Economy and commerce

VIENTIANE (Vientiane Times/ANN) – The government cabinet has pledged to continue efforts to streamline procedures to better facilitate business operations.The commitment was made as the cabinet concluded its monthly meeting for May which ended yesterday, according to a press statement from the Prime Minister’s Office.The ...

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 ...

VIENTIANE (Vientiane Times/ANN) – The Lao government has set a target of reducing the trade deficit with Vietnam to about US$227 million this year, with the country producing more products for export.The value of imports from Vietnam to Laos is expected to touch US$985.3 million, ...

VIENTIANE (Vientiane Times/ANN) – The Ministry of Agriculture and Forestry said yesterday that problems surrounding banana plantations in Laos were due to the fact that investors carried out negotiations directly with local communities instead of going through full legal channels.Deputy Minister Bounkhuang Khambounheuang told Vientiane Times that ...

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 ...

VIENTIANE (Vientiane Times/ANN) – The Ministry of Industry and Commerce plans to introduce a new service charter to reduce the time it takes to authorise imports and exports, as part of efforts to improve the business climate.The ministry’s Import and Export Department said in a ...

VIENTIANE (Vientiane Times/ANN) – The Lao government expects that regional and international economic links in the areas of trade and investment will flourish with the development of necessary tools that will improve the business environment.One of the key factors for the improvement of trade and ...

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 ...

VIENTIANE (Vientiane Times/ANN) – The Lao National Chamber of Commerce and Industry (LNCCI) has postponed the Made in Laos 2019 Fair until July 20-28 after a fire damaged Lao-ITECC where the event was scheduled to take place from May 10-19.A fire broke out on the ...

VIENTIANE (Vientiane Times/ANN) – The value of Laos’ combined exports and imports in the first quarter of 2019 amounted to 1.53 percent less than during the same period last year, excluding the value of electricity imports and exports.Total trade value in the first three months ...