SkyscraperCity banner

1 - 20 of 76 Posts

·
Moderator
Joined
·
18,621 Posts
Discussion Starter #1
Laos Economic Thread

Laos raises GDP growth forecast level to 7.8 percent

The Lao government has changed the forecast of national economic growth to 7.8 percent from 7.5 percent originally set for the 2009-10 fiscal year amidst the global economic rebound.

Lao Prime Minister Bouasone Bouphavanh released the forecast at a National Assembly meeting that opened in Vientiane on June 14.

Agriculture and forestry are forecast to make up 29 percent of the gross domestic product (GDP) while industry accounts for 17 percent and services 32.9 percent.
Budget deficits are estimated at 3.36 percent of the GDP.

GDP growth for the 2010-11 fiscal year is expected to reach 8 and 8.5 percent.

The Lao Government leader said dynamic global economic recovery has helped boost Lao exports and encourage foreign investment into the Indochinese country.

In the first six months of 2010, foreign direct investment into Laos reached 49 million USD and official development assistance (ODA), 257 million USD.
http://dangcongsan.vn/cpv/Modules/News_English/News_Detail_E.aspx?CN_ID=408696&CO_ID=30107#pT1ABXKQaGpM
 

·
Moderator
Joined
·
18,621 Posts
Discussion Starter #2
French investment boosts Lao economic growth
French investment has made a significant contribution to the development of the Lao economy over the past decade, according to a report from the Ministry of Planning and Investment.

Electricité de France holds a 35 percent share worth US$1.4 billion in the Nam Theun 2 hydropower project. Nam Theun 2 is the biggest hydropower project in Laos, and has significantly boosted the Lao economy.

The latest report on foreign investment in Laos shows that French businesspeople invested about US$454 million in 68 projects from 2001-2009, becoming the fourth largest foreign investor in the landlocked nation after Thailand, China and Vietnam.

French investment was valued at US$500,000 in 2008, US$11 million in 2009 and US$210,000 so far in 2010, the report shows.

Lao economic growth has been above 7.5 percent over the past five years thanks largely to private investment, which covers about 30 percent of GDP. Investment in the mining, hydropower and agriculture sectors is currently booming.

Most French investments are in hotels, travel agents, restaurants, import-export businesses, consultancy firms, insurance companies and the banking, agriculture and hydropower sectors.

Electricité de France holds a 35 percent share worth US$1.4 billion in the Nam Theun 2 hydropower project in the central province of Khammuan. The project will provide about US$80 million a year in revenue for the Lao government over the 25 years of the project concession agreement.

Secretary General of the French Chamber of Industry and Commerce in Laos, Mr Germain Thomas said yesterday that there were more than 100 French companies operating in Laos, adding that more French enterprises are expected to come in the near future. A group of French businesspeople visited Laos in May this year to seek investment opportunities and investigate high potential areas such as airport development, mining projects, and traditional medicines.

The group was led by president of the General Confederation of Employers of Small and Medium Enterprises (CPGME) of Rhone-Alpes, Mr Francois Turcas.

According to Mr Thomas, French businesspeople have found Laos one of the most attractive countries in Asia for investment as its national economy is emerging while its market is enlarging and infrastructure is better developed.

This has provided good investment opportunities for foreign businesspeople, including those from France, he said, adding that the small number of foreign investors in the country also makes French businesspeople happy to invest as they do not have to face strong competition.

“Everyone likes to be the first one to invest,” he said, adding that this would give them the advantage to compete with new investors.

One of the main attractions which makes French businesspeople invest in Laos is that many of them fall in love with the Lao lifestyle, Mr Thomas said. French people particularly like living in Luang Prabang, one of two World Heritage sites in Laos, he added.

Laos was a colony of France from the late 19th century until 1953. French buildings in Vientiane, Luang Prabang and other major cities in Laos are the best reminder for Lao people of this part of the country's history.
http://www.asianewsnet.net/home/news.php?id=13122
 

·
Moderator
Joined
·
18,621 Posts
Discussion Starter #3
India looking to Laos to bring India-ASEAN FTA into force: Patil
Hailing the economic growth of Laos and its investor friendly policies, visiting Indian President Pratibha Devisingh Patil on Friday said that as the fourth largest economy in the world in terms of purchasing power parity and one of the fastest growing economies, India is eager to expand commercially in this country.

