ASEAN Business Awards Laos 2020

The ASEAN Business Awards (ABA) Laos aims to recognise outstanding Lao businesses and use them as champions to spread the knowledge of doing business in the ASEAN Economic Community. It aims to inspire and rally Lao businesses to participate in the integration process and become key players in the ASEAN market. On the bandwagon of [...]
July 30, 2020 Lao PDR, Lao PDR Economy, News

AMRO’s Annual Consultation Report for Lao PDR

We are sharing the latest Annual Consultation report for Lao PDR, published on 29th of July by AMRO (ASEAN+ Macroeconomic Research Office). "Lao PDR’s GDP growth is expected to slow sharply this year due to the economic fallout from the COVID-19 pandemic, calling for strong government action to safeguard public health and to support the [...]

Insolvency Regime – Key Questions & Answers

The new Enterprise Rehabilitation and Bankruptcy Law (No. 75/NA, 26 December 2019) (“Bankruptcy Law”) was passed on 26 December 2019 and became effective in June 2020. The Bankruptcy Law replaces the previous Law on Enterprise Bankruptcy (№ 06/NA, 14 October 1994) and is the primary legislation governing corporate rehabilitation and bankruptcy. Our member, DFDL Lao [...]
July 6, 2020 News

Impact of COVID-19 on Tourism Enterprises in Lao PDR: An Initial Assessment

ADB conducted surveys of tourism enterprises in four of the Lao PDR’s major tourism destinations in August 2019 and May 2020. Results of survey indicate that in May 2020 about half of the surveyed enterprises were temporarily closed. About 70% of the surveyed enterprises had reduced employees, with employee numbers falling by 38%. The negative [...]
June 25, 2020 News

Informal Trade Private Sector Working Group

An informal Trade Private Sector Working Group e-meeting was organized last Wednesday 17th of June 2020, by the European Union Delegation and the Australian Embassy. The virtual meeting, chaired by Mr Bryan FORNARI, Head of Cooperation at the European Union Delegation, revolved around the COVID-19 outbreak in Lao PDR. Speakers from the Development and Private [...]
June 2, 2020 News

BFL BRED Group, Prudential Laos partnership to enhance access to life insurance solutions

Banque Franco-Lao (BFL) BRED Group and Prudential Life Assurance (Lao) Company Limited (Prudential Laos) have established a long-term bancassurance partnership to develop and distribute life insurance solutions. The two firms will collaborate on the solutions that will be provided to the Lao people through BFL’s extensive network spanning Luang Prabang, Pakxe, Savannakhet Vangvieng and Vientiane. [...]
June 2, 2020 News

Burapha Agro-Forestry Company to plant more than 2 million seedlings in Vientiane province

Burapha Agro-Forestry Company Ltd, the first company to establish commercial agroforestry plantations in Laos, is preparing to plant more than two million seedlings in empty areas of four districts in Vientiane province. The company is preparing eucalyptus seedlings to be planted in more than 1,000 hectares in Hinheup, Meuangfeuang, Xanakham and Meun districts. The Deputy [...]
May 29, 2020 News

World Bank supports govt to mitigate impacts of COVID 19

The Ministry of Planning and Investment and the World Bank have agreed to work together to mitigate the economic impact of the Covid-19 crisis and to discuss a policy framework for the recovery of the economy, strengthen macroeconomic stability and promote sustainable growth, especially during the implementation of the 9th National Socio- Economic Development Plan […]

May 29, 2020 News

Extension of the International Financial Reporting Standards Transition Period

The Ministry of Finance has issued its Notification No.1137/MoF dated 27 April 2020 relating to the extension of the International Financial Reporting Standards (IFRS) transition period.   Under a previous Notification No.697/MoF dated 20 March 2017, Public Interest Entities (PIE) were required to adopt the IFRS by year 2021 which should have been the last […]