Laos 20240605: Multifaceted, Collaborative, Proactive

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

Jun 05, 2024

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Headlines:

Inflation Soars to 25.8% in May

Dollarization A Remedy for Financial Crisis

PM Sounds the Alarm on Deforestation

Laos Gears Up for First Digital Census

Thailand Backs 6th Thai-Lao Bridge

Language Educators Gather in Vientiane

Cross-Border Teamwork Boosts Electricity Trade

Malaysia to Boost Lao Industrial Standards

Vietnam and Laos Deepen STEM and Finance Ties

New Economic Zone to Boost Tourism and Agriculture

EuroCham Hosts AGM and Networking

UN Pushes for a Tobacco-Free Laos

School Meal Program Improves Education and Nutrition for Thousands

Bamboo Rockets Fill the Sky in Annual Festival

Inflation Soars to 25.8% in May

Laos is feeling the heat as inflation jumped to 25.8% year-on-year in May, up from 24.92% in April. The Lao Statistics Bureau points to hefty price hikes in medical care and medicines (38.48%), hotels and restaurants (36.57%), clothing and footwear (31.34%), and alcohol and tobacco (29.63%). Rising fuel prices and a weakening Lao kip are fueling the fire. The central bank is tackling the issue head-on, raising public awareness and brainstorming strategies to ease inflation's bite.

Dollarization A Remedy for Financial Crisis

Laos is in a tight spot with high inflation and a sinking currency. Some say dollarization could steady the ship by taking the pressure off the central bank to prop up the Lao kip. This move would let the government zero in on tackling its foreign debt crisis, which has snowballed due to COVID-19 and pre-existing financial strains. The country's GDP and per capita income have taken a nosedive, making life tougher for everyone.

PM Sounds the Alarm on Deforestation

With World Environment Day around the corner, PM Sonexay Siphandone is calling for all hands on deck to fight deforestation and restore forest cover to 70% by 2025. He wants nationwide action, including planting 34 million trees in 2024 and pushing for sustainable resource use. The government is doubling down on stricter forest management and educational initiatives to get the public on board with protecting the environment and preserving biodiversity.

Read more: Laotian Times (Forest Destruction), The Star (Sustainable Development), The Star (Tree Planting)

Laos Gears Up for First Digital Census

Laos is prepping for its first digital Population and Housing Census in March 2025, kicking off with a pilot test in select provinces. The census is expected to paint a detailed picture of the population and living conditions using high-tech tools like smartphones and geographic information systems (GIS). Backed by international agencies, this census is about boosting data accuracy and coverage, especially in remote areas, by gathering in-depth demographic and socio-economic info.

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