Economics11/19/2024 9:52:30 AM
The Ministry of Finance has announced substantial revenue growth for the first 10 months of 2024, with total revenue reaching 46.17 trillion kip, equating to 92% of the annual target. This figure represents 15.72% of the nation’s GDP, marking a 40% increase compared to the same period in 2023, when revenue totaled 13.08 trillion kip.
Economics11/18/2024 2:36:30 PM
The Lao government anticipates that the national gross domestic product (GDP) will grow by 4.6% in 2024, surpassing the National Assembly’s approved target of 4.5%.
Economics11/17/2024 10:16:42 PM
The ceremony for the Phase 1 production launch and capacity expansion of investment projects in the Asia-Potash International Intelligent Industrial Park took place on November 16, 2024.
The launching event was attended by Prime Minister Sonexay Siphandone, along with other Party and government leaders, ministers, provincial governors, senior executives of the Asia-Potash International, and other relevant parties.
Economics11/11/2024 4:35:18 PM
The Lao-Chinese Business Forum took place on November 9, 2024, in Hangzhou, Zhejiang Province, China.
The event saw participation from government and business representatives from both Laos and Zhejiang Province, China, with Prime Minister Sonexay Siphandone delivering the keynote address.
Economics11/11/2024 4:05:53 PM
Betagro Public Company Limited, or "BTG," inaugurated last week its first animal feed factory in the Lao PDR.
The factory, established with an investment of over 650 million baht, uses advanced technology in animal feed production and resource management, with an annual production capacity of 108,000 tons.
Economics11/8/2024 9:44:41 AM
Vientiane, Nov 7, 2024 – Laos’ economy has shown slight growth this year, but a heavy debt burden and ongoing macroeconomic instability continue to limit its potential, according to the World Bank's latest Lao PDR Economic Monitor: Reforms for Stability and Growth.
Economics11/7/2024 5:57:21 PM
Laos' inflation rate saw a slight decline in October, dropping to 20.7% from 21.7% in September and 24.3% in August, according to a report from the Lao Statistics Bureau.
Economics11/5/2024 9:49:46 AM
Lao People’s Revolutionary Party Secretary General and President Thongloun Sisoulith urged swift action on the nation’s economic challenges, emphasizing that these issues "can no longer be left unaddressed.
Economics10/29/2024 1:37:14 PM
Since its inauguration in late 2021, the Laos-China Railway has become a cornerstone of socio-economic growth in the Lao PDR, symbolizing enhanced connectivity, economic advancement, and regional integration.
Stretching over 1,000 kilometres from Kunming in China’s Yunnan Province to the Laotian capital, Vientiane, the railway is a flagship project of China’s Belt and Road Initiative (BRI). It has significantly promoted trade, tourism, and local livelihoods, underscoring its value to Laos.
Economics10/28/2024 1:05:16 PM
The government convened its monthly meeting on October 24, chaired by Prime Minister Sonexay Siphandone, with key discussions centering on increasing the minimum salary for civil servants and adjusting personnel quotas for various government sectors for the upcoming year.