Delivering a speech at a banquet hosted by Laotian President Choummaly Sayasone, President Patil said there was a need to encourage Indian investors further to avail mutually beneficial economic opportunities in trade and investment.

"On trade, we hope that Laos will issue the necessary notification at an early date to bring the India-ASEAN Free Trade Agreement into force. We also hope that Laos will participate in the India-ASEAN Trade Fair due to be held in March 2011 in New Delhi. Your participation will create awareness about complementarities that exist between our economies," Patil said.

Emphasizing that India attaches a very high priority to its relationship with ASEAN, and that within its Look East policy, it considered Laos a crucial partner; Patil said she was hopeful that the traditional friendship between both countries would ensure improved collaborative efforts under the Mekong-Ganga Cooperation Framework.

"There exists a great amount of goodwill in India for Laos. This is but natural, given that we have historical links, dating back more than two millennia. The exchanges between our peoples have resulted in many commonalities in our cultures, and some similarity of words in our languages. The purpose of my visit to the 'jewel of the Mekong', as Laos is so poetically called, is to reaffirm the historically close bonds of friendship that exist between our two countries. It is also to continue the high level dialogue," she said.

She also said that India is willing to be Laos's development partner in the Socio-Economic Development Strategy that seeks to move the latter out of the Least Development Country (LDC) status by 2020. India is willing to be your developmental partner.

"We are already engaged in a number of projects in Laos in the areas of hydropower, IT, human resource development, agriculture and mining. I am pleased that one of the projects the Paksong - Jiangxay Bangyo transmission line project was commissioned jointly by us today. I would like to reiterate India's continued interest and commitment to supporting your development objctives through capacity-building and human resource development," she said.

She also praised Laos for extending valuable support to India in various multilateral bodies, including to India's aspirations to be a permanent member in an expanded UN Security Council and the very positive role it played in facilitating the joining of India in the East Asia Summit.
http://www.calcuttanews.net/story/683458
 

·
Moderator
Joined
·
18,621 Posts
Discussion Starter #4
India signs $72.55 million line of credit with Laos
India today signed a $72.55 million line of credit agreement with Laos for hydropower projects as part of New Delhi's efforts to step up its presence in this ASEAN country.

The agreement for the line of credit, which was finalised earlier during President Pratibha Patil's 5-day state visit, was signed by EXIM Bank executive director Prabhakar Dalal on behalf of India and Minister of Finance of Laos, Somdy Douangly after a India-Laos Business Forum meeting here.

The line of credit is for 230 KV double circuit transmission line from Nabong to Thabok and sub-stations worth $34.68 million, and 15 MW Nam Boun 2 hydro project worth $37.86 million, Indian officials had said.

Some Letters of Intent and MOUs were also signed by Indian Chamber of Commerce in Laos with CII, Ficci and Assocham.

A 45-member strong delegation of CII, FICCI and ASSOCHAM members was here to attend the India-Laos Business Forum meeting.

During her address to the India-Laos Business Forum, President Patil said, "I can assure that India will continue to be a development partner of Laos."

She appreciated the efforts being made by Laos to move out of the Least Developed Country category by 2020.

"We have been following the encouraging progress made by Laos. The average GDP growth of Laos in the last five years has been 7.8 per cent," she said.

Laos has potential for foreign investment in mining, hydropower, construction, roads, railways as well as in agriculture, but has remained largely unexplored by Indian business houses.

"Laos is open to foreign investment and, I understand that a series of business laws have been enacted in Laos to simplify investment procedures and regulations. I think that there is insufficient knowledge in India of this change in Laos, and I call upon this Forum to address this issue so that Lao and Indian businessmen understand each other better," Patil said.

She maintained that bilateral trade between India and Laos was currently "quite modest" below $7 million.

"With a trillion dollar economy, India is already the fourth largest economy in the world in Purchasing Power Parity, and is posed to rise to the third rank. The vast Indian market offers many opportunities for Lao exporters," Patil said.

The Indian President also asked Laos to complete the India-Laos Free Trade Agreement soon as it would benefit the two countries.

She urged Indian businessmen to look at modules that promote business with South-East Asian region in an integrated manner.

