Top Story: 8% of Lao economic expected growth in 2013
Economics
8% of Lao economic expected growth in 2013 | KPL, July 3
Lao PDR economy is expected to grow at 8% in 2013, fueled by growth from the services, hydropower, construction, and food processing sectors, according to the World Bank report yesterday.
"Resilient regional economic growth and strong domestic demand is expected to facilitate Lao PDR's robust economic growth this year", said Ms. Keomanyvone Phimmahasay, a World Bank Economist. However, sustainable domestic demand still continues to put a pressure on external balance.
Laos Economy Is Set For Boom Years Ahead As Increased Infrastructure Helps Expand Trade And Tourism | International Business Times, July 1
Laos, the third poorest country in Southeast Asia after Myanmar and Cambodia, is intent on catching up with its wealthier neighbors as infrastructure develops in the region, facilitating trade with Thailand and China, attracting foreign investment and boosting the country’s tourism industry.
For years, Laos, a landlocked country with a population of 7 million, lagged behind in economic development as its export-driven neighbors benefited from coastlines and their harbors flourished.
Investment in Laos tipped to double | Vietnam Net, June 30
Laos remains a bright destination for Vietnamese investors, the director of the HCM City Investment and Trade Promotion Centre said at a seminar held in HCM City yesterday. Pho Nam Phuong said that 30-40 Vietnamese companies would have an opportunity to promote their products at the HCM City Show 2013 to be held in Laos's Champasak Province on July 22-26. The show will introduce Vietnamese products such as processed food, plastics, products for agricultural sector, furniture, textiles and garments, cosmetics, electronics, electricity and construction materials.
Financial Services
Lao Securities Exchange aiming for big boost in trade with more listings | The Nation, June 24
The Lao Securities Exchange is promoting an equity investment culture among local stock investors and companies with listing potential in the aim to boost average daily turnover to one million shares by 2016 from 80,000 now.
Park Hojeong, vice chairman and chief operating officer of the LSX, said recently that by 2016, listed companies should multiply to 10 from the present two. The LSX works closely with other parties to educate the public on the capital market through many activities, including seminars, even in the countryside. It views 50 companies and state-owned enterprises as showing listing potential.
Foreign Affairs
Laos shows interest in baby food production jointly with Belarus | Belarusian Telegraph Agency, July 2
Laos is interested in setting up a joint production of baby food with Belarus using the Belarusian raw material and technologies. The statement was made at the ceremony of signing a memorandum of understanding between Belarus and Laos on cooperation in agriculture in Minsk on 1 July, BelTA learnt from the press service of the Agriculture and Food Ministry of Belarus.
The document was signed by Deputy Agriculture and Food Minister of Belarus Vasily Kazakevich and Deputy Minister of Agriculture and Forestry Phouang Parisak Pravongviengkham. The memorandum creates a necessary legal framework for cooperation between the agrarian agencies of the two countries. It is expected that the implementation of the document will promote the establishment and development of business contacts between economic entities.
Macao, Laos Signed Air Services Agreement | MENAFN, June 26
Macao and Laos signed a bilateral air services agreement on June 25 to mutually grant the fifth freedom traffic right without any restrictions to form an open air operating environment for airline companies intending to operate scheduled air services between the two places. Up to now, Macau has initialed air services agreements with 48 countries, including 41 officially-signed ones.
Health & Life Sciences
The U.S. Supports HIV/AIDs Training for the Lao People’s Army in Khammoun Province | KPL, July 3
The U.S. Embassy, in cooperation with the Center for HIV/AIDS/STI (CHAS), the Ministry of Health, and the Lao People’s Army Military Medical Departmental (MMD) provided a five-day workshop to train Peer Educator trainers from the Lao People’s Army on HIV/AIDs Prevention from June 24- 28, 2013 in Khammoun Province.
The workshop was organized by CHAS and the Ministry of Health, with participation by thirty Lao People’s Army trainers from twelve units from Savannakhet, Khammoun, Borlikhamxai Provinces and Vientiane Capital City.
WHO donates medical supplies for dengue outbreak prevention | KPL, July 3
The World Health Organisation to Laos has donated a number of medical supplies to the Ministry of Public Health, in its efforts to prevent the ongoing outbreak of dengue fever tends to be the worst.
Handover ceremony was held in Vientiane Capital on Tuesday between Country Representative of the World Health Organisation to Laos, Dr. Liu Yunguo and Minister of Health Eksavang Vongvichit in the presence of officials concerned. The aid package worth over 2 billion kip, funded by the Australian Agency for International Development through the WHO in Laos. The WHO has also provided technical assistance to Lao PDR to use the prevention of worst outbreak of dengue fever.
Dengue outbreak in the capital raises concerns | Vientiane Times, June 12
Minister of Health Professor Dr Eksavang Vongvichit has advised doctors, nurses and medical staff from Vientiane Health Department to continue working with the local community to ensure effective dengue fever prevention efforts. The minister visited the department yesterday, concerned about the overwhelming number of dengue patients currently being treated in the capital's hospitals as the wet season sets in.
