Laos 20240828: Adamantine, Terse, Apollonian
Laos 20240828: Adamantine, Terse, Apollonian
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Headlines:
Soaring Prices May Boost Paychecks
Tourism Boost With Visa-Free Entry
Online Forex System Pilot Launched
Chinese Tourists Flock to Vang Vieng by HSR
New Flight to Connect Xishuangbanna, Vientiane
Wind Power Projects Gain Momentum
University Enrollment Slammed by Job Worries
Tea Sector Brews Growth Opportunities
Vietnam and Laos in Military Education Ties
Australia in Indo-Pacific Endeavour 2024
Soaring Prices May Boost Paychecks
Laos is considering a raise in employee allowances as inflation rises above 26%. The government keeps saying that it will reduce inflation to under 20% by December 2024 through a “strategic plan,” but recent performance in this regard has been so far uninspiring in bringing the problem to heel. Measures include revising interest rates, creating a centralized foreign exchange market, and promoting the domestic use of the Lao kip. If they are to make any headway, increased domestic production needs to be improved and there needs to be a reduced reliance on imports.
Read more: Laotian Times (Allowance Increase), The Star (Inflation Plan)
Tourism Boost With Visa-Free Entry
Laos has introduced visa-free entry for citizens of nine countries, including Spain, Sweden, and China, to further support tourism. Visitors from these countries can now enter Laos without a visa for up to 15 days, with options to extend their stay. Laos appears to be well on the way to achieving its goal of pulling in 4.6 million visitors this calendar year.
Read more: Travel and Tour World
Online Forex System Pilot Launched
The Bank of the Lao PDR has launched a pilot for an online foreign exchange market system through the Lao Forex Exchange (LFX) mobile application. The platform allows users to buy, sell, and exchange foreign currencies easily, quickly, and transparently. The system is expected to reduce trade risks and modernize the financial services sector by making it more accessible to the public while maintaining regulation of the foreign exchange market.
Read more: VietnamPlus
Chinese Tourists Flock to Vang Vieng by HSR
Vang Vieng, a scenic, and heretofore sleepy, tourist town, is seeing a boom in Chinese visitors thanks to the newly opened China-Laos high-speed railway. Known for its adventure sports and stunning landscapes, Vang Vieng has evolved from a backpacker haven to a popular destination for Chinese visitors. The town, which features attractions like the Nam Song River and limestone caves, has been expanding rapidly of late to make room for the growing influx of tourists.
Read more: EU Reporter
New Flight to Connect Xishuangbanna, Vientiane
A newly launched direct flight now links Xishuangbanna, a major tourist spot in southwest China, with Vientiane, the capital of Laos. Paired with the China-Laos Railway, this route gives a new travel option for tourists and improves cross-border connections between the two regions for trade.
Read more: Xinhua
Wind Power Projects Gain Momentum
Southeast Asia's largest wind farm in Laos has passed 80% completion. The 600-megawatt project, costing more than $900 million, is expected to be operational by the end of next year. Separately, a meteorological tower in Savannakhet Province is the first step in the construction of additional wind farm projects as Laos continues to grow renewable energy capacity in support of energy exports to Thailand and Vietnam.
Read more: Asian News Network (Largest Wind Farm), Laotian Times (Savannakhet Tower)
University Enrollment Slammed by Job Worries
Lao National University (NUOL) is seeing a steep drop in entrance exam enrollment, down from 15,000 in 2016 to just 5,457 this year. The decline seems to be a result of widespread concerns over limited job opportunities and low-income prospects pushing students toward scholarships abroad. In response, NUOL has introduced new scholarships, such as the NAGAO and Mitsubishi UFJ scholarships, to attract more students and improve international partnerships.
Read more: The Star
Tea Sector Brews Growth Opportunities
The tea sector is showing growth opportunities for smallholder cooperatives, particularly in supplying the Chinese market. Chinese companies provide necessary technology and processing facilities and the local government is developing regulations for contract farming through the Mekong Region Land Governance initiative. Equitable investment models are being used to make sure there are fair returns for farmers.
Read more: The Star
Vietnam and Laos in Military Education Ties
Senior Lieutenant General Trịnh Văn Quyết, head of the General Department of Politics of the Vietnam People’s Army, called for better cooperation between the military schools of Vietnam and Laos. During his recent visit to Laos, he spoke about the importance of shared training programs, experience exchange in political and party-related affairs, and the mutual goal of building strong, loyal military forces.
Read more: Vietnam News
Australia in Indo-Pacific Endeavour 2024
Australia’s Indo-Pacific Endeavour (IPE) has returned to Laos, focusing on improved relations and stability. The 2024 mission includes training for the Lao People’s Armed Forces in English language skills and better emergency response capabilities. A secondary focus of IPE 2024 is the promotion the United Nations’ Women, Peace, and Security agenda, especially international humanitarian law. Australia says that it remains committed to military and humanitarian cooperation across the Indo-Pacific region.
Read more: Laotian Times
That’s all for this week, thanks for reading.
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