The five-day state visit to Laos saw President Patil holding interactions with Laos President Choummaly Sayasone and Prime Minister Bouasone Bouphavanh.

Other than exploring business prospects, India is also looking at strengthening cultural ties with Laos which is a predominantly Buddhist nation with strong Hindu roots.

Patil visited former Laos capital and historical city of Luang Prabang where the traditional Baci ceremony was performed in her honour. She visited the ancient Xiengthong temple there during the tour.
http://www.business-standard.com/india/news/india-signs-7255-million-linecreditlaos/108522/on
 

·
Moderator
Joined
·
18,621 Posts
Discussion Starter #5
Laos govt to raise tax on cigarettes, alcohol
The price of whisky, beer and cigarettes in Laos may increase over the next year as the government is planning to raise the consumption tax on both imported and locally made brands.

Prime Minister Bouasone Bouphavanh has signed a prime ministerial decree on the implementation of the 2010/2011 socio-economic development plan, assigning the Ministry of Finance's Taxation Department to study and propose an increased absolute tax rate for whisky, beer and cigarettes for the government to consider and approve next fiscal year.

The move is one of the government's measures to secure its national income after deciding to adopt a single business profit tax for local and foreign firms, in accordance with the newly amended Law on Investment Promotion.

At present, foreign companies pay only 20 percent of their profit as tax to the Lao government, while domestic firms pay about 35 percent. In future, they will pay the same rate, but the figure has not yet been decided upon.

The government expects to collect revenue of about 13,021 billion kip (about US$1.6 billion) next fiscal year. It plans to spend about 15,160 billion kip (US$1.8 billion). The budget deficit is expected to reach 3.49 percent of GDP.

Tax officials said it is still unclear whether the government will be able to impose a new consumption tax rate on imported and locally made products in the next fiscal year, since it is difficult to reach an agreement on the appropriate rate.

Cigarette, whisky and beer makers in Laos want to keep consumption taxes low so their prices stay affordable and they can boost sales, the officials said.

But the government wants to increase taxes on cigarettes and beer due to concerns that excessive consumption is having a strong negative impact on public health.

The government has passed a law banning people from smoking in public areas after learning about the harmful effects of passive smoking on non-smokers.

The officials also said that although the government regularly adjusts consumption taxes on luxury goods, such as whisky and beer, they are still low compared to other countries, so these goods remain affordable.

They said it would not be a problem if the price of imported and locally-made whiskies increased, since they are not necessary for people's wellbeing, and anyway it would be good if people cut down their drinking and smoking.

Ministry of Finance Office Head Mr Sila Viengkeo said the government's policy is also to increase the absolute tax rate on imported and locally-made luxury goods such as perfume.

He explained that increased consumption tax on such products reflects the fact that the government does not want to promote their import and use.

He added that the government increases absolute tax on local and imported luxury goods regularly as it believes consumption of these goods does not boost the growth of the Lao economy.
http://www.asianewsnet.net/home/news.php?id=14508&sec=1
 

·
Moderator
Joined
·
18,621 Posts
Discussion Starter #6
Laos Forms Stock Exchange, Plans Start of Share Trading in 2011
Oct. 7 (Bloomberg) -- Laos, the smallest economy in Southeast Asia, is starting its first stock exchange to provide local companies with an avenue to raise funds for expansion and investment, the bourse’s chief said.

The stock exchange will start trading shares “some time” in early 2011, Dethphouvang Moularat, Chairman and Chief Executive Officer of the Lao Securities Exchange, said in a telephone interview from Vientiane yesterday. The bourse will be officially established this week, he said, declining to give the specific date.

Landlocked Laos is seeking global investors to help pay for infrastructure projects and create jobs for its 7 million citizens, nearly half of whom are younger than 16. Rio Tinto Group and Electricite de France SA are among companies that have boosted investments in mines and power plants to tap into the nation’s rivers and other natural resources.

“Having a capital market will greatly help domestic companies raise expansion capital,” said Douglas Clayton, Phnom Penh-based chief executive officer of Leopard Capital, which manages about $34 million of assets in Cambodia. “It will also stimulate the growth of a private equity industry because an IPO can create an exciting exit route for such funds.”

