Mekong Memo Laos 20231004

Mekong Memo Laos Weekly, October 4, 2023: Business, politics, finance, trade & legal news.

We monitor and filter the very best and most insightful stories from Southeast Asia directly to your inbox every week.

By reviewing a wide variety of media including legal, financial and other relevant industries along with government and NGO sources, we are able to sift through the noise and bring you only what we believe to be relevant to an informed observer of Laos business news.

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 are headlines-only for non-paid subscribers.

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Here is your Mekong Memo Laos for the week of October 4, 2023:

Headlines:

Laos Champions Homegrown Agriculture Over Imports

Laos Shines in Global Affordable Mobile Data List

Officials Dispel Fuel Shortage Speculations

Laos Steps Up with Expanded Trade Registration

August Brings Trade Deficit Relief

Vietnam and Laos Strengthen Defense Ties

Major Push to Uplift Sector Skills

Three Nations Unite for Digital Economy Leap

Officials Step In to Ease Living Costs

New 5GW Solar Cell Production Facility Opens

PM Charts New Course for SEZ Tourism

PM Urges Strategy for Rare Earth Mining

Gov’t Responds to Inflation with Wage Boost

Inflation Data Raises Eyebrows

BRI’s Dual Impact: Investments and Rising Debts

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Laos Champions Homegrown Agriculture Over Imports

The Lao Ministry of Agriculture and Forestry is taking steps to reduce agricultural imports, aiming to bolster domestic cultivation and combat inflation. Despite producing 6.53 million tons of agricultural goods annually, Lao farmers face challenges such as reliance on traditional farming methods, fluctuating weather conditions, and high costs of imported inputs. Illegal imports further strain local producers. Rising fuel prices and transport fees add to the woes. The government is urging farmers to cater more to the domestic market and increase exports, hoping to stabilize foreign exchange rates.

Read more: China.org.cn

Laos Shines in Global Affordable Mobile Data List

Recent research places Laos as the 14th country globally for offering the most affordable price per 1 GB of mobile data, with an average cost of just USD 0.25. This ranking follows Cambodia, another Southeast Asian nation, which secured the fifth spot. The study by Cable.co.uk analyzed 5,603 mobile data plans across 237 countries. While Laos boasts competitive data prices, it ranks 140th in broadband speed. Notably, the cost of mobile data in Laos has seen a significant reduction from USD 0.99 in 2022.

Read more: Laotian Times

Officials Dispel Fuel Shortage Speculations

Amidst concerns raised by PTT Lao Limited about potential fuel shortages due to foreign exchange challenges, the Lao Fuel and Gas Association (LFGA) and the Ministry of Industry and Commerce (MOIC) have reassured the public that the country's fuel distribution remains robust. The LFGA emphasized that fuel imports by 14 companies continue as usual, meeting national demand. The MOIC further highlighted that Laos imports significant daily quantities of petrol and diesel, with over 80% of gas stations operational. The government is taking measures to stabilize fuel distribution and urges the public to trust official sources.

Read more: The Star, Laotian Times