News from Southeast Asia directly to your inbox every weekday.
The Mekong Memo is proudly presented by:
Horton International is your premier partner for executive search in Southeast Asia. Whether you're a small startup or a global corporation, our reliable and effective recruiting solutions are tailored to meet your unique needs. With extensive experience and offices across the region, we excel at overcoming recruitment challenges and securing top talent for your organization.
Click here to learn how Horton can make your life easier.
The Memo is published weekdays - Cambodia (every Monday), Myanmar (Tuesday), Laos (Wednesday), Vietnam (Thursday) and Thailand (Friday). The Thailand edition is free in its entirety; the others usually abbreviated for non-paid subscribers.
Please go to https://www.mekongmemo.com/account to select country editions you would like to receive without affecting your overall subscription status.
EDL-Gen Sells First Corporate Dollar Bond
EDL-Generation, the hydropower and solar arm of state utility EDL, priced $300 million in notes due 2031 with an 11.125 percent coupon. It’s the first international bond sold by a Lao corporate issuer. JP Morgan ran the sale under (US SEC) Rule 144A and Regulation S, and the notes are listed on the Singapore Exchange, giving institutional buyers in the US and elsewhere a way in without having to tiptoe through Vientiane's thin domestic market. The coupon is well above what investment-grade Southeast Asian utilities usually pay, a reminder that investors are still pricing in dollar shortages and the debt hangover from Chinese lending. Sidley Austin advised JP Morgan; Linklaters advised the issuer.
Read more: Law Asia
Vientiane Rewrites Electricity Law
A 176-article rewrite of the 2017 Electricity Law covers a whole slate of issues including rooftop solar buybacks, direct power sales between producers and businesses, and what happens when hydropower concessions expire and then revert to the state. Most of the text is new or rewritten, which gives the output more weight than most legal tune-ups. Officials are trying to create an Electricity Regulatory Authority, a Lao Grid Code, Renewable Energy Certificates, and Build-Lease-Transfer and Lease-Operate-Transfer deal structures so that power producers can sell outside EDL and the system can lean a little less heavily on hydropower. A seven-day review wrapped up August 23, but the committee is still working through sections that officials disagreed on.
Read more: Laotian Times
Central Bank Cuts Rate to 7%
The Bank of Laos trimmed its seven-day base rate from 8 percent to 7 percent on August 20, its fourth cut in a year, after inflation was reported to have dropped from a little above 10 percent in April to the mid-7s in June. It ticked back up again in July on higher electricity costs, but managed to stay under the government's 8 percent target. The central bank has also decided to extend foreign exchange trading by an hour (now to 4 PM). Laos is still a heavy user of multiple currencies as it scrambles for foreign exchange to service debt.
Read more: Laotian Times
Growth Slows to 4.6% as LDC Exit Grows Near
GDP grew 4.6 percent in the second quarter, down from 5.5 percent in the first, leaving the economy at 5 percent for the first half compared to a 6 percent (full year) target that the government still says it can get to. Tourism did much of the heavy lifting on nearly 2.6 million arrivals in six months. Services handily outran industry and agriculture. Revenue collection managed to beat expectations at LAK 44,956 billion (~$2 billion). Vietnam managed 8.2 percent over the same stretch, and Thailand wrangled 2.4 percent. Vientiane wants to hold a 6 percent pace through 2030. It is expected to graduate from UN Least Developed Country status at the end of 2026.
Read more: Laotian Times
US Court Lifts Visa Pause, Lao Citizens Still Locked Out
A US federal judge struck down the State Department's 75-country immigrant visa pause on August 21, as it said the blanket policy is/was "patently unlawful" since it barred consular officers from reviewing applicants one by one. Nationals of most listed countries are now able get case-by-case reviews, but Lao citizens still can’t because of a separate Presidential Proclamation from June 2025 that still suspends entry and immigrant visa issuance for Laos. The State Department has not said how embassies should handle countries caught between the two policies.
Read more: Laotian Times
Korean Chains Pile Into Vientiane's Kok Kok Mall
EDIYA COFFEE, Paris Baguette and Dookki have all opened their first stores at Vientiane's Kok Kok Mega Mall, all of them under a master franchise deal with KOLAO Group, the Korean-founded conglomerate that got its start assembling cars. E-MART24 is using the same partner to roll out a convenience store chain. KOLAO already runs nationwide distribution, real estate and logistics operations, which lets the new entrants skip the cost of building local networks from zero. Mom's Touch, Lotteria, No Brand and Shinsegae Factory Store are all already there as well.
Read more: Biz Chosun
Health Ministry Gives Clinics Until November
The Health Ministry has given unlicensed clinics until November 30 to get permits, with dental offices, cosmetic surgery shops, injection providers, acupuncture clinics and stem cell centers all in the crosshairs. The order reminds everyone about the Law on Medical Treatment but doesn’t go so far as to enumerate fines, closures or inspection rules for clinics that miss the deadline. So the ministry looks hard on paper, but, at least for now, seems much quieter about enforcement.
Read more: Laotian Times
JP Arrivals Up 36% After Princess Aiko's Visit
Japanese arrivals were 23,133 in the first half of 2026, up 36 percent year-on-year. Tourism officials credit Princess Aiko's five-day visit to Vientiane and Luang Prabang, her first official overseas trip, which coincided with 70 years of diplomatic ties. Expo and festival appearances in Japan are adding to the drive, along with a renewed deal with a Japanese promotion firm that will pitch schools, universities, media and travel agencies. The rebound brought nearly 2.6 million international visitors in the first half, and the government continues to hope for five to six million by year-end.
Read more: Laotian Times
That's all for this week, thanks for reading. Your voice matters to us. Feel we're missing something? Have additional sources to suggest? Don't hold back- hit reply and tell us what you think.
If you value the Mekong Memo, please consider buying (or gifting!) a paid subscription, sharing it on social media or forwarding this email to someone who might enjoy it. Please also “like” this newsletter by clicking the ❤️ below (or sometimes above, depending on the platform), which helps us get visibility on the Substack network.