Laos’ economy may expand 7.5 percent in 2011 from an estimated 7.4 percent this year and a 5.5 percent pace in 2009, boosted by electricity sales to Thailand and higher prices of copper, gold and silver, the Asian Development Bank said in a report on its website.

‘Stepping Stone’

Rio, the world’s third-biggest mining company, and Mitsui & Co. are jointly exploring bauxite and other minerals in Laos, the two companies said in August. Electricite de France, Europe’s biggest utility, and its partners operate a 1,070- megawatt hydro power plant in Laos, the country’s largest.

“The stock market is the key stepping stone for the country’s economic development,” said Dethphouvang. “The need for new capital has increased significantly with expansion of the economy and investments.”

Dethphouvang declined to say how many companies may be listed when the exchange starts trading shares. In neighboring Thailand, about 478 companies are publicly traded on the main board of the nation’s bourse while Vietnam’s Ho Chi Minh Stock Exchange has more than 260 listed stocks.

“The challenge is to educate retail investors about the basic principles of company valuation so the exchange does not start to resemble a casino,” Leopard Capital’s Clayton said. “Most emerging markets have gone through a hyper-speculation phase at one time or another, and the inevitable massive correction can crush investor interest for a long time.”

Clayton said in August Leopard Capital plans to raise about $50 million to invest in Cambodia and Laos. The company plans to open a representative office by the end of this year in Vientiane, the capital of communist-run Laos, he said.
http://www.businessweek.com/news/2010-10-07/laos-forms-stock-exchange-plans-start-of-share-trading-in-2011.html
 

·
Moderator
Joined
·
18,621 Posts
Discussion Starter #7
Vice-Premier receives World Bank's country director for Laos


Mr. Somsavat Lengsavad, Standing Deputy Prime Minister of the Lao PDR, received at his office in Vientiane on 5 October a courtesy visit of Ms. Kaiko Miwa, World Bank Country Director for Laos.

At the talks, Ms. Kaiko Miwa briefed Mr. Somsavat Lengsavad about the World Bank's National Rural Development and Poverty Reduction Fund Project implemented in Laos. During the past eight years, the World Bank's National Rural Development and Poverty Reduction Fund Project has provided significant contribution to the Lao governments poverty reduction programme and was a mechanism of the government for rural development and poverty reduction for all ethnic people
in Laos.

On this occasion, SDPM Somsavat Lengsavad expressed thanks to the World Bank for its support and assistance for the socio-economic development in Laos during the past and present time.
http://app02.laopdr.gov.la/ePortal/news/detail.action?id=26498&from=search
 

·
Moderator
Joined
·
18,621 Posts
Discussion Starter #8
World Bank Group President Robert B. Zoellick commends progress in Lao PDR
VIENTIANE, Lao PDR, — World Bank Group President, Robert B. Zoellick, commended Lao PDR for its impressive economic growth and successes in overcoming poverty and promised continued support for the country’s development programs.

“In less than a generation, the incidence of poverty in Lao PDR has gone from almost half the population to just over a quarter. Lao PDR’s commitment to development has brought electricity to most households, schools to most children, and roads to many villages that were once inaccessible,” said Zoellick. “The Bank Group stands ready to help the government build on these successful efforts,” he added.

Zoellick’s comments came at the end of a two day visit to the country, during which he met senior officials including President Choummaly Saysone and Prime Minister Bouasone Bouphavanh. The economy of Lao grew, on average 6.4% over the past decade and poverty declined from 46% in 1993 to 27% in 2008.

In his first visit to the country as World Bank president, Zoellick also visited the Nam Theun 2 (NT2) hydropower project site, which was built with World Bank Group support and is located about 400 kilometers outside the capital, Vientiane.

“Nam Theun 2 project has been transformative for Lao PDR and is helping deliver a development dividend for the country’s poor people with funding for textbooks, roads to connect remote villages to markets and deliver power to rural homes,“ Zoellick said. “It is helping the country to increase public spending on overcoming poverty and boost environmental management programs, while providing significant support for the economy.”

Since the start of commercial operations in April, the Government of Lao PDR has received about $5.6 million from the sale of electricity generated by the Nam Theun 2 hydropower facility. So far about $2 million has been channeled into spending on education in poor districts; $1.7 million for rural roads; $1 million for public health; with the rest of the funds devoted to rural electrification and the environment.

