LAOS – ECONOMY: Laos Economy Scoreboard as of 12 May

The “Asean Briefs” newsletter publishes a weekly summary of economic reports from Southeast Asia. We broadcast their weekly Laotian information panel.

Plan to support the new World Bank up to $ 395 million

The World Bank’s director responsible for Laos met with the Minister for Planning and Investment on the first visit and announced a plan for 2022-2026, during which the Bank is ready to provide support for 11 projects (green growth, human resources development and environmental protection) of 395 mil. USD.

Laos-China: no simplification of customs clearance procedures

On April 25, the railway transported 440,000 tons of cargo. The company plans to introduce online ticket sales for passengers in the near future. However, the Laotian authorities have stated that the lengthy and costly customs clearance procedures put in place by the Chinese side under Covid’s zero-occurrence policy disadvantage Laotian exports to China. Despite several months of negotiations with their Chinese partners and the railway company, the Laotian authorities have not received the required assistance. While Chinese goods (machinery, electrical equipment, consumer goods, etc.) arrive by rail every day, few Laotian agricultural products are transported to China due to health restrictions and the length of the journey.

The new Bokeo airport is 75% complete.

Construction of the new Bokeo airport continues. This airport, which is 75% complete, should be operational for domestic flights at the end of 2022 and for international flights shortly thereafter. This airport was built to respond to the flow of tourists who come to visit the SEZ Golden Triangle and attract Chinese visitors. The construction ($ 175 million) is funded by Hong Kong’s Greater Bay Area Investment and Development Group, a subsidiary of Dok Ngiew Kham Group, led by Chinese Zhao Wei, the owner of the casinos in this SEZ.

Elliot Frost

"Pop culture maven. Analyst. Writer. Wannabe food evangelist. Organizer. Friendly internet lover. Incurable troublemaker. Entrepreneur."

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