A street in Vientiane capital of Laos. (Photo: AFP/VNA)
Vientiane (VNA) – The Asian Development Bank (ADB) has revised down its growthforecast for the Lao economy in 2023 to 3.7%, froma 4.0% projection released in April.
According to the Asian Development Outlook (ADO) September 2023, economicgrowth in Laos is forecast to be slower than expected due to weaker growthprospects in China, and macroeconomic pressures arising from unsustainablepublic debt and a weak Lao currency, the kip.
The 2024 growth forecast was kept at 4.0%.
Curbing inflation is among the main challengesto Laos. Though inflation decelerated in August to stand at 25.88%, down from28.64% in June and 27.8% in July, the rate is still among the highest in theregion. The Lao Statistics Bureau said the weak kip is one of the main driversof inflation.
Lao media cited ADB Country Director for Laos Sonomi Tanaka assaying that sound macro-economic management, including stronger coordinationacross fiscal and monetary policies, is urgently needed to address thecountry’s economic and financial challenges./.
The Laotian Times reported on August 30 that Lao workers are leaving the country in large numbers, searching for employment opportunities abroad amid the skyrocketing cost of living at home.
In a bid to increase domestic production and deal with ongoing economic challenges, the Bank of Lao PDR (BOL) has allocated 4.5 trillion LAK (225 million USD) toward a credit policy to support local businesses.
The Lao Ministry of Energy and Mines has ordered the temporary closure of energy projects nationwide to serve the drafting of policies and master plans for energy development.
The Lao Ministry of Agriculture and Forestry has proposed a ban on the import of certain vegetables and other agricultural products, in a bid to boost the cultivation of these crops in the country while also tackling the problem of inflation, Vientiane Times has reported.
The article stressed that throughout his revolutionary career, the founder of modern Vietnam consistently regarded the revolutionary press as a vital part of the Vietnamese Party’s and nation’s revolutionary struggle.
Pichai said the trade talks with the US are important and need to move forward professionally, without regard for any political changes in Thailand, believing that Thailand has clear principles, guidelines and procedures in place.
The tax adjustment supports the Malaysian Government’s strategy to reduce reliance on foreign food supply chains and to assist domestic farmers, a finance official has said.
The proposed venue is located in the Chatuchak area of Bangkok, featuring eight public sites, including Krungthep Aphiwat Central Terminal and several nearby parks.
Connectivity is expected to improve further with the completion of the fifth Laos–Thailand Friendship Bridge by the end of 2025, facilitating logistics and agricultural exports to Vietnam, Thailand, and China.
Two naval gunboats intercepted a fishing vessel carrying 1.5 tonnes of methamphetamine hydrochloride off the coast of the main island of Luzon just before dawn, in a joint operation with the Philippine Drug Enforcement Agency.
In the today context of socio-economic development and growth, the professionalism of Vietnam’s revolutionary journalists continues to rise, guided by exemplary mastery of new information technologies and the modernisation of their founding principles to preserve the enduring values of revolutionary journalism.
Thai Permanent Secretary of the Ministry of Commerce Vuttikrai Leewiraphan Thailand's formal proposal will be substantial enough for the US to consider further detailed negotiations. He hoped for a tariff rate not exceeding 10% and suggested that the US might extend the negotiation period if an agreement is not reached by the July 8 deadline.
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Prensa Latina's recent article on Vietnam’s assurance of smooth and effective transition to a leaner structure highlighted Prime Minister Pham Minh Chinh’s latest directions on implementing 28 resolutions regarding the decentralisation and delegation of authority.
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The forum featured two in-depth discussion sessions, engaging representatives from governments, think tanks, and businesses from both ASEAN and China, on how to forge closer ties for a common future.
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PM Anwar Ibrahim affirmed the determination of Malaysia, as ASEAN Chair for 2025, to utilise all viable regional mechanisms of the bloc and work with partners to de-escalate violence and restore a peace process led by Myanmar.
Talking to the Vietnam News Agency on the occasion of the 100th anniversary of the Vietnam’s Revolutionary Press Day (June 21, 1925–2025), Nikulina, who is also a veteran journalist of Russia’s Sputnik News, emphasised the vital role of mainstream journalism in defending the truth and maintaining public trust.
A street in Vientiane capital of Laos. (Photo: AFP/VNA) 
