Economy and commerce

Vientiane Exchange Money will become the first international currency exchange provider that has been certified to allow cryptocurrency transactions. This is considered a momentous occasion and the importance of how new technology will play a role in peoples’ lives, offering new experiences and opportunities in ...

Despite budgetary tensions, the government is working to pay a total of 3.25 trillion kip owed to private companies under the triangle-debt-diversion disbursement initiative. Addressing the National Assembly yesterday, Deputy Prime Minister and Minister of Finance, Mr Somdy Duangdy, clarified the government’s position regarding the ...

Soukhoungheuang company plans to sell 12,000 tonnnes of bananas harvested from its farmland concession in Savannakhet province to Russia. The Vietnamese company plans to invest US$38 million in growing fruit trees on about 5,500 hectares in Nong district, Savannakhet province, and has cleared 1,900 hectares ...

The government has adopted measures to stimulate economic growth while also taking steps to curb inflation, which could cause hardship if it spirals higher.More ...

The value of stocks traded on the Lao Securities Exchange saw rapid growth last year, according to a report from the Bank of the Lao PDR. The central bank released its annual report recently, providing an overview of the economic development of Laos last year ...

Petrol stations that open for business near an existing facility or are too close to a residential area must move away within one year from now, a senior government official has said. Minister of Industry and Commerce Ms Khemmani Pholsena earlier this month issued an ...

The government is piloting the Lao National Single Window (LNSW) scheme at international border crossings, seeking to speed up customs clearance for vehicles and link the country to the Asean single window system. The Ministry of Finance’s Customs Department signed a Memorandum of Understanding (MOU) ...

The business sector and agricultural promoters have urged Lao authorities to increase measures to check the import of farm products through border crossings. Scattered imports through this channel are considered an obstacle to attracting investment and growth of the sector in the country. Vice President of ...

LAO economists have urged the government to accelerate the privatisation of state enterprises that have been underperforming, as part of measures to improve its financial position.Economists at the Lao National Economic Research Institute made the recommendation in their March economic update, aiming to help the ...

Over 600 vehicles that were illegally imported into Borikhamxay province have now been legalised, despite some challenges in the process, according to a committee in charge of the matter. A senior official on the committee, Mr Khamvaen Panyanouvong, told Vientiane Times on Friday that only 100 ...