Trade policy and regulation
Money exchange units banned from selling foreign currency
Money exchange units that represent commercial banks are now prohibited from selling foreign currency, according to the Bank of the Lao PDR. Became effective on October 11, the ban supports the government’s attempts to give commercial banks a greater role in the purchase and sale ...
Govt to push businesses to boost production for Chinese market
The government is set to hold talks with business operators to encourage them to produce more of the goods required by Chinese buyers. The government’s plan to promote commercial production associated with the Laos-China railway, which is scheduled to come into service next month, to ...
Lao PDR: Economy Recovers then Falters Again under COVID-19
The Lao economy is on course for moderately improved growth in 2021, despite the second wave of COVID-19 denting the promising economic recovery made early in the year. The World Bank’s latest Economic Monitor for Lao PDR — A Path to Recovery —predicts that GDP ...
Laos govt reviews conditions for import and sale of vehicles
VIENTIANE (Vientiane Times/ANN) – The government has instructed dealers who import and sell vehicles to present their documents to the Department of Import and Export of the Ministry of Industry and Commerce no later than November 29.If a company fails to present their documents they ...
Laos to clamp down on imports in bid to curb rising exchange rate
VIENTIANE (Vientiane Times/ANN) – The government will introduce strict measures to regulate the import of consumer goods and bolster domestic production, in an attempt to reduce imports and cut capital flow to other countries.A surge in both legally and illegal imported goods from neighbouring countries ...
Cost of farmed fish exceeds price set by Lao government
VIENTIANE (Vientiane Times/ANN) – The price of farmed fish on sale in Vientiane markets is now higher than the price set by the government after many fish farmers suffered losses during the recent floods.Adding to their woes are the higher costs they incur in raising ...
Laos to stop quality testing of electronic, electric appliances
VIENTIANE (Vientiane Times/ANN) – The government has mandated to abolish quality tests for electronic and electrical appliances which are imported through the Lao-Thai Friendship Bridge I. Ever since its implementation, this move seems to have impacted the business sector. This has led to the rise in ...
Lao firms demand regulation of illegal imports
VIENTIANE (Vientiane Times/ANN) – A large number of Lao businesses that produce goods for the domestic market are at a disadvantage because nothing has been done to control the influx of illegally imported goods.“Many Lao firms are suffering from lost business because they can’t compete ...
Laos plans regulatory reforms to boost trade at border crossings
VIENTIANE (Vientiane Times/ANN) – The Ministry of Industry and Commerce will continue efforts to improve or remove unnecessary measures and regulations relating to exports and imports to bolster cross-border trade.Officials in charge of trade facilitation met in Vientiane last week for the 2nd Trade Facilitation ...
Laos heading for half year trade surplus
VIENTIANE (Vientiane Times/ANN) – Laos is likely to enjoy a trade surplus of about US$121 million for the first six months of the year, even as the government is predicting an overall trade deficit of around US$259 million for 2019.Projected exports for the first six ...