
Signage for a non-existent Big C Super Center remains at the mall

Because the morning market complex is situated in a prime location in central Vientiane and is a center for many types of trading, there has been interest in redevelopment by various developers.

The government is calling upon any interested party to submit a proposal for redevelopment and management of the Talat Sao complex under the guidance and in line with certain conditions. One such condition is that whoever takes over the project will be responsible for the construction of a pedestrian bridge linking the three Talat Sao buildings with the adjacent bus station.

The new project owner will also be responsible for the repayment of the debts left over from the previous project owner.

Paksan Customs Fails to Meet Revenue Target in First 8 Months

By
Laotian Times
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Paksan Customs Fails to Meet Revenue Target in First 8 Months

Paksan International Customs in Bolikhamxay Province has failed to meet its revenue target between January and August amid a drop in the volume of imports.

The Paksan checkpoint, which connects Thailand, Vietnam and Laos by road, serves as an economic and services gateway, facilitating trade, investment and tourism and contributing to the country’s revenue collection.

The customs checkpoint was only able to collect revenue amounting to LAK 132 trillion (USD 14.9 billion) in the first eight months of this year, meeting only 43.81 percent of its planned LAK 302 trillion. The customs met 57.68 percent of its target last year during the same period.

This is mainly because of the decrease in imports of fuel, vehicles, spare parts, gas, electric appliances, and other goods this year, according to Mr. Xayxana Vongsomphou, Deputy Chief of Paksan International Customs.

In particular, Mr. Xayxana cited the drop in imports of fuel for Nam Ngiep 1 Hydropower Construction project and Phubia Mining projects as the main reason for the decrease in revenue this year.

The customs checkpoint collected LAK 106 trillion in tax in the first eight months of last year through the imports of 51 million liters of fuel, while it only collected LAK 90 trillion of tax during the same period of this year through 43 million liters of imported fuels.

In addition, Lao Thani Company imported 650 vehicles, paying about LAK 97 trillion in tax in the first eight months last year, but the company only imported 55 vehicles during the same period of this year, amounting to taxes of only LAK 11.7 trillion.

Meanwhile, Mr. Vongvilay Lordpany, the Deputy Chief of the Customs, said there are other obstacles that the customs point needs to overcome in order to collect higher revenue.

“The location [of the checkpoint] bears risks of accidents as it is narrow… the transportation of goods through the checkpoint still takes a long time. The warehouse area is still under renovation. The services have not yet reached international standards, such as CIQ [Customs, Immigration and Quarantine],” said Mr Vongvilay.

Going forward, the customs has set up a goal to collect LAK 170 trillion of revenue in the remaining four months this year.

To that end, it plans to work with the Provincial Tax Surveillance Division to protect and monitor imported products for export as well as various investment projects.

The Paksan customs checkpoint will also monitor the behavior of employees to ensure ethnical behavior while cracking down on smuggling activities both in and out of the checkpoint.

Xieng Khouang Airport Gets Russian-funded Upgrade

By
Laotian Times
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Xieng Khouang Airport

Xieng Khouang Province has renovated its airport in order to provide a smoother service for tourists who visit the Plain of Jars UNESCO World Heritage site.

Funded by Russia, renovations include the installation of an electronic scanner and lights on the runway, improving the radar hall and the passenger building.

Apart from that, local authorities are currently improving roads and traffic lights within the downtown of Paek district, which is slated for completion by the end of the year.

Such a move came after the Plain of Jars in the province was added to the list of UNESCO World Heritage Sites in July.

The Plain of Jars, located on a plateau in northern Laos, is named for the more than 2,100 tubular-shaped megalithic stone jars that are believed to have been used for funerary practices in the Iron Age.

The authorities are keen to promote the site and attract more domestic and foreign tourists.

To that end, the province will organize three events: The National Games, a celebration for the Plain of Jars as a UNESCO World Heritage Site, and the 65th anniversary of the establishment of Lao People’s Party on March 22, 2020.

According to the Tourism Development Department under the Ministry of Information, Culture, and Tourism, around 144,000 visitors visited Xieng Khouang Province last year.

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