The Government of Laos, represented by the Ministry of Finance, has signed a shareholders’ agreement with PTL Holding Co., Ltd. to establish the Lao Bullion Bank as a reserve fund for the nation’s economic and financial system.
Finance Minister Santiphab Phomvihane (left) exchanges the signed shareholders agreement documents with Chairman of PTL Holding Co., Ltd. Dr Chanthone Sitthixay. (Photo: www.vientianetimes.org.la)
Vientiane (VNA) - The Government of Laos, represented by the Ministry of Finance, has signed a shareholders’ agreement with PTL Holding Co., Ltd. to establish the Lao Bullion Bank as a reserve fund for the nation’s economic and financial system.
As reported by Vientiane Times, the establishment of the bank reflects a shared commitment to the government’s vision of building gold reserves and enhancing the country’s financial stability. It is anticipated that the bullion bank will unlock financial potential, support monetary and fiscal policies, strengthen the Lao Kip, facilitate fundraising, and improve liquidity for effective national development.
The bank is set to launch its first phase in September and roll out its full range of services by November.
ꦍ Laos is one of the leading countries in the world in terms of the mining and production of gold, ranking 3rd in ASEAN and 6th in Asia. Preliminary surveys estimate the presence of about 500 to 1,000 tonnes of unmined gold reserves. Once verified by international organisations specialised in mineral survey and exploration, these reserves could elevate the national reserve’s value to between 50 billion and 76 billion USD./.
The Ministry of Industry and Commerce (MOIC) of Laos, with support from the United States Agency for International Development (USAID), has launched an enhanced Electronic Certificate of Origin (e-CO) Issuing System, local media reported.
Lao Prime Minister Sonexay Siphandone has instructed ministries and provincial authorities to resolve administrative problems concerning citizen registration, ensuring that the process is streamlined by switching to a digital system.
The Lao Government has signed a Memorandum of Understanding (MoU) with Carbon Credit Laos (CCL) and Carbon Registry Thailand (CRT) on cooperation in using satellite technology to calculate carbon credits.
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.
Organised by the Ministry of Culture and the Association of Thai Silk & Culture Promotions, the event honors Her Majesty the Queen on her 47th birthday anniversary and promotes Thai craftsmanship on an international stage.
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.
The lab focuses on four key thematic areas: energy transition and green innovation, sustainable agriculture, circular economy and sustainable cities, and nature-based solutions and biodiversity.
The key content of the document titled "Accelerating Innovative Strategies: Addressing the OOSCY Challenges" will be refined further in a seminar preceding the 47th ASEAN Summit in Kuala Lumpur this October.
This follows Telegram’s serious failure to address the content that has been repeatedly reported to them, despite various efforts of negotiation and cooperation made by MCMC, it said.
Efforts to empower women must transcend dialogue and translate into concrete commitments, including corporate pledges and government partnerships, according to the spouse of Malaysian Prime Minister Anwar Ibrahim.
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.
The new FIFA Hub in Jakarta will not only support football development in Indonesia but also serve as a coordination centre for 21 football associations across Southeast and East Asia.
Minister Counselor Nguyen Hoang Nguyen reaffirmed Vietnam’s principled and consistent stance on the Palestine issue, calling for an immediate and lasting ceasefire across the entire Gaza Strip.
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.
The Ministry of Commerce reported that imports also rose 18% to 29.9 billion USD during the same period, resulting in a trade surplus of 1.1 billion USD. In May alone, Thailand posted a 4.6 billion USD trade surplus with the US and a 4.1 billion USD trade deficit with China.
The World Bank will provide a 2.1 billion USD financing package for Indonesia, focusing oncreating jobs, stimulating economic growth, and enhancing access to clean energy across the country.
