Economy and commerce
Banking and financial services
Bank lending slows amid economic downturn in Laos
VIENTIANE (Vientiane Times/ANN) – The injection of bank credit into the economy continues to slow despite government measures to improve the investment climate for the private sector. According to a recent government report, credit growth further moderated to 3.13 percent over the past three months of this ...
Somsack Pongkhao
http://annx.asianews.network/content/bank-lending-slows-amid-economic-downturn-laos-100123
Central bank urges cooperation to create QR code payment standard in Laos
VIENTIANE (Vientiane Times/ANN) – The Bank of the Lao PDR requires closer cooperation with relevant sectors to create a national QR code standard for banks and financial institutions to further enable the convenient payment service.Officials from different banks and financial institutions, including representatives from relevant ...
Lao Ministry targets reform through public finance projects
The Ministry of Finance believes the management of the public finance system will be more effective, transparent and auditable after two supporting reform projects were officially launched last Friday.The two-newly launched initiatives are the Enhancing Public Finance Management through Information and Communication Technology and Skills ...
Bounfaeng Phaymanivong
Lao govt asks NA to consider incentives for future BOT investments
VIENTIANE (Vientiane Times/ANN) – Prime Minister Thongloun Sisoulith has asked members of the National Assembly (NA) to consider the use of incentives to entice private business investment for public infrastructure projects.The government wants to encourage investments that are licensed under a Build-Operate-Transfer (BOT) model in ...
Souksakhone Vaenkeo
http://annx.asianews.network/content/lao-govt-asks-na-consider-incentives-future-bot-investments-98384
Everex Announces Collaboration With Lao Development Bank
Singapore-based blockchain services provider EVX Holdings, Pte. Ltd., operating as Everex, has signed a Memorandum of Understanding (MoU) with Lao Development Bank (LDB) to develop and implement blockchain technology for cross-border payments and trade finance.More ...
Diana Ngo
https://coinjournal.net/everex-announces-collaboration-with-lao-development-bank/
Currency control measures being moderately implemented: Lao PM
VIENTIANE (Vientiane Times/ANN) – The management of the Lao currency is being moderately implemented across the country and it is stable as the rate of inflation stands at 1.5 per cent. However, the National Assembly (NA) has given the government the task of bringing the currency ...
Bounfaeng Phaymanivong
http://annx.asianews.network/content/currency-control-measures-being-moderately-implemented-lao-pm-98319
Lao bankers learn about sanctions-related risk management
VIENTIANE (Vientiane Times/ANN) – The Lao Bankers’ Association (LBA) is working to upgrade the skills of employees of banks that are members of the association by equipping them with broader understanding of risk management and prevention of money laundering and terrorism financing.The LBA’s Chairman, Mr ...
Bounfaeng Phaymanivong
Lao Bankers learn about new global payment methods
VIENTIANE (Vientiane Times/ANN) – Laos’ banks are hopeful that the introduction of quick and quality services will also come with added security in the cross-border payment process, to better serve and protect clients.To this end, the Lao Bankers’ Association invited experts from the Society for ...
Bounfaeng Phaymanivong
Don’t use cryptocurrencies, Lao central bank warns
VIENTIANE (Vientiane Times/ANN) – The Bank of the Lao PDR has warned commercial banks, businesses and members of the public not to buy, sell or use cryptocurrency for money transactions as this practice is illegal.The central bank’s Transaction System Management Department recently issued the warning ...
Souksakhone Vaenkeo
Plan to boost cashless payments in Laos
VIENTIANE (Vientiane Times/ANN) – The Bank of the Lao PDR (BOL) is drafting a plan to promote cashless payments and to facilitate and manage money transactions in Laos.Use of e-wallets through the banking system is fast becoming a trend among city dwellers. They pay their ...
Manichanh Pansivongxay