“The Bank is committed to providing continued support to the Government of Lao PDR to make NT2 an excellent example of socially and environmentally sustainable hydropower for the long-term. I encourage the Government to apply the lessons from NT2 as it demonstrates how a large scale project can help deliver real benefits to fund poverty reduction and development programs,” Zoellick said.

Residents living near Nam Theun 2 have seen their lives change as a result of the project. Sok Khampha, a farmer, said: “So much change around us; in the new village we have better houses, a road to market leading to better trading opportunities.”

Souk Gnommany, a fisherman, said the hydropower project has provided him with better access to resources: “We have water, electricity, no need to light candles anymore. The way of making a living is easier. In the old village we had to walk two kilometers to access to water; now it is just a short distance from our house”

In addition to visiting local villages on his trip, Zoellick also went to the Nakai Nam Theun National Protected Area, the largest protected area in Lao PDR and one of the most important areas for biodiversity in Southeast Asia. The commitment to protect this conservation area, nearly seven times the size of Singapore, was a requirement for NT2’s approval.

Zoellick also congratulated the Government on its impressive reform agenda, outlined in the 7th National Social Economic Development Plan that has the goal of graduating from Least Developing Country (LDC) status by 2020. He also encouraged senior government officials to continue to strengthen the management of natural resources, diversify the economy, and address vulnerabilities.

During his visit, Zoellick met representatives from civil society organizations working on biodiversity conservation and environmental protection in Lao PDR. Talks touched on issues of improving sustainable use of natural resources. Zoellick travels from Laos to Nagoya, Japan, where biodiversity will be discussed by a coalition of global partners. Zoellick encouraged Lao PDR to work with the World Bank and other tiger range countries on their Global Tiger Recovery Program, which will also be a topic in Nagoya. The World Bank Group is committed to ensuring social and environmental safeguards of its projects, and close coordination and cooperation between these organizations and the World Bank is an important part of that work.

“Sustainable use of natural resources is essential for poverty reduction and economic growth,” Zoellick said. “Biodiversity and ecosystem services also contribute to environmental sustainability, which is one of the Millennium Development Goals and a central pillar of World Bank Group assistance,” he added.

To get a first-hand view of the current business environment and opportunities for private sector development in Lao PDR, Zoellick took part in a round table discussion with representatives of the private sector. He noted the significance of a recently approved $15 million loan to Electricité du Laos by the IFC, the private sector arm of the World Bank Group. Working with the Bank’s fund for the poorest, the International Development Association (IDA), the project aims to promote access to electricity for rural people.

Zoellick’s visit comes as the World Bank Group is working closely with the Government on a Country Partnership Strategy for Lao PDR for 2011-2015 in consultation with development partners, the private sector, and civil society. The new Strategy will support the Government’s 7th National Social and Economic Development Plan.

Background:

Lao PDR joined the World Bank in 1961. Since then, the Bank has provided about $1 billion in financing, $762 million in credits, and $238 million in grants to Lao PDR. The Bank’s portfolio in the country consists of 21 projects, including the Nam Theun 2 (NT2) project.

From April 30 to September 30, the government has received about $5.6 million of revenues from the NT2 project. The funds are being put to use:

* The government is constructing 105 kilometers of rural roads in Savannaket (Nong district), Saravan (Smoay and Ta-oay districts) and Sekong (Kaleum and Darkchuang districts) provinces to connect remote communities to the district roads network for improved market access for remote villages.

* In the poorest 47 districts, NT2 revenues are financing a program on improving mother and child services along with providing surgery items. Money is being spent on training to health care staff, medicines, medical equipment, and financing a health equity fund.

* In education, NT2 revenues are financing textbooks, teacher guides, teaching equipment, and providing zinc roofs for year 4 classrooms in poor districts. These expenditures are an integral part of the government’s Education Sector Development Program, which was launched 2 years ago.

* Funding is also being used for the government’s rural electricification program in more than 15 villages across Champasack, Laung Prabhang, Savannakhet, and VTE capital provinces.
http://www.ttkn.com/politics/world-bank-group-president-robert-b-zoellick-commends-progress-in-lao-pdr-5693.html
 

·
Moderator
Joined
·
18,621 Posts
Discussion Starter #9
PM visits Laos for inauguration of Nam Theun 2 Dam project


BANGKOK, Dec 9 – Thai Prime Minister Abhisit Vejjajiva has left Bangkok Thursday morning to visit the Lao PDR to attend the inauguration ceremony of the Nam Theun 2 Dam project and to officially celebrate the 60th anniversary of the establishment of diplomatic relations between two neighbouring countries.