Dr Eksavang said that medical staff should lead the public in the fight against the virus by encouraging them to destroy breeding sources of mosquitoes in their community, instead of just informing them about the minister's order in relation to dengue prevention.
Infrastructure
Laos urged to develop infrastructure | KPL, July 3
The Foreign Trade Policy Department of the Ministry of Industry and Commerce in cooperation with the Economic Research Institute for ASEAN and East Asia (ERIA) organized a workshop in Vientiane under theme “Public Private Partnership (PPP): Efficient Infrastructure Development Framework ” . Attending the workshop were Deputy Minister of Industry and Commerce Mrs Khemmany Pholsena, ERIA Senior Executive Officer Mr. Satoshi Kuwahara and private and government sector officials and experts in Vientiane.The main objective of the workshop was to help Laos further integrate with the Asean Economic Community and to promote cooperation between government and the PPP particularly in the framework of infrastructure development in Lao PDR.
Logistics and the Lao economy: Linking up and reaching out | Bangkok Post, July 1
Not so long ago, references to economic development in Laos typically mentioned the disadvantages of being a country that is landlocked. Wedged between dynamic, export-driven nations blessed with coastlines and harbours, Laos was viewed as fated to grow less rapidly than its neighbours.
But the map is changing now as the economies of Southeast Asia gear up to integrate, and as China pushes hard to develop road and rail links into the region to accelerate trade. Laos now finds itself as the pivot point between Asean’s 600 million people, with $2 trillion in GDP, and China’s population of 1.3 billion and $7-trillion economy. Laos, unless it suddenly decides to relocate, is well situated to gain.
Opening Of 4th Thai-Lao Friendship Bridge Delayed | Bernama, July 1
Budget problems among Southeast Asian countries involved in financing the fourth Thai-Lao Friendship Bridge have delayed its opening by over a hundred days.
According to Thai News Agency (TNA) the construction of the bridge, worth about 1.49 billion baht (RM152. 3 million) was due to complete on June 10. Officials said the bridge, which links Thailand's Chiang Khong district with Huay Xai of Laos, would be opened late this year, because border checkpoint systems on both sides were still incomplete.
VietJet Air looking to launch joint ventures in Myanmar, Cambodia and Laos | CAPA, June 27
VietJet Air is looking to launch JVs in Myanmar, Cambodia and Laos following the signing of a MoU with Kan Air to establish Thai VietJet, according to Managing Director Luu Duc Khanh. As reported by Bangkok Post, the subsidiaries will be established "using Thai VietJet Air's 49:51 model" of ownership with a Myanmar subsidiary expected to be the carrier's next joint venture. Mr Khanh stated VietJet Air aims to increase its A320 fleet from eight to 20 aircraft in 2014 to accommodate subsidiary carriers.
Thailand confirms its interest to invest into GMS infrastructure | Travel Daily News, June 21
Cross-borders improvement with neighbours will be part of the strategy of the Thai government promised at the Greater Mekong Investment Forum, Transport Minister Chadchat Sittipunt. Two trillion Baht (the equivalent of US 65 billion) are due to be spent on new road and rail links, including the development of a high-speed train network. Improvements in both infrastructure networks will also be beneficial to Thailand’s neighbours as they will be natural connections to the Asia Development Bank idea of funding a vast network of trans-Asian connections linking China and India to Southeast Asia.
Manufacturing
Laos export potential stifled by worker shortages | Just-Style, June 25
Laos has set its sights on more than doubling its clothing exports by 2015. But while order books are full and overseas demand on the rise, problems finding and retaining workers could prove to be major stumbling block. Jozef De Coster reports.
At first glance Laos might not appeal to international apparel buyers. The small, landlocked nation in South East Asia lacks local textile materials, its workers are poorly educated, and its industry is small-scale compared with its neighbours.
Other
Listing Plain of Jars as world heritage site discussed | KPL, July 3
Lao Government met UNESCO's officials in Xieng Khuang province on July 1-2 to discuss on listing Xieng Khuang's Plain of Jars as the 3rd world heritage site in the country. The meeting, chaired by Xieng Khuang Vice Governor Khampien Sinounthong, was financed by Australian Commission for UNESCO.
Taking part at the event were Deputy Director of Heritage Department of Ministry of Information, Culture and Tourism Mr. Viengkeo Souksavatdy and 25 relevant officials from government, Xieng Khuang province, Australian Embassy to Laos, UNESCO Consultant based in Bangkok, Mr. Ricardo Favis and UNESCO and Australia-related officials.
Young Laotians look ahead as they help clear deadly remains of Vietnam War | The Province, June 27
Shadowed by a dense green and brown jungle canopy, Phakhai Keo methodically guides her metal detector across a thick carpet of grass, leaf and vine until a loud squeal cuts the still of the forest like a machete. She has found a deadly remnant of a war that ended long before she was born — and she couldn't be happier."The day we find nothing is not so fulfilling," says the 25-year-old, who has spent the last three months combing the jungles and fields of southern Laos for unexploded cluster munitions.
Phakhai is part of a six-person team of deminers from Norwegian People's Aid (NPA), one of the handful of international organizations working to relieve Laos of its dubious status as the country most contaminated by cluster bombs.