Economy and commerce

Slower growth projected for Lao economy: World Bank

Economic growth in Laos is expected to be slower than forecast in April due to both external and internal factors, according to a report issued by the World Bank on Monday.  According to the World Bank, economic performance across developing East Asia and the Pacific, ...

Somsack Pongkhao

Laos Government Allows Foreign Legal Businesses to Survey Land

A recent announcement from the ministry states that the Decision applies to individuals, legal entities, and organizations being operated in Laos by foreigners, stateless persons, and foreign-Lao nationals. Lao nationals can conduct land use rights business, land surveying services, land price evaluation, and other land-related services ...

Manyphone Vongphachanh

Association: fuel supply will be normalised in the near future

Residents of Vientiane are concerned about another fuel shortage with several petrol stations in the city being closed since Monday.However, the concerned sectors have issued reassurances that fuel will soon be available in sufficient quantities to meet daily demands. The fuel shortage has occurred at ...

Phetphoxay Sengpaseuth

Laos Government to Resolve Debt, Fuel, Currency Crises

The commitment to stabilizing the economy was one of 13 issues the cabinet identified as requiring immediate attention during a two-day open government meeting that ended on Friday.The government resolved to use various means to try to solve the problem of public debt, especially debt created by ...

Latsamy Phonevilay

The transformation of Laos from land-locked to land-linked

As the only landlocked country in South East Asia, Laos depends on neighbouring countries’ infrastructure to import and transport its goods. As a result, the success or failure of Laos depends on the efficiency of these countries’ infrastructure networks. Laos’ international logistics system largely depends ...

Souksakhone Phengsavath

Inflation in Laos Reaches 22-Year High as Economic Crisis Worsens

Inflation continues to spiral out of control in Laos, with the country’s Statistics Bureau announcing this week that the country’s year-on-year inflation had risen to a 22-year high of 23.6 percent in June. According to a report in the state-run Vientiane Times, the consumer price index ...

Sebastian Strangio

Kip depreciation deals heavy blow to Lao economy

The Lao kip has plunged to a record low in recent days against the US dollar and Thai baht despite the government’s attempts to stabilise currency exchange rates.The value of the national currency has nosedived since the end of March, the Governor of the Bank ...

Somsack Pongkhao

Inflation rate closes in on two digits

The year-on-year inflation rate in Laos surged to 9.9 percent in April, the highest figure recorded since January 2016, according to the latest report from the Lao Statistics Bureau. The consumer price index jumped at its fastest pace in recent months, further putting the squeeze ...

Souksakhone Vaenkeo

Sound Public Financial Management Key to Economic Recovery in Lao PDR

The economy of the Lao PDR is forecast to grow 3.4% this year and 3.7% next year thanks to the country’s investments to boost exports, according to the Asian Development Outlook (ADO) 2022 released by the Asian Development Bank (ADB) on Apr 6.Rising oil prices ...

KPL

Laos’ Surging Inflation a Cause for Concern

Inflation in Laos is set to move beyond a six-year high, jumping from 6.25 percent in January to 7.3 percent in February, according to the Lao Statistics Bureau. While the government had set a target of at least 4% annual GDP growth from now through 2025, ...

Latsamy Phonevilay

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