The entourage includes former industry minister Suwat Liptapanlop, Energy Minister Wannarat Channukul, vice minister attached to the Prime Minister's Office Issara Sunthornwat, and deputy secretary to the premier Panitan Wattanayagorn who is also acting government spokesman.

The multi-purpose hydroelectric dam is a cooperative project between Thailand and Laos as a joint venture partner in development and Laos will sell electricity to Thailand.

Two Thai firms -- Italian-Thai Development (ITD) and the Electricity Generating Company (EGCO) -- cooperated with the Lao government and EDF International from France to construct the dam.

The inauguration ceremony will be chaired by Lao President Choumaly Sayasone.

During the one-day visit, Mr Abhisit will have a courtesy meeting with Lao President Choumaly Sayasone and hold bilateral talks with his Lao counterpart Bouasone Bouphavanh. He will also attend other activities to celebrate the 60th anniversary of the establishment of Thai-Lao relations.

The Thai prime minister will also join the ceremony opening the highway lighting project on the roadway from Friendship Bridge 1 across the Mekong River, connecting Thailand’s Nongkhai to Vientiane, the Lao capital.

Thailand granted financial support of Bt21 million (US$700,000) to the project to the highway lighting project without condition.

The Thai premier will also witness the signing ceremony for a Bt1.39 billion (US$46 million) loan contract from Thailand to develop Highway No 11 in Laos.

There are several cooperative projects needing further collaboration such as the Thai and Lao joint railway project which China has already helped Laos to fund. Thailand and China will hold talks on the issue as well as on the transportation development master plan with the cooperation of the Association of Southeast Asian Nations (ASEAN).

Nam Theun 2 is a hydropower project situated in Khammouane province in central Laos.

It will sell a substantial part of its electricity (920MW) to the Electricity Generating Authority of Thailand (EGAT) on the basis of a long-term Power Purchase Agreement signed in 2003.
http://www.mcot.net/cfcustom/cache_page/140415.html
 

·
Moderator
Joined
·
18,621 Posts
Discussion Starter #10
Laos' first listed bank looks toward expanding services
Vientiane, Laos - The first bank to be listed on Laos' fledgling stock exchange is looking to expand into corporate and private banking services, news reports said Monday.

Banque pour le Commerce Exterieur Lao (BCEL) currently offers services in foreign exchange, insurance, leasing and brokering. It was listed on the Lao Securities Exchange when it opened on January 11.

'I think the next step is to expand our line of business toward consulting services like private banking and corporate banking,' Khamhou Tongthavy, the head of BCEL's Administration and Finance Division, was quoted as saying by the Vientiane Times.

BCEL, communist Laos' leading bank, was one of two state enterprises listed on the bourse's first day with Electricite du Laos Generation.

The central bank has asked BCEL to set a target of 18-per-cent growth as the Lao economy was expected to expand by 7.9 per cent this year, Khamhou said.

With the bank's previous experience, the expansion should be achievable, he said.

'We are number one, but if we don't do our best, we will fail to maintain that position,' Khamhou said.

On the first day of trading, the BCEL share price rose from the average initial public offering price of 5,500 kip (0.63 cents) to 8,000 kip.
http://www.monstersandcritics.com/news/business/news/article_1613953.php/Laos-first-listed-bank-looks-toward-expanding-services
 

·
Moderator
Joined
·
18,621 Posts
Discussion Starter #11
Laos swamped by foreign investment
BOTEN, Laos — The language is Chinese, change is given in yuan and the time is set for Beijing -- but the Boten casino is in Laos, not China.

This impoverished country is overrun by investments from the more powerful neighbours that surround it, and is struggling to impose a development strategy.

The casino and garishly-coloured hotels have been developed in Boten over the past five years, against a backdrop of mountains a stone's throw from the Chinese border.

