Governor of Bank of the Lao PDR Explains Reasons for "Weak KIP"
Mr. Sonexay Sitpraxay, Governor of Bank of the Lao PDR (BOL), said that weak domestic production is among the causes of the rapid depreciation of the KIP since June this year. The need to import many consumer goods has increased the demand for foreign currency, while the bank system’s supply capacity can meet only about 50 percent of the total demand. Further exacerbating the situation is the appreciation of the US Dollar and Thai Baht. Officials estimate that the inflation rate should not exceed 3% this year.
Meeting of seeking comments on draft decree on electronic commerce of the Lao PDR took place during 24-26 October 2019, at Riverea Hotel, Thakeak District, Khammaun Province.
Meeting of seeking comments on draft decree on electronic commerce of the Lao PDR took place during 24-26 October 2019, at Riverea Hotel, Thakeak District, Khammaun Province. The event was co-chaired by H.E. Bounmy Manivong, Deputy Minister of Industry and Commerce, and Mr. Bounmy Phimmasone, Provincial Party Committee, Deputy Governor of Khammaun Province, with invited guests from related line ministries and sectors, from 07 Provinces in middle and southern parts of Laos, namely: Bolikhamsay; Khammaun; Savanhnaket; Champasack; Sekong; Salavan and Uttapeu, for more than 68 persons actively attended to the said meeting.
BCEL cooperates with Swift Pass and NTT DATA to facilitate the payment via WeChat Pay and AliPay in Lao PDR
The official launch of WeChat Pay & AliPay in Lao PDR was held on 11 October 2019, at Lao Plaza Hotel, Vientiane capital. The event was co-chaired by Mr. Phoukhong Chanthachak, BCEL's Chief Executive Officer, and Mr. Jacky Chiang, Swift Pass‘s Chief Strategy Officer, and attended by invited guests and mass media from various sectors.