Tag Archives: finance

Laos’ First Real Estate Expo Expecting To Draw 40+ Firms To 2-Day Fiesta

via laorealestate.la yula.la & LNCCI. Laotian Times, Lao Post, Champa Meuang Lao among the media partners.

The first real estate investment expo in Laos is set to open eyes, hearts, dreams, and pocketbooks at Don Chan Palace Hotel on Friday & Saturday, March 1-2 2019.

Open to attendance from the public with free entry, Patrons will not only have a chance to eye off some the nation’s best property deals, but go in the draw to win international flight packages and a host of other prizes.

Laorealestate.la, in partnership with the Lao National Chamber of Commerce and Industry (LNCCI) and Laos’ leading online marketplace, www.yula.la, is excited to announce it will be hosting the event.

The Laorealestate.la Expo 2019 is set to bring together Laos’ top property developers, architects, builders, real estate agencies, plot land vendors, banks offering home loans, insurance companies, law firms, and even international property investments.

The Laotian Times, Lao Post and Champa Meuang Lao magazine were among media partners in attendance at the launch.

More than 40 firms will exhibit in one room, for two days only, and the event is expecting over 3000 local and international attendees. Laos’ best luxury car brands and related businesses will also exhibit at the entrance of the event.

On top of a variety of property offerings, the Laorealestate.la Expo will also offer attendees access to a dedicated free seminar room with over 20 seminars from Laos’ leading real estate agents, property development experts, economists, lawyers, financiers, and Government officials.

Various international guests will present in the seminar room, to take a look at Laos’ real estate market in a regional context.

Seminars are focussed on educating buyers and sellers on the Lao investment climate, regulation, pitfalls, and upsides of the sector, and advice for first both first home and experienced buyers.

A special guest confirmed for the event is Dr. Somchai Charoenvarakiet, a Thai Feng Shui Real Estate consultant of over 20 years.

Dr. Somchai is set to offer his insights on how to maximize the positive energy of their home or office through Feng Shui design techniques.

All seminars will be translated via headsets in Lao, English and Chinese languages.

For the first time in the country’s history, all the big names from the Lao real estate industry will be together under one roof.

This presents a perfect opportunity for local buyers and international investors to survey the country’s best property opportunities.

Property sellers and financiers will also bring special expo-only promotions to guests.

 “The LNCCI is proud to be a partner of the first ever specialised real estate investment expo in Laos,” Vice President of the Lao National Chamber of Commerce and Industry (LNCCI), Mr. Daovone Phachanthavong, told the media gathered at the launch.

“Ultimately, events such these will develop the whole sector and the wider economy, sharing information, best practices, business connections and generating a wider consumer base for exhibitors and sponsors, across both local and international networks.”

“This exciting event will provide the perfect platform to celebrate Laos’ real estate industry and to showcase the opportunities this market has to offer to both end-buyers and investors,” Mr Dominick Williams, Chief Executive Officer of APA Insurance Laos (Phongsavanh Insurance (APA) Co., Ltd), the main sponsor and key partner of the laorealestate.la Expo 19 alongside the LNCCI, Yula.la and laorealestate.la, told the gathering.

“Ultimately this will support the progress of the Laos real estate sector and the economy as a whole. As a leading local provider of property and construction insurance, as well as mortgage protection insurance, APA Insurance is delighted to support Expo as partner and main sponsor, and we very much look forward to welcoming guests to Don Chan on March 1st and 2nd, 2019”.

“The 2019 Expo is a great platform for property related businesses to generate leads and increase sales, it also represents a chance to celebrate the local real estate industry and give businesses an opportunity to strengthen their brand.” Mr. James Whitehead, CEO of Yula.la & laorealestate.la, said.

“For our attendees, we are offering a unique opportunity to view a range of property investment options in one room, over 2 days; ranging from plot land options, houses, villas, condos, construction firms, architectural designers, and property services and advice.

“First home buyers will also benefit from a range of home loan options, and specific legal and insurance advice.

“Those seeking international investment, travel, immigration and education options will also benefit from a range of exhibitors advertising opportunities in destinations such as Australia, USA, Europe, Malaysia, and Thailand – to name a few.

“The dedicated seminar room will offer a perfect and totally free opportunity for potential property buyers to learn about taxes, valuations, land laws, investment considerations, market trends and how to finance a home safely, among many other topics. We will have over 20 local and international speakers in the seminar section, over the two-day event.

“The event is now over 70% sold out for exhibitors and sponsors, thanks to a huge effort from the yula.la sales and marketing team, and we have already registered over 1300 local and international guests to join us next month.”

Digital Classified Group (DCG), the Australian-based parent company of Yula.la & Laorealestate.la, is bringing the real estate show concept to Laos after having successfully ran similar expos in several other markets internationally, including Cambodia and Papau New Guinea.

It is boasting a track record of well over USD $80 million worth of property sales at those various events, 30,000 attendees and over 200+ exhibitors.

