Laos 20240626: Holistic, Pioneering, Visionary
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Headlines:
Laos Toughens Anti-Corruption Laws
Central Bank Hikes Interest Rate to 10%
Major Review of 2015 Constitution Underway
Free Visas for Chinese Tourists in 2024
New Law to Boost Agricultural Cooperatives
Tighter Rules Coming for Entertainment Venues
New Irrigation Systems Open with Vietnam's Help
Satellite Data Center to Improve Services
North Korea and Laos Mark 50 Years of Friendship
Laos Leads in E-Waste Management
$360 Million Hydropower Deal Inked
Nationwide Plan to Cut Road Accidents
USAID Gives $10 Million for Health Security
Development's Impact on Heritage Under Scrutiny
Laos Toughens Anti-Corruption Laws
Laos is strengthening its anti-corruption efforts. The National Assembly wants stricter penalties and more detailed laws. Recently, two former civil servants got long prison terms for embezzling more than 10 billion kip in a show that the government is serious about fighting corruption, which has held back development and scared off foreign investors for years.
Read more: The Star (Law Revisions), Laotian Times (Penalties), The Star (Sentences)
Central Bank Hikes Interest Rate to 10%
The Bank of the Lao PDR has raised short-term loan interest rates from 8.5% to 10% yearly, starting June 12. This jump is intended to buttress the economy against both local and global economic challenges. The new rate will likely have a substantial impact on borrowing costs and investment plans across the economy.
Read more: The Star
Major Review of 2015 Constitution Underway
Laos has kicked off a comprehensive review of its 2015 Constitution. A national committee wants to get draft changes finished by mid-2025, with a focus on clarifying definitions and making sure the document supports national development goals. The process is expected to include public consultations and evaluations across sectors, including state powers and public security. The goal is to make the constitution more accurate, complete, and practical for Laos' current needs.
Read more: Laotian Times (Review Process), The Star (Evaluation Meetings)
Free Visas for Chinese Tourists in 2024
Free visas are on offer for Chinese tourists booking through approved agencies for Visit Laos Year 2024. The Lao government is also planning multiple-entry visas and allowance for longer stays for visitors from other countries. In preparation, they're upgrading tourist sites and taking advantage of the Laos-China railway to pull in more Chinese visitors. The potential impact is significant - in the first quarter of 2024 alone, more than 242,000 Chinese tourists entered the country.
Read more: Laotian Times
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