investment Archives - McDonald Patafta & Associates Lawyers

PM Reveals Measures to Bolster Economic Growth

[:en]PM Thongloun Sisoulith told the NA that the government will employ a number of measures to spur economic growth amid the current economic and financial constraints. The government pledged to ensure a stable and steady macro economy through the harmonised implementation of financial and currency policies and measures to ensure annual economic growth of at least 7 percent. The PM committed to closely follow up the implementation of tax and customs policies and regulations as well as amending them appropriately in order to promote investment and business operations.[:]

Govt Seeks to Increase Bank Deposits to 84 Percent of GDP

[:en]The government has announced its intention to increase deposits in commercial banks to 84 percent of Gross Domestic Product (GDP) by 2020, up from the 57 percent expected in 2016, in a bid to meet growing development needs. Additionally, every effort will be exerted to increase the total credit in commercial banks to 74 percent of GDP by the end of 2020, an increase on the 50 percent expected by the end of 2016.[:]

PM Announces Continued Suspension of Mining Concessions

[:en]Prime Minister Thongloun Sisoulith said yesterday the government will maintain the moratorium on new mining concessions because it needs more time to inspect a number of operations. The prime minister was speaking at a three-day conference taking place at the National Convention Centre for mining sector officials from around the country and private investors in the industry.[:]

Banks Cut Interest Rates On Kip Accounts, Raise For Foreign Currencies

[:en]Commercial banks in Laos have lowered the interest rates charged on loans and offered on Kip accounts in line with a recent decision made by the Bank of the Lao PDR, hoping to stimulate economic activity. Conversely, banks have raised the interest rates offered on Thai Baht and US dollar deposit accounts hoping to build up reserves of these currencies amidst rising demand for the baht and US dollar. Banks informed Vientiane Times yesterday that lowering the interest rates on Kip accounts and loans was intended to encourage people to spend Kip and boost economic productivity.[:]

Comba Telecom shares rise on tie-up with Lao government

[:en]Chinese telecom equipment maker, Comba Telecom Systems Holdings, recently announced its plans to buy a 51% stake in Laos’ state-owned telecom carrier, ETL, for $91.8 million.[:]

More than a thousand furniture plants ordered to shut down

[:en]The government has ordered some 1,154 family-unit furniture plants across the country to shut down their illegal operations, a government spokesman announced yesterday. Additionally, more than 20 wood processing plants located in or near conservation and protected forests areas were also ordered to close down. The order was approved at the meeting between Prime Minister Thongloun Sisoulith and his deputies that took place on August 29 when the Task Force Committee reported its findings in relation to the illegal operations.[:]

Lao Securities Issues Warning on Dubious Financing Companies

[:en]The Lao Securities Commission Office is advising people considering making deposits with financial institutions to make a careful assessment before going ahead. Various financing companies in Laos are encouraging people to deposit with them by offering a higher rate of interest than that provided by banks but despite the glowing promises of financial gain made by such companies, their long-term viability is uncertain, the securities office warned.[:]

Lao market report: A gentle awakening

[:en]Lao PDR remains one of the most underdeveloped countries in Southeast Asia. But according to the ADB, the Lao economy is poised for growth thanks to strong performances in several sectors including construction, services and electricity exports. The Lao legal market is also in the developmental stage, being relatively small compared to neighbouring countries such as Thailand, Vietnam and Myanmar. The number of legal professionals in Laos is also small.[:]

investment

PM Reveals Measures to Bolster Economic Growth

Govt Seeks to Increase Bank Deposits to 84 Percent of GDP

PM Announces Continued Suspension of Mining Concessions

Banks Cut Interest Rates On Kip Accounts, Raise For Foreign Currencies

Comba Telecom shares rise on tie-up with Lao government

More than a thousand furniture plants ordered to shut down

Lao Securities Issues Warning on Dubious Financing Companies

Lao market report: A gentle awakening

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