The event will also be supported through a wide array of Lao and international media partners, including major local media channels both on and offline, Lao’s most prominent business chambers, and an array of investor networks across ASEAN and in China.

Digital Classified Lao Sole Co., Ltd., the Lao subsidiary of Digital Classified Group, would like to extend the utmost thanks to our partners of the first ever Laorealestate.la Expo, namely the Lao National Chamber of Commerce and Industry (LNCCI), the Ministry of Industry and Trade, the Ministry of Industry and Commerce, the Ministry of Planning and Investment, the Ministry of Civil Affairs, the Ministry of Natural Resources and Environment & APA Insurance.

Those wanting to supercharge their brand and business connections are urged to sign up for a booth.

Lao Real Estate Expo 2019

To become an exhibitor or sponsor and take your real estate brand to the next level, visit https://realestatekh.lpages.co/lao-real-estate-expo-2019-exhibitors-sponsors/ or contact: +856 20 55 550 906 | contact@yula.la

Attendees are  encouraged to register as soon for event updates and prizes vis https://realestatekh.lpages.co/lao-real-estate-expo-2019-attendees/ to sign up for free entry and RSVP on Facebook: https://www.facebook.com/events/2192522880987586/

Sponsors include APA Insurance, provider of property and construction insurance, Archineer Associates, Architecture, Engineering and Consultancy firm; Aristo Developers, Property Developing companies in Cyprus, and Bluegrass Design Group and Guru Group, end-to-end marketing companies.

Additional Partners & Media include American-Lao Business Association, The European Chamber of Commerce and Industry in Laos, Austcham Lao, Muan.la, Bizgital, ECCIL (The European Business Chamber), The Laotian Times & LaoPost, Talatlao magazine, Realestate.com.kh, Champa Meuanglao Magazine, J&C Services, 108 Jobs, cvConnect, Kiwipay, Silkroad Media and Big Blue.

The Laotian Times reporting on real estate issues and stories can be found here.

via laorealestate.la yula.la & LNCCI. Laotian Times, Lao Post, Champa Meuang Lao among the media partners.

Lao Real Estate Expo 2019
via laorealestate.la yula.la & LNCCI. Laotian Times, Lao Post, Champa Meuang Lao among the media partners.

Words + Laotian Times; Images + Laos Briefly

Korean Firm DGB Financial Group Establishes Leasing Business in Laos

DGB Leasing Laos

DGB Financial Group from the Republic of Korea has expanded its financial business into Laos, after the company performed well in its home country.

The company has established DGB Lao Leasing Co., Ltd in Vientiane Capital, and an official opening ceremony was held last month.

The company’s chairman, Sonexay Sitphaxay, noted that financial institutions had grown significantly in Laos, and now play an essential role in helping individuals and businesses to access funding.

DGB Financial Group has over fifty years experience in the finance sector in Korea, and the company believes this experience will help it to become a market leader in Laos. The company hops to assist consumers on low and medium incomes to gain access to financial services.

There are now 166 financial institutions registered with the Bank of the Lao PDR, including 29 leasing companies.

“DGB Financial Group invests in various financial businesses so we hope that besides the leasing business the company will be able to expand its business into various financial areas in Laos,” Sonexay added.

Ministry of Finance: Tax Take Set to Increase Next Year

The Taxation Department of the Ministry of Finance is aiming to introduce new land and road tax rates to boost government revenue for next fiscal year. According to the Taxation Department’s report for the first seven months of the 2015-2016 fiscal year they were yet to determine what the percentage increase would be for the numerous categories of land and road tax.

At present tax is collected for land and vehicles at many different rates depending on the type of land as well as vehicle.

However, all rates are set to go up to increase the country’s coffers for use in social, economic and infrastructure development.

The move comes after the Taxation Department showed overall revenue collection across the country decreased by 5.1 percent during the first seven months of 2015-2016 compared to the same period in 2014-2015.

The department is also working to increase efficiently in collecting revenue including the continued improvement of the land tax collection system.

The department is implementing technological improvements such as its Easy Tax System which allows firms and individuals to pay tax electronically through the banking system.

Authorities believed state revenue from land taxes through the electronic system would increase by 25-30 percent every year. Despite collections being down the Taxation Department is forecasting revenue across the country to reach its goal of 4,394 billion kip for the last five months of this fiscal year.

According to its recent report for the first seven months of the 2015-2016 scal year, tax collected in Vientiane reached 2,343 billion kip while the other provinces attained 2,051 billion kip.

The department was also predicting an improved tax base from 470 large business units amounting to around 500 billion kip.

The Tax Department will continue to collect 9.6 billion kip in tax from 2,658 stored vehicles as well as 140 kip per litre from fuel amounting to 15.1 billion kip for the final five months of the fiscal year.

Source: Vientiane Times

Finance Officials Asked to Identify Causes of Missing Revenue

Deputy Prime Minister and Minister of Finance Somdy Douangdy has called on the Party Committee of the Ministry of Finance to identify the real causes of the failure to reach revenue collection targets.