Government

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

Govt appoints taskforce to address fuel crisis, skyrocketing prices, foreign currency shortfall

The government has formed a new taskforce to address the fuel crisis, the spiralling price of consumer goods, and dwindling foreign currency reserves.The move comes as Laos battles a damaging fuel shortage in the wake of the depreciation of the kip. The unfavourable exchange rate ...

Souksakhone Vaenkeo

Govt aims for annual GDP growth of at least 4 percent

The government has set an annual economic growth target of at least 4 percent from now until 2025, even though there is no indication as to when the Covid-19 outbreak will be contained. The agriculture sector is expected to grow at an average annual rate ...

Somsack Pongkhao

Laos Moves Up Six Positions in Corruption Index for 2021

Over the last few years, Laos has steadily climbed the ranking. Its ranking rose from 135 in 2017 to 132 in 2018, 130 in 2019, but it dropped to 134 in 2020. To promote transparency in Laos, the government has focused on developing anti-corruption knowledge ...

Phayboune Thanabouasy
http://ໄພບູນ ທະນະບົວສີ

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 ...

NA Ethnic Affairs Committee opens plenary meeting

On Oct 20, the Ethnic Affairs Committee of the National Assembly’s 9th legislature held its plenary meeting under the presidency of the Chairman of the Committee. She noted that over the past one year, the Ethnic Affairs Committee in cooperation with relevant authorites has met eligible ...

KPL

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 ...

KPL

Laos Hopes to Pay Off USD 14 Billion Debt by 2025

Minister of Finance, Bounchom Ubonpaseuth spoke at the National Assembly’s ninth legislature recently, saying that the country plans to pay debts (foreign debt to the tune of USD 13 billion and domestic debt of USD 900 million) over the next five years, from 2021-2025, and ...

Latsamy Phonevilay

NA’s extraordinary session opens for national agenda debate

The first extraordinary session of the National Assembly (NA)’s ninth legislature kicked off on Thursday to debate measures to address financial and economic difficulties and suppress the use of narcotic drugs. The premier pledged that the government would be decisive, transparent and professional in implementing ...

Souksakhone Vaenkeo

More than 84,000 people driven into poverty due to pandemic

Statistics indicate that 84,418 people are unemployed and suffering severe financial hardship across the country as a result of the Covid-19 pandemic, including many who have been laid off from jobs in other countries.The figures were obtained by village authorities after they surveyed poor and ...

Phetphoxay Sengpaseuth

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