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Category Archives: Economy

Why the Mekong River Commission Matters

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Despite its limitations, the body is key to ongoing efforts to save one of the world’s largest and longest rivers.

The Mekong River Commission (MRC) is gearing up for another test of its effectiveness following the announcement of Laos’ plans to construct the Pak Beng hydropower project, the third …

China Is Transforming Southeast Asia Faster Than Ever

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China’s investment is transforming its smaller Southeast Asian neighbors like never before while helping turn Cambodia, Laos and Myanmar into bigger destinations for its exports.

That’s driving some of the world’s fastest economic growth rates and providing Chinese companies with low-cost alternatives as they seek to move capacity out of …

SNU-Lao Foundation Provides Dental Training to Students

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Students and teachers from the Faculty of Dentistry at the University of Health Sciences recently participated in a training seminar on dentistry aimed at improving and developing dental treatment in Laos, run by a representative of Seoul National University, Dr Lee Jong-Wook.

The seminar was supported by the SNU-Lao Foundation …

Govt, Microsoft to Accelerate Digital Transformation

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Software giant Microsoft has underscored its commitment to empowering every person and every business in Laos.

The initiative is in line with Microsoft’s National Empowerment Plan, which aims to advance the adoption of emerging technologies for sustainable development.

Another objective is to generate new business development opportunities, especially those with …

Nayoby Bank to Increase Loan Amounts, Expand Branches

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Nayoby bank will increase the maximum loan amount it releases to a customer from the current 30 million kip to 50 million kip next year and expand its service coverage in a move to enable more farmers to access finances for their production needs, a bank governor has said.

Governor …

Skilled Labour Needed for Development Zones

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A large quality of skilled labour remains in high demand for development zones across the country, especially the Saysettha Development Zone in Vientiane, according to a senior official at the zone.

Deputy General Manager of the Lao-China Joint Venture Investment Co., Ltd., Mr Kiengkham Phoutchanthavongsa, spoke to Vientiane Times during …

Central Bank Permits Importers to Borrow in Foreign Currency

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The Bank of the Lao PDR has permitted commercial banks to release loans in foreign currency to importers, including those who currently have no income in foreign currency.

The central bank issued a decision recently to relax borrowing restrictions, which previously allowed only those having income in foreign currency to …

China Funds Poverty Reduction in Laos

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The Chinese government has agreed to provide grant funding of over 34 billion kip (over 33 million Yuan) to address poverty reduction in Laos, especially in outlying areas of the capital Vientiane and rural areas of Luang Prabang province.

The grant is part of the Pilot Project for Poverty Reduction …

Luang Prabang Handicrafts Festival Attracts more Visitors

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Luang Prabang Handicrafts Festival has attracted more than 3,000 local and foreign visitors since the event began on December 4.

The weeklong festival is being organised by Luang Prabang Handicrafts Association and before it concludes on December 11 it is hoped they will be able to attract at least 9,000 …

Dry Season Rice Plan Under Consideration

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The Ministry of Agriculture and Forestry is considering whether the figure for this year’s dry season rice plan should be revised downwards or remain stable after the last four harvests failed to reach the target.

Last dry season, farmers planted only about 99,000 hectares or 88 percent of the area …

Laos-China Railway to Spur Border Zone Development

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The Laos-China railway will provide significant momentum for the development of the Boten-Mohan border economic cooperation zone, experts have noted.

The railroad, a key project under China’s Belt and Road initiative, will link the Mohan-Boten border crossing in northern Laos to Vientiane, over a distance of 427 kilometres.

Experts are …

Intercontinental Set for 2021 Laos Debut

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Intercontinental Hotels Group (IHG) is set to open its first Intercontinental-brand property in Laos in 2021, as part of the new mixed-use World Trade Centre development. The more than 400-room Intercontinental Vientiane will join a retail mall, medical centre, conference centre, office tower and residential towers when it opens.

The …

Employees Enjoy Better Working Conditions, Rights

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More than 400 state enterprises and private factories in Vientiane have signed on to collective bargaining agreements to protect the rights and benefits of both employees and employers.

Most people working at state enterprises are more satisfied with their working conditions than employees in factories, because some state enterprise workers …