Laotians are not welcome in this Chinese-controlled new town, which is far from the only example of China's widespread presence in this landlocked communist country of about six million people.
More: http://www.google.com/hostednews/afp/article/ALeqM5jbPcA9AiZEeo215ARJaOC5G5rNsw?docId=CNG.b31410b1a6b8da4e2332a60563c95985.231
 

·
Moderator
Joined
·
18,621 Posts
Discussion Starter #13
Ratchaburi powers up in Laos
Ratchaburi Electricity Generating Holding Plc (RATCH) is joining with Korean and Laotian partners to develop the 27-billion-baht Xe-Pian Xe-Namnoy hydroelectric power plant in Laos.

Ratchaburi, Thailand's largest private power producer, will hold 25% of a new joint operating company for the 390- megawatt plant. Another 26% will be held by Korea-based SK Engineering and Construction, 25% by Korea Western Power (Kowepo), and 24% by Lao Holding State Enterprise (LHSE).
More: http://www.bangkokpost.com/business/economics/242645/ratchaburi-powers-up-in-laos
 

·
Moderator
Joined
·
18,621 Posts
Discussion Starter #14
Vietnam - Laos bilateral trade: US$2 billion by 2015.
The target was planned at a meeting between Vietnamese Deputy Minister of Industry and Trade Nguyen Thanh Bien and his Lao counter part Khemmani Pholsena, in the Lao capital city of Vientiane yesterday (August 5th).


President of the Confederation of the Overseas Vietnamese Associations in Laos Hoang Dieu on February 17 handed over US$50,000 as a gift to the Lao National War Veteran Association.(Photo VOV)

According to the memoir, the two sides agreed to boost coordination with relevant ministries and branches to organize trade fairs in Laos in 2011 and the coming years. The two countries’ businesses also contact regularly through seminars and conferences.
More: http://www.saigon-gpdaily.com.vn/National/2011/8/95464/
 

·
Moderator
Joined
·
18,621 Posts
Discussion Starter #15
ADB Loans US$5 Million To Boost Agriculture In Laos
VIENTIANE, Laos, Jan 26 (Bernama)-- The Asian Development Bank on Tuesday approved additional financing US$5 million for Smallholder Development Project to boost agriculture productivity in Laos.

Signing ceremony of the loan agreement was signed here between Lao government representative, Viengthong Siphandone, Deputy Minister of Finance and ADB Country Director to the Lao PDR, Chong Chi Nia, Lao News Agency (KPL) reported.
Read more
 

·
Liberty, Equality, Frate
Joined
·
111,150 Posts
Thai, Lao leaders vow to boost ties to strengthen ASEAN


VIENTIANE, Sept 16 - Thailand and the Lao People's Democratic Republic (Lao PDR) pledged to look forward together through various kinds of bilateral cooperation in an attempt to enhance the growth of the Association of Southeast Asian Nations (ASEAN).

The promised cooperation between the two neighbour countries was made during the one-day official introductory visit of Thai Prime Minister Yingluck Shinawatra to Vientiane, the Lao capital.

Ms Yingluck left Bangkok Friday afternoon and received an official welcome from her Lao counterpart Tongsing Tammawong.

Both leaders later held bilateral talks and pledged to boost the relations of the two countries, paving the way to implementation of the ASEAN Economic Community (AEC) in 2015.

The Thai premier gave assurances to the neighbour over the continuity of the policy of the Thai government, as well as its strong determination to promote and strengthen the ties and cooperation between the two countries through existing frameworks such as the Thai-Lao Joint Commission (JC).

The Thai prime minister emphasised the importance of infrastructure development in Lao as both countries are connecting points of economic drive in the regional bloc.

Ms Yingluck also reaffirmed that Thailand will buy 7,000 megawatts of electricity from Lao as earlier agreed.

The Thai premier also expressed condolences regarding the natural disaster in Lao and presented Bt2.5 financial aid to the affected victims.

She discussed the inauguration of the third Thai-Lao Friendship Bridge across the Mekong River, this linking Thailand's Nakhon Phanom province with Khammuane province in the Lao PDR.

Ms Yingluck invited the Lao premier to visit Thailand to boost relations.

The Lao prime minister hosted a dinner in honour of the Thai prime minister before she returned to Thailand Friday night. (MCOT online news)

http://www.mcot.net/cfcustom/cache_page/268580.html
























 

·
Liberty, Equality, Frate
Joined
·
111,150 Posts
Lao central bank to issue new 100,000-kip notes

Nation Breaking News - January 26, 2012 1:17 pm

Vientiane - The central bank of Laos will next month issue new 100,000-kip (12-dollar) banknotes to encourage people to use the national currency instead of US dollars and Thai baht, news reports said Thursday.

"With 100,000-kip banknotes, people won’t need to carry so many notes around with them to pay for goods and services," Currency Issuing Department Director General Souphat Khotnhotha told the Vientiane Times.

At present, many Lao prefer to use US dollars and Thai baht for expensive purchases because they are available in larger denominations, he Currently the largest kip banknote is the 50,000-kip while the largest Thai banknote is 1,000 baht (32 dollars).

Souphat said the introduction of the 100,000-kip note would not increase the money supply, so it should not boost inflation.

He said that the new notes would stop traders hiking prices in the kip currency because of shortages of banknotes.

Central Bank officials blame the kip shortage on the Lao tradition of Buddhist merit-making ceremonies, which includes providing many small-denomination kip banknotes to monks.

The new 100,000-kip banknotes will be printed abroad to ensure against counterfeits, the state news report said.//DPA

 

·
Liberty, Equality, Frate
Joined
·
111,150 Posts
Thai-Lao trade talk this month

The Nation February 16, 2012 5:06 pm

The Commerce Ministry during Feb 22-23 will host a trade and investment discussion with the Lao counterparty, with the aim to double bilateral trade within 2015.

Commerce Minister Boonsong Teriyapirom added that both countries also aim to triple Lao exports to Thailand within 2015.

He said that the discussion will be aimed at eliminating trade and investment obstacles between the two countries. Thailand is now the third largest foreign investor in Lao with the combined investment value of US$1.4 billion, followign Vietnam and China.

In 2011, bilateral trade was worth $3.9 billion, up 35.8 per cent from the previous year. Thailand exported goods worth $2.79 billion and imported $1.13 billion worth of goods.

http://www.nationmultimedia.com/business/Thai-Lao-trade-talk-this-month-30176039.html
 

·
Liberty, Equality, Frate
Joined
·
111,150 Posts
Thailand, Laos pledge to double trade

THE NATION February 24, 2012 1:00 am

Thailand and Laos aim to double bilateral trade to US$8 billion (Bt245 billion) by 2015, as result of closer cooperation under the Asean Economic Community (AEC).

This projection was made at their fourth bilateral meeting, attended by Thai Commerce Minister Boonsong Teriyaphirom and Laotian Minister of Economics, Trade and Industry Nam Vignaket in Bangkok yesterday.

Both countries have agreed to increase cooperation on boosting trade and investment along border provinces as well as eliminate non-tariff barriers under the AEC, which will get rid of tariff barriers.

After the meeting, Boonsong said both nations were confident that two-way trade would gradually increase amid low tariffs and tighter cooperation between the two countries' governments and businesses.

Bilateral trade should be doubled after full liberalisation of both markets under the AEC in 2015, from the current $4 billion. Bilateral investment is also expected to expand as investors would find it easier to move labour and raw materials under the AEC, Boonsong said.

As of last year, two-way trade between Thailand and Laos reached $3.91 billion, up by 35.8 per cent from the previous year. Thai exports were worth $2.78 billion, while imports were valued at $1.12 billion.

To promote growth in trade and investment, Thailand and Laos have proposed to develop efficiency at 10 temporary and permanent border checkpoints covering Thailand's Uttaradit, Pa Yao, Nong Khai and Ubon Ratchathani provinces.

Boonsong added that the Transport ministries of Thailand and Laos would hold discussions on reducing logistical obstacles to facilitate bilateral trade and trade growth to third countries. Thailand will also provide Bt10 million to promote development of small and medium-sized enterprises in Laos and increasing marketing and product management efficiencies.

The two ministers also discussed ways to overcome the problem of agricultural products from Laos participating in Thailand's pledging project. The ministers agreed to forge closer cooperation to increase the price of rice in Indochina to boost farmers' incomes in the region.

http://www.nationmultimedia.com/business/Thailand-Laos-pledge-to-double-trade-30176589.html
 
1 - 20 of 76 Posts
Top